AI Takeaway
Ball Corporation reported Q1 2026 EPS of $0.77 (up 22.2% YoY), with total assets growing 9.6% to $19.77B, though operating cash flow remained negative at -$777M amid elevated leverage with a debt-to-equity ratio of 2.53.
EPS (Basic)
$0.77
++22.22% YoY
Filed · Source: SEC EDGAR 10-Q filing
Basic and diluted EPS improved 22.2% YoY to $0.77 from $0.63, while SG&A expenses were nearly flat at $150M (up just 0.7% YoY), suggesting improved operational efficiency or favorable product mix drove bottom-line gains.
Source: Source: 10-Q Income Statement Data
Total assets grew 9.6% YoY to $19.77B, driven largely by a 23.4% surge in current assets to $6.22B and a 62.6% jump in cash to $730M. However, total liabilities rose faster at 13.5% to $14.15B, indicating debt-funded growth.
Source: Source: 10-Q Balance Sheet Data
Share repurchases fell 99.8% YoY to just $1M in Q1 2026 versus $555M in Q1 2025, with the company instead relying on $605M in financing cash inflows (up 52.8% YoY), suggesting capital is being preserved or redeployed toward debt management.
Source: Source: 10-Q Cash Flow Statement Data
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Upgrade to unlockBall's debt-to-equity ratio stands at 2.53x, reflecting substantial long-term debt obligations relative to equity of $5.60B. With total liabilities of $14.15B growing faster than equity (13.5% vs. 1.8% YoY), the company's balance sheet remains highly leveraged, increasing sensitivity to interest rate changes and refinancing risk.
Source: Source: 10-Q Balance Sheet Data
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Upgrade to unlockReported EPS of $0.94 versus the $0.86 analyst consensus — a +8.8% beat for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
EPS (Basic) | $0.77 | $0.63 | +22.22% |
EPS (Diluted) | $0.77 | $0.63 | +22.22% |
SG&A Expense | $150M | $149M | +0.67% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $19.77B | $18.04B | +9.60% |
Current Assets | $6.22B | $5.04B | +23.39% |
Total Liabilities | $14.15B | $12.47B | +13.48% |
Current Liabilities | $5.56B | $4.84B | +14.74% |
Stockholders' Equity | $5.6B | $5.5B | +1.80% |
Cash & Equivalents | $730M | $449M | +62.58% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $-777M | $-665M | -16.84% |
Investing Cash Flow | $-306M | $-207M | -47.83% |
Financing Cash Flow | $605M | $396M | +52.78% |
Share Buybacks | $1M | $555M | -99.82% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Current Ratio | $1.119 | — | — |
Debt to Equity | $2.527 | — | — |
Ball Corporation reported Q1 2026 basic and diluted EPS of $0.77, up 22.2% from $0.63 in Q1 2025, indicating solid bottom-line improvement. SG&A expenses were nearly flat at $150M, suggesting cost discipline contributed to the earnings growth.
The key takeaways are strong EPS growth of 22.2% YoY to $0.77, a significant cash build to $730M (up 62.6%), and a near-complete halt in share buybacks ($1M vs. $555M in Q1 2025). However, operating cash flow worsened to -$777M and the debt-to-equity ratio remains elevated at 2.53x.
Ball's financial health is mixed: EPS is growing and cash has increased to $730M, but the company carries a high debt-to-equity ratio of 2.53x and generated negative operating cash flow of -$777M in Q1 2026. The current ratio of 1.12 provides only a thin liquidity cushion.
Ball's share repurchases dropped 99.8% YoY to just $1M in Q1 2026, compared to $555M in Q1 2025. This likely reflects a strategic decision to preserve capital given negative operating cash flow of -$777M and the need to manage a highly leveraged balance sheet with a debt-to-equity ratio of 2.53x.
Based on the financial data, the primary risks include high financial leverage (debt-to-equity of 2.53x), persistent negative operating cash flow (-$777M), and increasing reliance on external financing ($605M in financing inflows). Rising current liabilities (up 14.7% YoY to $5.56B) also compress Ball's near-term liquidity buffer.