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Ball Reports Strong Third Quarter Results

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Ball Corporation (NYSE: BLL) today reported, on a U.S. GAAP basis, third quarter 2020 net earnings attributable to the corporation of $241 million (including net after-tax charges of $56 million, or 17 cents per diluted share for business consolidation and other non-comparable items), or 72 cents per diluted share, on sales of $3.1 billion, compared to $92 million net earnings attributable to the corporation, or 27 cents per diluted share (including net after-tax charges of $145 million, or 43 cents per diluted share for business consolidation and other non-comparable items), on sales of $3.0 billion in 2019. Results for the first nine months of 2020 were net earnings attributable to the corporation of $358 million, or $1.08 per diluted share, on sales of $8.7 billion, compared to $406 million net earnings attributable to the corporation, or $1.19 per diluted share on sales of $8.8 billion for the first nine months of 2019.

Ball’s third quarter and year-to-date 2020 comparable earnings per diluted share were 89 cents and $2.15, respectively, versus third quarter and year-to-date 2019 comparable earnings per diluted share of 70 cents and $1.82, respectively.

Third quarter and year-to-date results reflect the 2019 sale of the company’s Argentine steel aerosol business and Chinese beverage can assets, and new segment reporting for the company’s beverage packaging, EMEA business and other non-reportable results. References to volume data represent units shipped, and year-over-year global beverage volumes referenced exclude the impact of the 2019 sale of the Chinese beverage can assets. Details of comparable segment earnings, business consolidation activities, business segment descriptions and other non-comparable items can be found in the notes to the unaudited condensed consolidated financial statements that accompany this news release.

“Our team continues to operate safely while responding to significant growth across our businesses. Capital investments are being executed to support sustained growth for our global aluminum packaging portfolio and aerospace technologies. Our company is well-positioned in the current environment, and our focus remains on our employees’ safety and our customers’ success, as well as the efficient and effective startup of our various capital projects in order to deliver significant value to our shareholders,” said John A. Hayes, chairman, president and chief executive officer.

“During the quarter, our company posted 27 percent comparable earnings per diluted share growth on 9 percent global beverage volume growth and 14 percent aerospace contracted backlog growth. In addition, we recently completed our aluminum aerosol acquisition in Brazil, announced new beverage can manufacturing plants in Pittston, Pennsylvania, as well as Frutal, Brazil, and commenced production at our new aluminum cup manufacturing facility in Rome, Georgia.  With demand continuing to increase for our sustainable aluminum packaging solutions and critical aerospace technologies, Ball remains well positioned to invest in EVA-enhancing capital projects, grow diluted earnings per share, increase cash from operations, and deliver shareholder returns now and into the future,” Hayes said.

Beverage Packaging, North and Central America

Beverage packaging, North and Central America, comparable segment operating earnings for third quarter 2020 were $209 million on sales of $1.3 billion compared to $157 million on sales of $1.2 billion during the same period in 2019. For the first nine months, comparable segment operating earnings were $544 million on sales of $3.8 billion compared to $416 million on sales of $3.6 billion during the same period in 2019.

Quarterly segment earnings increased supported by mid-single-digit volume growth, benefits from new contractual terms and improved operational performance. Higher at-home consumption and tight supply/demand conditions are expected to outpace domestically produced volume through 2021. In advance of the start-up of multi-line can manufacturing facilities in Glendale, Arizona, and Pittston, Pennsylvania in mid-2021, SKU rationalization with certain customers, production from recently commissioned can manufacturing lines in Rome, Georgia, and Fort Worth, Texas, and the short-term benefit of imported cans from our global network will continue to address consumers’ significant demand for soft drinks, sparkling water, spiked seltzers and beer throughout the remainder of 2020 and into 2021.

To further support our customers’ can-filling investments, additional can manufacturing investments in excess of the previously announced 6 billion units of capacity are anticipated to deliver contracted volumes beyond 2021.

