BALL · 10-Q · 2026Q2 · Full report

Operating Cash Flow Trends

BALL Corp · 2026-08-04 · Importance 42 · Surprise 40 · In source text

Operating activities used $169 million in the first six months of 2026, improving from $333 million used in the prior-year period. The 2026 outflow included a $1.01 billion working-capital use, partly offset by $428 million of continuing-operations earnings and $324 million of depreciation and amortization. At June 30, 2026, a one-day change in days sales outstanding affected operating cash flow by $44 million, while one-day changes in days payable outstanding and inventory days each affected cash flow by $37 million. Investing activities used $437 million, including $302 million of capital expenditures, $76 million for the Benepack acquisition and $52 million for ORG-linked notes.

Key facts

• Operating cash flow in 2026 was primarily driven by working capital outflow of $1.01 billion, earnings from continuing operations of $428 million and a reconciling adjustment of $324 million for depreciation and amortization. source
• A change of one day in days sales outstanding will impact operating cash flows by $44 million, one day in days payable outstanding will impact by $37 million, and one day in days inventory on hand will impact by $37 million as of June 30, 2026. source
• Cash flows used in operating activities were $(169) million for the six months ended June 30, 2026 and $(333) million for the six months ended June 30, 2025. source
• Expense related to factoring programs was $10 million and $9 million for the three months ended June 30, 2026 and 2025, respectively, and $20 million and $19 million for the six months ended June 30, 2026 and 2025, respectively. source

Impact estimates