AMBP

Investors might want to bet on Ardagh Metal Packaging S.A. (AMBP), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. Consensus earnings estimates for the next quarter and full year have moved considerably higher for Ardagh Metal Packaging S.A., as there has been strong agreement among the covering analysts in raising estimates. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: The company is expected to earn $0.09 per share for the current quarter, which represents a year-over-year change of +12.5%. Over the last 30 days, one estimate has moved higher for Ardagh Metal Packaging while one has gone lower. As a result, the Zacks Consensus Estimate has increased 5.88%. For the full year, the earnings estimate of $0.28 per share represents a change of +33.3% from the year-ago number. The revisions trend for the current year also appears quite promising for Ardagh Metal Packaging, with four estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 9.9%. The promising estimate revisions have helped Ardagh Metal Packaging earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. Investors have been betting on Ardagh Metal Packaging because of its solid estimate revisions, as evident from the stock's 5.5% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ardagh Metal Packaging S.A. (AMBP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Ardagh Metal Packaging (AMBP) drew investor attention after reporting its second quarter 2026 results alongside a quarterly interim dividend of $0.10 per share, combining fresh earnings data with a defined near term cash payout timeline. See our latest analysis for Ardagh Metal Packaging. Ardagh Metal Packaging is trading at $4.78, with a 19.2% 90 day share price return and a 40.9% 1 year total shareholder return, which reflects recent earnings results and the confirmation of its dividend. If you are looking for other ways to put this earnings performance in context, it could be a time to widen your search using the 18 top founder-led companies After Ardagh Metal Packaging's recent share price gain and fresh guidance, the gap between today’s US$4.78 price, the US$5.15 analyst target and intrinsic value estimates near a 58% discount raises a clear question on where fair value really sits. Ardagh Metal Packaging's most followed valuation narrative puts fair value at $4.74, just below the latest $4.78 close, framing a tight valuation gap driven by detailed growth and margin forecasts. Read the complete narrative. Curious what kind of revenue curve, margin rebuild and earnings power need to line up to support that fair value, and how long that ramp is assumed to take? The underlying narrative stitches together shipment trends, pricing power and future profit multiples into a single valuation story, but the key moving pieces only become clear when you see the full set of assumptions side by side. Result: Fair Value of $4.74 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this narrative could quickly be challenged if high leverage limits Ardagh Metal Packaging's financial flexibility, or if volatile aluminum costs pressure margins more than expected. Find out about the key risks to this Ardagh Metal Packaging narrative. While the most popular Ardagh Metal Packaging narrative lands on a fair value of $4.74 and calls the current $4.78 price slightly overvalued, the SWS DCF model points the other way, with a future cash flow value estimate of $11.40 that suggests the stock is materially undervalued. Which framework do you trust more for your own work? Look into how the SWS DCF model arrives at its fair value. With mixed signals on Ardagh Metal Packaging's value, this is a moment to act quickly, review the data yourself and decide what resonates. To see how upside potential and flagged concerns compare side by side, check the 4 key rewards and 4 important warning signs Do not stop with Ardagh Metal Packaging, broaden your watchlist now so you are not looking back later wishing you had acted when these ideas were on your radar. Target compelling value opportunities by scanning 49 high quality undervalued stocks that combine quality fundamentals with prices that may not fully reflect their financial strength. Strengthen your income stream by reviewing 9 dividend fortresses that offer substantial yields while still keeping an eye on sustainability. Dial down portfolio stress by focusing on 81 resilient stocks with low risk scores that aim to balance return potential with more measured risk profiles. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AMBP. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Ardagh Metal Packaging S.A. recently reported past second-quarter 2026 results showing sales of US$1,713 million and net income of US$35 million, while its board approved a quarterly interim dividend of US$0.10 per ordinary share payable on September 24, 2026 to shareholders of record on September 10, 2026. The earnings release highlighted a shift from a basic loss per share a year earlier to positive basic earnings per share from continuing operations, alongside a raised full-year 2026 adjusted EBITDA guidance range of US$775 million to US$790 million driven largely by improved performance in Europe. We’ll now examine how this upgraded adjusted EBITDA guidance range influences Ardagh Metal Packaging’s existing investment narrative and the balance between growth and risk. The future of work is here. Discover the 34 