Ardagh Metal Packaging S.A. (AMBP) Earnings
Ardagh Metal Packaging S.A. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $0.09. AMBP has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +38.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $0.04 | $0.05 | +25.0% | $1.5B | +10.0% |
| Oct 23, 2025 | $0.07 | $0.08 | +14.3% | $1.4B | +11.0% |
| Jul 24, 2025 | $0.07 | $0.08 | +14.3% | $1.5B | +4.7% |
| Apr 24, 2025 | $0.01 | $0.02 | +100.0% | $1.3B | +8.1% |
| Feb 27, 2025 | $0.02 | $0.03 | +50.0% | $1.2B | +3.0% |
| Oct 24, 2024 | $0.07 | $0.08 | +14.3% | $1.3B | +13.2% |
| Jul 25, 2024 | $0.07 | $0.06 | -14.3% | $1.3B | -4.5% |
| Apr 25, 2024 | $0.00 | $0.01 | +975.3% | $1.1B | -0.7% |
| Feb 22, 2024 | $0.04 | $0.01 | -73.9% | $1.1B | +1.9% |
| Oct 26, 2023 | $0.06 | $0.06 | +0.0% | $1.3B | +14.5% |
| Jul 27, 2023 | $0.06 | $0.04 | -33.3% | $1.3B | +1.1% |
| Apr 27, 2023 | $0.01 | $0.01 | -16.7% | $1.1B | -15.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• AMP reported strong first quarter adjusted EBITDA growth of 15% vs prior year, driven by Europe's strong input cost recovery and favorable volume mix. • Beverage can sales declined 1% vs prior-year quarter in line with expectations. • Americas performance broadly in line with expectations, with Brazil delivering strong results offset by challenges in North America. • Middle East conflict had no material impact on Q1 performance. • AMP has no manufacturing operations in Middle East and limited supply chain exposure. • Monitors geopolitical environment and input costs, with small exposure to recent energy price increase due to hedges. • Reaffirms adjusted EBITDA range for 2026 of $750 million to $775 million. • Views 2026 as transition year in North America with small volume decline and expecting return to growth in 2027. • Brazil expected to have low to mid-single-digit industry growth and AMP's volumes to track market. • Completed refinancing of asset-based lending facility, upsized to $450 million with maturity extended to 2031.
Guidance
• Reaffirms 2026 adjusted EBITDA range of $750 million to $775 million. • Views 2026 as transition year in North America with small volume decline and more favorable second half volume vs first half, expecting return to growth in 2027. • Expects some moderate input cost increases in second half due to Middle East conflict impact on certain direct materials. • Q2 adjusted EBITDA expected to be in range of $210 million to $220 million.
Segment performance
Europe: First quarter revenue increased by 18% to $625 million or by 6% on a constant currency basis. Adjusted EBITDA increased by 53% versus prior year to $75 million. Americas: Revenue increased by 19% to $879 million. Adjusted EBITDA was broadly in line with expectations with a 2% decrease versus prior year to $104 million. Brazil: First quarter beverage shipments increased by 14%.
Risks & headwinds
• Aluminum supply chain disruptions in North America led to higher operational costs in Q1 and expected impact into Q2. • Geopolitical environment and associated volatility in input costs, particularly energy, freight and certain direct materials. • Potential appeal of Boston Beer lawsuit verdict could delay realization of $175 million award.
Analyst Q&A
Q: In the prepared remarks, you noticed modest cost increases in the second half. Can you give any additional color on what specific categories those are in?
A: Mostly in coatings area, with some pass-through provisions in coating contracts potentially coming through in second half if oil prices stay very elevated.
Q: Has anything changed on the volume outlook by region?
A: No, just at Q1, plenty of year to go, saw strength in market data in key regions.
Q: Can you talk about what the impact was on the timing effect on the hedge revaluation in Europe?
A: Mid-single-digit millions of benefit in quarter from European freight hedging position, some possibility of reversal depending on commodity costs.
Q: What steps are left in order for you to get that $175 million from Boston Beer verdict?
A: They have option to appeal, which could delay realization, but doesn't change capital allocation priorities.
Q: Can you quantify what the drag was in Q1 from aluminum availability issue and what's in guidance for Q2?
A: Lost 1 to 2 points of growth in quarter due to weather and metal issues, not predicting significant drag in Q2 as things have improved.
Q: What are your plans on capacity additions in Europe, North America and Brazil?
A: Plan to add capacity in Europe in Spain and U.K. in next couple of years. In North America, have space in network and need to get mix right. In Brazil, have good capacity availability with space in network.