Beverage Packaging, EMEA

Beverage packaging, EMEA, comparable segment operating earnings for the third quarter 2020 were $117 million on sales of $809 million compared to $105 million on sales of $763 million during the same period in 2019. For the first nine months, comparable segment operating earnings were $248 million on sales of $2.2 billion compared to $277 million on sales of $2.2 billion during the same period in 2019. Beginning in 2020, current and historical quarterly results for the company’s existing facilities in Cairo, Egypt, and Manisa, Turkey, have been consolidated into the segment.

Strong at-home consumption trends in the U.K., Nordics and Russia resulted in mid-single-digit volume growth for the segment during the quarter. Early in the quarter, seasonal demand patterns improved across Southern Europe, and, exiting the quarter, strength remained in this region as well as the U.K. and Russia. Packaging mix shift to sustainable aluminum cans for traditional and non-traditional beverages continues to accelerate.

Multiple beverage can line additions in the U.K. and Eastern Europe began production mid-year and, due to the strong recovery in regional demand, the European plant network provided minimal support for increased North American beverage can demand during the quarter.

Beverage PackagingSouth America

Beverage packaging, South America, comparable segment operating earnings for the third quarter 2020, were $64 million on sales of $432 million compared to $60 million on sales of $392 million during the same period in 2019. For the first nine months, comparable segment operating earnings were $173 million on sales of $1.2 billion compared to $193 million on sales of $1.2 billion for the same period in 2019.

Segment volume ended the quarter up strong double digits. Throughout the seasonally slow third quarter, Brazilian demand remained strong as small grocery stores and gas stations continued to emphasize recyclable aluminum beverage packaging over returnable glass and customers prepared for the busy summer season.

As we look forward, with customer packaging mix continuing to favor aluminum beverage packaging and supply/demand tightening dramatically, the new multi-line facility in Frutal, Brazil, will begin production in mid-2021, and additional projects in Brazil and surrounding countries are forthcoming to support contracted volume.

Aerospace

Aerospace comparable segment operating earnings for third quarter 2020 were $44 million on sales of $451 million compared to $35 million on sales of $374 million during the same period in 2019. For the first nine months, comparable segment operating earnings were $114 million on sales of $1.3 billion compared to $103 million on sales of $1.1 billion. Contracted backlog increased 14 percent to $2.4 billion and contracts already won, but not yet booked into current contracted backlog, remains strong at $4.9 billion.

Segment results were very strong in the quarter despite inefficiencies created from tighter safety protocols due to COVID-19, and the business is on track to hire 1,000 employees in 2020. The company continues to win and provide mission-critical programs and technologies to U.S. government, defense, intelligence, reconnaissance and surveillance customers. Multiple projects to expand manufacturing capacity, test capabilities engineering and support workspace remain on track.

During the quarter, Ball was chosen by NASA for three studies to explore next-generation technologies for the Landsat Program, a series of Earth-observing satellite missions jointly managed by NASA and the U.S. Geological Survey that is entering its fifth decade of existence. In addition, Ball recently shipped the OMPS instrument for integration onto NOAA’s next polar-orbiting operational weather satellite, the Joint Polar Satellite System-2 (JPSS-2). The OMPS instrument provides critical ozone measurements used by forecasters at the National Weather Service to produce ultraviolet (UV) radiation forecasts, by researchers to track the health of the ozone layer and by policy makers to help improve life on Earth. Ball has successfully built and delivered the two prior OMPS instruments currently in orbit providing critical ozone data.

Non-reportable

Third quarter results in non-reportable reflect higher year-over-year undistributed corporate expenses, the impact of the 2019 sale of the Chinese beverage can assets and Argentine steel aerosol business, lower operating results in the remaining non-reportable beverage and aluminum aerosol businesses, and start-up costs in the recently launched aluminum cup business. The current and historical results from the existing facilities in Cairo, Egypt, and Manisa, Turkey, have been consolidated into the beverage packaging, EMEA segment beginning in 2020.

