BALL · Earnings call · 2026Q2T · Full report
Capital Expenditure Outlook
BALL Corp · 2026-08-04 · Importance 40 · Surprise 42 · No source text
Ball is investing to relieve tight capacity in North America and EMEA while maintaining financial discipline. The Millersburg, Oregon facility began producing commercial cans in July 2026, is expected to ramp substantially in 2027 and should provide its full value beginning around the first quarter of 2027; management said no material startup costs are expected in 2027 after approximately $35 million in 2026. Benepack's Belgium and Hungary facilities are being integrated during 2026 and are expected to be fully ramped, operational and accretive in 2027.
Key facts
- Ball expects no additional Millersburg start-up costs in 2027 ('no start-up costs building into 2027').
- Ball expects to finish 2026 with CapEx in line with GAAP D&A and therefore did not plan to leverage the balance sheet to accelerate share repurchases in the first half.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | probable | — | Ball expects no additional Millersburg start-up costs in 2027 ('no start-up costs building into 2027'). |