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. To own Ardagh Metal Packaging, you need to be comfortable with a highly leveraged, capital intensive can maker that is trying to balance growth investments with consistent cash generation and dividends. The upgraded 2026 adjusted EBITDA guidance to US$775–790 million strengthens the near term earnings story, but it does not remove the core risk around high net leverage and exposure to interest costs, which still feels like the key swing factor here. The most relevant announcement is the upgraded full year adjusted EBITDA guidance, which sits alongside continued volume pressure in North America and Brazil and tight capacity in Europe. For me, this guidance raise matters because it leans heavily on Europe’s stronger performance, while the company is also adding capacity in Spain and the U.K., which could either support higher utilization or expose the business if demand softens. Yet behind the stronger guidance and ongoing dividend, investors should be aware of how Ardagh’s high leverage could quickly matter if refinancing conditions... Read the full narrative on Ardagh Metal Packaging (it's free!) Ardagh Metal Packaging's narrative projects $6.3 billion revenue and $152.1 million earnings by 2029. This implies 3.3% yearly revenue growth and about a $157 million earnings increase from -$5.0 million today. Uncover how Ardagh Metal Packaging's forecasts yield a $4.74 fair value, in line with its current price. Before this earnings beat, the most pessimistic analysts were assuming only about US$6.0 billion of revenue and roughly US$112 million of earnings by 2029, so if you think today’s stronger EBITDA guidance and capacity build in Europe change that picture, it is worth comparing your own expectations with both the consensus view and this more cautious scenario. Explore 2 other fair value estimates on Ardagh Metal Packaging - why the stock might be worth just $4.74! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Ardagh Metal Packaging research is our analysis highlighting 4 key rewards and 4 important warning signs that could impact your investment decision. Our free Ardagh Metal Packaging research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Ardagh Metal Packaging's overall financial health at a glance. Opportunities like this don't last. These are today's most promising picks. Check them out now: Uncover the next big thing with 21 elite penny stocks that balance risk and reward. AI is about to change healthcare. These 39 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. Rare earth metals are the new gold rush. Find out which 29 stocks are leading the charge. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AMBP. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Image source: The Motley Fool. Thursday, July 23, 2026 at 9:00 a.m. ET Investor Relations - Stephen Lyons Chief Executive Officer - Oliver Graham Chief Financial Officer - Stefan Schellinger Operator: Good day, and welcome to the Ardagh Metal Packaging S-8 Q2 26 Investor Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Stephen Lyons, Please go ahead. Stephen Lyons: Thank you, operator. Welcome, everybody. Thank you for joining us today for Ardagh Metal Packaging's second quarter 26 earnings call. Which follows the earlier publication of AMP's earnings release for the second quarter. I am joined today by Oliver Graham, AMP's Chief Executive Officer and Stefan Schellinger, AMP's Chief Financial Officer. Before moving to your questions, we will first provide some introductory remarks around A and P's performance and outlook. AMP's earnings release and related materials for the second quarter can be found on AMP's website at ir.ardaghmetalpackaging.com. Remarks today will include certain forward looking statements and include use of non-IFRS financial measures. Actual results could vary materially from such statements. Please review the details of ANP's forward looking statements disclaimer and reconciliation of non-IFRS financial measures to IFRS financial measures in A and P's earnings release. I will now turn the call over to Oliver Graham. Oliver Graham: Thanks, Stefan. So before taking you through our quarterly results, I want to recognize that at the beginning of this month, we celebrated AMP's 10-year anniversary a significant milestone in the history of the company. AMP was formed from 3 separate regional businesses, And over a 10-year journey, we have developed them into 1 strong, integrated global business. We have also transformed the company over this time invested well over $2 billion of growth capital, transforming our network. Our capacity is more than 30% higher, supporting our customers' growth with specialty cans now representing over 50% of our volumes. Our business mix is strongly diversified across both global and regional customers. And across a variety of new and growing categories. We have invested in our people and our processes, enhancing the capabilities and resilience of our business. And adjusted EBITDA this year is expected to have approximately doubled compared to our starting position. This has been a great achievement and I would like to extend my sincere thanks to our employees our customers, suppliers, and to all stakeholders who have made this journey possible. AMP is in a strong position and we look forward to continued success ahead. Our performance year-to-date is a testament to the resilience of our