The results for the company’s global aluminum aerosol business and beverage can manufacturing facilities in IndiaSaudi Arabia and Myanmar and investments in the company’s new aluminum cup business continue to be reported as non-reportable segments. During the quarter, the company’s global aluminum aerosol volumes declined low-teens with growth in India for sanitizing sprays offset by double-digit volume declines for personal care products in North America and Europe. In the third quarter, the company completed the acquisition of an aluminum aerosol manufacturing facility in Brazil and completed construction of its first dedicated aluminum cup manufacturing facility in Rome, Georgia. Multi-channel, retail shipments of aluminum cups are expected to commence in the first half of 2021.

Outlook

“Our company generates significant cash from operations, and we have the flexibility and opportunity to allocate significant capital to organic growth investments while continuing to return value to shareholders. We continue to foresee 2020 capital expenditures exceeding $900 million, and given additional EVA-enhancing opportunities supported by contracted volumes and backlog, growth investments are expected to be in excess of $1 billion in 2021 and beyond,” said Scott C. Morrison, senior vice president and chief financial officer.

“The resiliency of our team and the strength in our businesses has never been more evident. We continue to be on-track to execute multiple growth projects as efficiently and safely as possible with our employees, customers and supply chains. The momentum in our businesses is accelerating and we are well positioned to further broaden our scale to serve future growth with an even higher level of customer service. In 2020 and beyond, we look forward to continuing to grow our cash from operations and EVA dollars on an even larger capital base while returning capital to our shareholders and achieving our long-term diluted earnings per share growth goal of at least 10 to 15 percent,” Hayes said.

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Two thirds of PR Pros can’t prove their work helps their business or client: CoverageBook

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Just 1 in 3 PRs track the commercial impact of their work – while 66% are focused on driving high volumes of coverage31% of PRs have seen budgets cut in the last year, but a staggering 50% of those respondents believe this would have been less likely if they could better prove commercial relevanceNew free tool ‘CoverageImpact’ helps PRs prove the value of their work and bridge this disconnectLONDON, Feb. 22, 2024 /PRNewswire/ — PR may talk the talk when it comes to boardroom relevance, but it’s failing to walk the walk. New research from CoverageBook, the leading PR industry reporting platform, shows that just one third of PR pros align their activity with commercial goals. The survey of over 350 senior PR and marketing professionals reveals a significant disconnect between how the PR industry measures and reports on activity and what senior leaders and budget holders expect to see. 

This research comes at a time when clients are putting increased scrutiny on PR teams to demonstrate impact. While the industry is finally putting outdated metrics like AVE (used by just 7% of respondents) to bed – there’s no consensus on how to prove the value of PR and communications.
