Ardagh Metal Packaging S.A. (NYSE: AMBP) reported fourth‑quarter and full‑year 2025 results on February 26, 2026. Revenue rose 13% to $1,346 million in Q4 and 12% to $5,497 million for the year, while adjusted EBITDA grew 1% to $166 million in the quarter and 10% to $739 million for the year. The company posted an earnings per share of $0.03, beating the consensus estimate of $0.02 by $0.01, and maintained a quarterly dividend of $0.10 per share.
Volume growth in the Americas and European metal‑packaging segments drove the revenue increase. The Americas segment generated $807 million in Q4 revenue with $102 million in adjusted EBITDA, while the European metal‑packaging business posted $539 million in revenue and improved margins to 11.9% from 10.3% the prior year. Despite higher input costs and one‑time operational expenses, the company’s long‑term contracts and hedging helped mitigate aluminum price volatility, allowing it to preserve adjusted EBITDA growth.
The EPS beat was largely a result of disciplined cost management and a favorable product mix. While the company incurred a one‑time charge that contributed to a net loss of $16 million, the operating income remained positive, and the EPS of $0.03 reflected the company’s ability to convert revenue into earnings. The margin compression from 12.6% in the Americas segment to 11.9% in Europe was offset by the higher margin mix in the European business, keeping overall adjusted EBITDA growth on track.
Management guided for 2026 adjusted EBITDA of $750–$775 million, a slight increase from the prior guidance range, signaling confidence in continued demand for sustainable packaging. The company also reaffirmed its commitment to maintaining the quarterly dividend and highlighted ongoing capacity expansion initiatives that are expected to support future growth.
CEO Oliver Graham said, “2025 was another year of strong performance for AMP, underpinned by shipments growth of over 3%, a favorable product mix and solid operating performance. We delivered Adjusted EBITDA growth of 10% which significantly outperformed our initial guidance.” Executive Chair Mark Porto added, “The comprehensive recapitalization completed in November 2025 has placed Ardagh Group on a sustainable footing, strengthening our financial position and enabling continued investment in growth opportunities.”
Analysts noted that the earnings beat and revenue beat were the primary drivers of the positive market reaction, with the EPS beat exceeding estimates by 50% and the revenue beat reflecting robust demand in core markets.
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