business. In an uncertain macroeconomic environment, A and P has delivered strong second quarter adjusted EBITDA growth of 14% versus the prior year. Significantly ahead of expectations. Beverage can sales declined by 1% in the prior year quarter as we cycled strong prior year growth of 5%. Shipments were impacted by contract resets in North America, and lower shipments in Brazil. Following relative outperformance in the first quarter, partly offset by strong volume growth in Europe. Overall volumes are in line with our expectations, and we expect to return to modest global volume growth in the second half supported by the strength in global beverage can demand, our attractive customer portfolio and our high exposure to fast growing beverage categories. Our adjusted EBITDA outperformance in the quarter was primarily driven by Europe. Which benefited from favorable input cost recovery and strong volume growth. Americas performance was broadly in line with expectations despite softness in Brazil, and metal supply constraints impacting operations in North America at the beginning of the quarter. Metal supply availability in North America significantly improved over the course of the quarter and we anticipate operating under normal supply conditions during the second half of the year. Now looking at Q2 results by segment. In Europe, Q2 revenue increased by 13% to $698 million or by 10% on a constant currency basis compared with the same period in 2025. This was due to favorable volumemix effects and the pass through of higher input costs including higher aluminum prices. Shipments increased by 5% for the quarter, which reflected strong underlying demand as well as the ramp up of newly contracted volumes. We experienced good growth in carbonated soft drinks and in the energy category, as well as across our diverse range of smaller growing categories. We also saw an improvement in underlying beer performance in the quarter, with our reduction in reported year over year beer can shipments reflecting specific contract losses. While underlying performance demonstrated greater stability. Second quarter adjusted EBITDA in Europe increased by 36% versus the prior year to $105 million strongly ahead of expectations. On a constant currency basis, adjusted EBITDA increased by 33%, primarily due to stronger input cost recovery including a favorable metal pricing timing impact and volume growth, partly offset by higher operations and overhead costs. Regarding our direct energy exposure, A and P is well covered for its energy needs in 2026 and beyond through its energy hedging program. For 26, we are over 85% covered for energy requirements. For 2027, we have approximately 80%, and we are nearly 70% covered for 2028. For 2026, we reaffirm our expectation for volume growth of around 3% in Europe. We do not yet have full beverage packaging industry scanner data for the second quarter but from the available data, we see very positive overall beverage can consumption trends. Capacity remains tight in the region, and our production volumes in the quarter benefited from the network optimization actions we undertook to allow us to better serve our customers with higher demand can sizes in part growing categories. We also previously outlined our intention to invest in the growing markets of The UK and Spain. We are pleased to announce we are taking the decision to upsize these projects following constructive commercial engagement with our customers. This will lead to higher CapEx of $40 million in 2026 compared to our previous guidance and allow us to capitalize on strong industry demand. We are also reviewing the timing of these projects given the strength of demand, we will update on this topic in due course. In The Americas, revenue in the second quarter increased by 21% to just above $1 billion principally reflecting the pass through of higher input costs to customers, including the impact of higher metal costs and freight cost pass throughs partly offset by lower shipments. Americas adjusted EBITDA for the quarter was broadly in line with expectations with a 2% increase versus the prior year to $135 million resulting from lower operations and overhead costs compared to the prior year quarter, partly offset by lower input cost recovery and lower shipments. In North America, shipments decreased by 5% for the quarter. This was in line with our expectations and reflected lower volumes after expected contract resets The impact on operations from metal supply chain challenges at the beginning of the quarter, and the cycling of a strong prior year comparable of 8%. Underlying demand dynamics in the industry remain robust, with strong industry scanner data year to date apart from the beer category, to which AMP has only a low single digit exposure. In particular, the energy category continues to show strong growth supported by broader distribution and successful innovation. We also continue to experience ongoing strong demand for specialty can formats, with further gains year to date in our overall specialty mix. We retain our expectation industry growth in North America in 2026 of a low single digit percentage. As previously indicated, we anticipate 2026 being a transition year for AMP with a small full year volume decline following some contract reset. But with a more favorable second half volume performance expected versus the first half. We also expect to return to growth in 2027 at least in