To help build that consensus and allow every PR to prove the value of their work, CoverageBook is launching CoverageImpact, a revolutionary free tool designed to simplify PR reporting and impact measurement. The tool aims to bridge the gap between PR professionals’ activities and their clients’ commercial goals, ensuring that there’s no disconnect between agency and client or within a business.
This is particularly important as less than half of PR professionals currently consider new biz and sales when measuring the impact of their work – just 41% of UK respondents and 34% of US respondents take the new business/sales pipeline into account. These numbers drop significantly when asked about investment generation – 14% of UK respondents and 13% of US respondents. 
So what are they measuring? Well unsurprisingly, the focus is on outputs and audience, with 96% citing target audience as a key measurement criteria and 66% high volumes of coverage. 
Lack of commercial proof has a financial impact
The result of all this lack of commercial certainty? Unfortunately, it’s budget cuts. When asked about their 2023 budgets, 31% of all respondents said they had seen cuts (33% agencies, and 22% in-house).
Unsurprisingly, 50% of those respondents believe this would have been less likely if they could better prove commercial relevance. Breaking that figure down clearly shows the correlation between impact proof and budget decisions, with 75% of agency respondents and 25% of in-house respondents in the UK agreeing with that statement, alongside 79% of agency respondents and 21% of in-house respondents in the USA. 
Commenting on the findings, Alastair McCapra, CIPR CEO said: “These findings show how PR practitioners are putting more time into measurement and evaluation, but the lack of a common approach is costing us credibility. With one in three PR budgets being cut and a sluggish economy, we need to be more effective than ever in telling our story, and communicating the impact and value of our work.” 
When asked about the biggest challenges they face in measurement, 54% of all respondents cited a lack of a universal measurement framework, while 52% mentioned a lack of measurement tools. These findings underscore the urgent need for tools that simplify measurement and reporting, making it easier for PR professionals to demonstrate the value of their work.
Introducing CoverageImpact
CoverageImpact, developed by the creators of CoverageBook and Answer The Public, offers a simple solution for turning coverage tracker spreadsheets into visually appealing ‘coverage over time’ graphics. With CoverageImpact, users can easily add impact data to their reports without the need for complex pivot tables or data visualisation skills. The tool is compatible with popular PR tools such as Excel, Google Sheets, Cision, MuckRack, TalkWalker, Meltwater, and CoverageBook, making it accessible to PR professionals worldwide.
“The truth is everybody needs to level up on telling the story of their impact; how their work correlates to organisational impact – the stuff leadership and boards actually care about. We know this is happening in small pockets, there are some case studies of PR measurement already,” said Gary Preston, CEO & Co Founder at CoverageBook. “But only a few can afford dedicated teams with Python, Excel & Data viz skills to do the job. Our aim is to democratise PR measurement for everyone to start having credible impact stories.”
In addition to simplifying reporting, the tool is designed to help PR practitioners start credible conversations with senior business leaders and budget holders, create graphs that support strategic decision-making, and save time in generating reports.
To try out CoverageImpact, visit – https://coverageimpact.com/ 

