Business Context and Reporting Period
This Form 8-K Current Report from Ball Corporation is dated February 28, 2003. The filing serves as a Regulation FD disclosure regarding information previously posted on the company's external website for less than 24 hours on February 27 and 28, 2003.
Key Financial Metrics
- 2003 Earnings Per Diluted Share (EPS): The company reiterated its estimate of more than $3.60. Website charts projected 2003 EPS to be approximately 4% higher than this $3.60 threshold.
- 2003 Earnings Before Interest and Taxes (EBIT): Estimated at $458 million for planning purposes.
- 2002 EBIT: Implied to be $309 million (calculated as $458 million minus the stated $149 million increase).
Material Changes Versus Prior Period
The projected increase in 2003 EBIT represents a rise of $149 million over 2002 results. Management attributes much of this projected increase to the acquisition of a European beverage can business completed on December 19, 2002.
Guidance, Outlook, and Management Commentary
Management reiterated its previously disclosed guidance that 2003 earnings per diluted share will exceed $3.60. The filing clarifies that internal planning charts suggested a potential upside of approximately 4% above this baseline. The document includes a cautionary statement regarding the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Important Facts for Investor Verification
- Verify the final 2003 EPS against the reiterated guidance of >$3.60 and the internal projection of ~4% higher.
- Confirm the financial contribution of the European beverage can business acquired in December 2002 to the $149 million EBIT increase.
- Note that the information in this report is furnished pursuant to Item 9 and is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934.