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LUXEMBOURG - Ardagh Metal Packaging S.A. (NYSE:AMBP) reported third quarter earnings and revenue that exceeded analyst estimates on Thursday.
The company’s shares were up 2.41% in pre-market trading following the announcement.
The beverage can manufacturer posted adjusted earnings per share of $0.08 for the third quarter, beating the analyst estimate of $0.07. Revenue came in at $1.43 billion, surpassing the consensus estimate of $1.38 billion and representing a 9% increase compared to $1.31 billion in the same period last year. On a constant currency basis, revenue grew 6% YoY.
Global beverage can shipments declined by 1% in the quarter, with 2% growth in Europe offset by a 3% decline in the Americas. Despite this mixed volume performance, the company delivered Adjusted EBITDA of $208 million, a 6% increase from the prior year quarter.
"We delivered a strong performance in the third quarter, with Adjusted EBITDA growth of 6% versus the prior year quarter," said Oliver Graham, CEO of Ardagh Metal Packaging. "Our result was towards the upper end of our guidance range with both segments performing broadly in line with expectations."
The company raised its full-year 2025 Adjusted EBITDA guidance to $720-$735 million, based on an expected average euro/dollar currency rate of 1.12. Full-year shipments growth is forecast to be around 3%.
In the Americas segment, Adjusted EBITDA increased by 8% to $126 million, driven by lower operational and overhead costs and favorable category mix, partly offset by lower volumes. European operations saw Adjusted EBITDA rise 4% to $82 million due to volume/mix and currency effects, partially offset by lower input cost recovery.
The company maintained its Adjusted Free Cash Flow expectations for 2025 at a minimum of $150 million, with total capital expenditure projected at approximately $200 million, about one-third of which relates to growth investment.
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