Ball Corporation (BALL) official guidance

CapEx is expected to be in line with GAAP D&A in 2026.

CapEx is expected to be in line with GAAP depreciation and amortization in 2026.

It's still real early for us to be able to call next year, but we'd be guiding you a little more in line with depreciation or even slightly above, thinking about depreciation as a long-term average for our CapEx.

Full-year 2026 reported adjusted corporate undistributed costs recorded in other non-reportable are expected to be in the range of $175 million.

Our 2026 full year effective tax rate on comparable earnings is expected to be slightly above 23%.

Our 2026 full year effective tax rate on comparable earnings is expected to be slightly above 23%.

In 2026, expect comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million

In 2026, expect comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million

Looking ahead to 2026, we expect another strong year where we deliver our financial algorithm of 10%+ comparable diluted EPS growth.

●Full-year and fourth quarter global aluminum packaging shipments up 4.1% and 6.0%, respectively ●Returned $1.54 billion to shareholders via share repurchases and dividends in 2025 ●Generated record adjusted free cash flow of $956 million in 2025 ●Completed acquisition of majority stake in European beverage can manufacturer Benepack ●In 2026, expect comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million ●Focused on advancing sustainable aluminum packaging while driving 10-plus percent comparable diluted EPS growth, increasing EVA, generating strong free cash flow, and sustaining long-term value creation in 2026 and beyond

In 2026, expect comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million

We anticipate free cash flow of greater than $900 million in 2026.

In 2026, expect comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million

We anticipate free cash flow of greater than $900 million in 2026.

●Full-year and fourth quarter global aluminum packaging shipments up 4.1% and 6.0%, respectively ●Returned $1.54 billion to shareholders via share repurchases and dividends in 2025 ●Generated record adjusted free cash flow of $956 million in 2025 ●Completed acquisition of majority stake in European beverage can manufacturer Benepack ●In 2026, expect comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million ●Focused on advancing sustainable aluminum packaging while driving 10-plus percent comparable diluted EPS growth, increasing EVA, generating strong free cash flow, and sustaining long-term value creation in 2026 and beyond

Full-year 2026 interest expense is expected to be in the range of $320 million.

Full year 2026 interest expense is expected to be in the range of $320 million.

We anticipate year-end 2026 net debt to comparable EBITDA to be around 2.7x.

We anticipate year-end 2026 net debt to comparable EBITDA to be around 2.7 times

During the second quarter, we began executing our planned share repurchases, reflecting our confidence in the business and commitment to returning at least $800 million to shareholders in 2026.

We will repurchase at least $600 million of shares, which will bring our total capital return to shareholders to $800 million in 2026.

This performance supports our expectation to return at least $800 million to shareholders in 2026, while maintaining the flexibility to invest in long-term, sustainable EVA growth projects.

and we will purchase at least 600 million of shares, which will bring our total capital return to shareholders to $800 million in 2026.

We will repurchase at least $600 million of shares, which will bring our total capital return to shareholders to $800 million in 2026.

As previously discussed, we anticipate $35 million of startup costs related to the Millersburg facility and U.S. domestication of ends to begin later this year.

These costs combined are approximately $35 million in 2026.

For 2026, with the inclusion of Benepack, we continue to expect volume growth above the top end of our long-term 3%-5% range, along with operating leverage of 2x.

With the Benepack assets, we expect to deliver volume growth above the top end of our long-term 3%-5% growth range and deliver 2x operating leverage in 2026.

As we look to the remainder of 2026, we continue to expect volume growth at the low end of our long-term range of 1%-3%.

In 2026, we expect volume to grow at the low end of our long-term 1%-3% range.

Looking ahead, we continue to expect volume growth at the low end of our long-term range of 4%-6% in 2026, with operating leverage of 2x.

Our teams across the region continue to execute well, positioning us for sustained momentum into 2026 where we expect volume growth at the low end of our long-term range of 4%-6% and 2x operating leverage.

We expect to finish in our 2%-3% towards the top end of our range of the 2%-3% volume and enterprise level.

With the Benepack assets, we expect to deliver volume growth above the top end of our long-term 3%-5% growth range and deliver 2x operating leverage in 2026.

Our teams across the region continue to execute well, positioning us for sustained momentum into 2026 where we expect volume growth at the low end of our long-term range of 4%-6% and 2x operating leverage.