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Travel and Expense Management Software Market Size to Grow USD 15.7 Billion by 2032 at a CAGR of 18.3% | Valuates Reports

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BANGALORE, India, Feb. 22, 2024 /PRNewswire/ — Travel and Expense Management Software Market Size, Share, Competitive Landscape and Trend Analysis Report by Deployment Type (On-premise, Cloud), by Organization Size (Large Enterprises, Small and Medium-sized Enterprises), by Industry Vertical (IT and Telecom, BFSI, Manufacturing, Public Sector, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.

The global travel and expense management software market was valued at USD 3 Billion in 2022, and is projected to reach USD 15.7 Billion by 2032, growing at a CAGR of 18.3% from 2023 to 2032.
Claim Your Free Sample Now: https://reports.valuates.com/request/sample/ALLI-Manu-0L95/Travel_and_Expense_Management_Software_Market 
Major Factors Driving the Growth of Travel and Expense Management Software Market
The market for travel and expenditure management software is expanding due in large part to companies’ growing use of digital solutions to automate and streamline their travel and expense management procedures, which boost productivity and cut expenses. Further propelling the market development are the growing requirement for real-time visibility and control over spending, the necessity of regulatory compliance, and the increasing globalization of companies. Additionally, the incorporation of cutting-edge technologies like artificial intelligence (AI), machine learning, and data analytics into these software programmes is propelling market expansion by providing improved user experiences, predictive capabilities, and insights.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET:
The global increase in corporate travel activities is a major factor driving the growth of the travel and expense management software market. Businesses are sending more staff on business trips, conferences, and customer meetings as a result of globalization and growing corporate operations. Organizations are adopting travel and expenditure management software solutions to simplify procedures, track spending in real-time, and guarantee compliance with corporate regulations as a result of the spike in corporate travel, which makes effective administration of travel expenses necessary.
Businesses in a variety of sectors are looking for solutions to streamline and automate their spending and travel management procedures in order to increase productivity and cut expenses. Travel & Expense Management Software reduces mistakes and eliminates human data entry duties with features including automatic receipt scanning, automated expense report production, and connectivity with accounting systems.
Accurate tracking and reporting of travel costs is mandated by strict business rules and regulatory regulations. Through the use of travel and expense management software, businesses may make sure that workers follow company policy on spending limits, prompt approval of charges, and tax compliance. The capacity of these software solutions to uphold compliance requirements and enforce policy adherence is what propels their acceptance by companies of all sizes.
Having real-time insight into spending trends and travel expenditures is essential for efficient money management and budgetary selection. Travel and Expense Management Software gives businesses centralized platforms to manage expenditure, keep an eye on bills, and instantly analyze spending patterns. The demand is driven by this real-time insight, which enables firms to find cost-saving possibilities, make educated decisions, and reduce financial risks.
Travel and expense management software is starting to need integration capabilities with current business systems, such as ERP (business Resource Planning) and HR (Human Resources) systems. Processes are streamlined, data accuracy is improved, and data synchronization across various business operations is made possible through seamless integration. Adoption of software solutions with strong integration capabilities is fueled by organizations’ preference for integrated solutions that can combine travel and cost data with other financial and operational data.
The importance of data analytics and reporting tools in travel and expense management software is growing. Companies need to know about vendor performance, policy compliance, and travel expenditure trends in order to drive strategic decision-making and maximize costs. Organizations are able to get meaningful insights from travel and spending data by utilizing advanced analytics tools that are integrated into these software packages. These tools include predictive analytics, data visualization capabilities, and customisable reporting dashboards.
The increasing popularity of cloud-based travel and expense management software can be attributed to advantages including cost-effectiveness, scalability, and flexibility. By doing away with the requirement for on-premises infrastructure, cloud-based solutions enable businesses to access software from any place or device that has an internet connection. Small and medium-sized businesses (SMEs) find cloud-based solutions especially appealing due to their scalability and accessibility.
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TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE ANALYSIS
In 2022, the market was led by the cloud segment based on deployment mode. This may be ascribed to the rise in developments in cloud-based infrastructure, as cloud technology offers a number of advantages including easy access to diverse apps from far-off locations, virtual reservations, and other creative solutions.
In 2022, the travel and expenditure management software market was dominated by North America. This is explained by the region’s rapid adoption of cloud-based technology. On the other hand, the Asia-Pacific area is growing faster. This is explained by the rise in small-, medium-, and large-scale technological companies in the area.
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Key Players:
AvidXchange IncorporatedORACLE CORPORATIONKDSInterplx IncApptricity Corp.ExpensifyTripActionsSAP ConcurCoupa Software Inc8commonPurchase Chapters:
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Automating Efficiency: Saudi Arabia Warehouse Automation Market Gears Up for 14.2% CAGR, Driven by E-commerce Boom and Vision 2030: Ken Research

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GURUGRAM, India, Feb. 22, 2024 /PRNewswire/ — The Kingdom of Saudi Arabia’s warehouse automation market is on a trajectory for exponential growth, fueled by a surging e-commerce sector and ambitious national goals outlined in Vision 2030. Ken Research’s comprehensive report, Saudi Arabia Warehouse Automation Market Outlook to 2028: Automating the Path to Progress, sheds light on this dynamic market, poised for a remarkable 14.2% CAGR in the coming years. This press release summarizes the key findings and offers valuable insights for investors, logistics companies, and technology providers seeking to capitalize on this flourishing landscape. 

Market Overview: 
Several key factors are propelling the Saudi Arabian warehouse automation market towards a bright future: 
E-commerce Boom: The exponential growth of e-commerce is driving demand for efficient and high-throughput warehouse operations, necessitating automation solutions. Vision 2030: The government’s ambitious Vision 2030 plan emphasizes logistics sector development, creating a conducive environment for automation adoption. Rising Labor Costs: Increasing labor costs are prompting companies to seek automation solutions for cost-efficiency and productivity gains. Increased Demand for Storage: Growing population and economic diversification are leading to higher storage requirements, making automation crucial for efficient space utilization. Interested to Know More about this Report, Request a Free Sample Report
Segmentation Spotlight: 
Ken Research provides a detailed segmentation of the market, allowing you to pinpoint your target audience effectively: 
By Technology: Automated Storage and Retrieval Systems (ASRS) dominate the market, followed by Automated Guided Vehicles (AGVs) and robots. By Application: E-commerce and retail sectors are the primary adopters, followed by manufacturing, healthcare, and automotive industries. By Solution Provider: Global players like Honeywell, Siemens, and Vanderlande compete alongside regional players like Fawaz Refrigeration and Nesma & Partners Contracting Company. Competitive Landscape: 
The market features a mix of established players and emerging entrants: 
Global players: Honeywell, Siemens, Vanderlande, Swisslog, and Knapp. Regional players: Fawaz Refrigeration, Nesma & Partners Contracting Company, Abdullah Hashim Abunayyan Trading Company, and Al-Obeikan Group. Start-ups: Innovative start-ups are offering customized and cost-effective automation solutions. Recent Developments: 
Investment in automation: Major logistics companies and government entities are investing heavily in warehouse automation solutions. Focus on cloud-based solutions: Cloud-based warehouse management systems (WMS) are gaining traction for improved scalability and flexibility. Adoption of collaborative robots (cobots): Cobots are increasingly used for tasks requiring human-robot collaboration. Visit this Link :- Request for custom report
Future Outlook: 
The Saudi Arabian warehouse automation market is expected to witness exciting developments in the coming years: 
Growing demand for advanced technologies: Technologies like artificial intelligence (AI) and machine learning (ML) will be integrated for optimized operations. Rise of integrated solutions: Integrated automation solutions encompassing hardware, software, and services will gain popularity. Focus on sustainability: Environmentally friendly automation solutions will be increasingly sought after. Challenges to Address: 
Despite its promising future, the market faces some hurdles: 
High initial investment costs: The upfront costs of automation implementation can be a barrier for some companies. Lack of skilled workforce: Training and upskilling the workforce to operate and maintain automated systems is crucial. Data security concerns: Addressing data security concerns associated with connected automation systems is essential. Why This Report Matters: 
This report empowers various stakeholders to navigate the Saudi Arabian warehouse automation market: 
Investors: Identify lucrative investment opportunities across different technologies and segments. Logistics companies: Gain insights into emerging trends, optimize their operations, and improve efficiency. Technology providers: Tailor their offerings to meet specific market needs and expand their reach. Government entities: Formulate policies that support market growth and achieve Vision 2030 goals. Request free 30 minutes analyst call
Taxonomy
By Product Category
Semi-AutomatedFully AutomatedBy Product Component
Conveyor System/ Sortation SystemAutomated Storage & Retrieval SystemWarehouse Management SystemAMR/AGVOthers (Pick-to-Light and Put-to-Light Systems and automated packaging: wedging, volume reduction, personalization and more)Automatic Identification and Data Capture (AIDC)By Automated Technology
HardwareSoftwareBy End-User
E-CommerceRetail (Supermarkets, Hypermarket, Consumer Durables & More)3PL/LogisticsOthers (Health & Beauty, Pharma, Furnishing)For More Insights On Market Intelligence, Refer To The Link Below: –
Saudi Arabia Warehouse Automation Market
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MDO PET Films Market in UAE Outlook to 2027 Driven by increasing population, food and beverage demand and pharmaceutical consumption
Rise in cross-border shopping, with 58% of online purchases made from overseas vendors due to reliable shipping methods, and favorable pricing are the key drivers of e-commerce in the country. The growth of e-commerce in the UAE will boost the demand for packaging materials, especially tapes which are manufactured via MDO PET Films.
UAE Movers Market Outlook to 2028 Driven by Real Estate and Infrastructure Development and Growing Expatriate Population in the Country
Future market size for UAE Movers set for substantial growth from 2022 to 2028. Launch of over 10,000 new townhouses and villas in May 2022, with handover expected by 2025, indicating a surge in property developments and increased demand for moving services. Ongoing urban development projects, including new residential communities and commercial centers, anticipated to boost the demand for professional movers.
South Korea Warehouse Automation Market Outlook to 2027 Driven By increasing demand from end-user industries and factors such as increasing labor cost and labor shortage in the country
According to Ken Research estimates, the Market Size of South Korea Warehousing has shown increasing trend from 2019 to 2022. South Korea’s strategic location as a gateway between Europe, Asia, and Africa makes it an attractive hub for trade. The country has been actively promoting foreign trade and industrialization, attracting international companies to set up manufacturing facilities and distribution centers. This leads to an increased demand for warehousing services to support import, export, and local supply chains.
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