line with the industry. On the back of having secured additional customer filling location. In relation to the lawsuit filed against Boston Beer in 2022 for breach of contract in respect to minimum volume purchase requirements, On May 26, 2026, a quarter an amended final judgment to include $15.5 million in prejudgment interest taking the total expected award value to approximately $190 million on a pre tax basis. Subsequently, Boston Beers posted a bond with the court to cover the award value and has also filed notice of appeal. In Brazil, second quarter beverage can shipments decreased by 15% reflecting customer mix effects following strong relative outperformance in the first quarter, when AMP volumes grew by 14%. In the quarter, we observed increased World Cup related activity in the market from the leading player, which negatively impacted on our customers' performance, as did some down time taken by 1 of our customers for some maintenance activity. Our overall performance for the first half is broadly in line with industry performance. Industry data indicates that demand remains soft through the second quarter. The industry outlook for the third quarter is also looking soft. As we look to the remainder of 2026, we now expect an industry growth rate of low single digit percentage and for A and P's volumes to broadly track the market. I will hand over now to Stefan to talk you through our financial position for quarter before finishing with some concluding remarks. Stefan Schellinger: Thanks, Ollie, and good morning, good afternoon, everyone. We ended the quarter with a robust liquidity position of $647 million net leverage of 5.2x net debt over the last 12 months adjusted EBITDA reflects A and P's strong adjusted EBITDA growth. This compares with 5.3x at the end of June 2025 or 5.7 times on a like for like base if your pro form a for last year's Q4 refinancing of AMPs preferred shares was debt. In terms of guidance of the various free cash flow components for full-year 2020, we approximately expect the following: total CapEx of $240 million including gross investment an increase of $40 million compared to our prior guidance driven by the previously mentioned upsizing of our investments in new capacity in Spain and The UK. Cash interest of $220 million lease principal repayments of approximately $215 million cash tax of approximately $30 million and a small outflow in working capital. Overall, our expectation in regards to our full year adjusted free cash flow generation remains unchanged. Finally, today, we have announced our unchanged quarterly ordinary dividend of $0.10 per share. And with that, I will hand it back to Olli. Oliver Graham: Thanks, Stefan. And before moving to take questions, I will just recap on A and P's performance and key messages. Adjusted EBITDA of $240 million in the second quarter exceeded our guidance range of $210 million to $220 million primarily driven by strong performance in Europe with Americas performance broadly in line with expectations Global volumes declined by 1% in line with expectations, and we expect to return to modest global volume growth in the second half. Reflecting on our strong first half performance, confidence in our outlook for the remainder of the year, we are upgrading our guidance for 2026 full year adjusted EBITDA to be between $775 million and $790 million. Our guidance assumes some reversal of the favorable metal price timing effect and the Q1 revaluation gains related to freight cost hedging. In addition, the business faces some inflationary headwinds related to freight costs and other direct materials impacted by the oil price, as a result of the conflict in The Middle East. In terms of guidance for the third quarter, adjusted EBITDA is expected to be in the range of $200 million to $210 million versus the prior year quarter of $208 million on a constant currency basis. So having made these opening remarks, we will now proceed to take any questions. Operator: Thank you. Is turned off to allow your signal to reach our equipment. Once again, that is star 1 to signal for a question. Analyst: Hey, Stephen and Holly. Good morning. Thank you for the time. North America was down 5% in Q2. Did you see any benefit from the World Cup there If so, how much? Or was it more of a nonevent given tight metal supply? Earlier in the quarter? And maybe I am getting ahead of myself, but looking out to 2027, you said reiterated at least market growth. But given that comp from the supplier constraint in first and contracts resetting, How much above market growth do you think would be possible in 2027? Oliver Graham: Yeah. Hi. Hi, Matthew. So look. On the first question, I think it is fair to say we did not see a particular effect from the World Cup. Obviously, beverage can manufacturers have different customers, different mix, different filling locations, different bottlers. We probably all experienced it differently, but we did not see anything particular in our numbers and it may be fair also to call out it is true that we were still a little bit constrained at the start of the quarter, on the metal. Though that normalized pretty rapidly through the quarter. So, yeah, we did not see anything particularly. We are obviously not in mass beer and there may have been more promotional activity from what we can see you know, in the beer category And then on 2027, the you know, we obviously had above industry growth rates for you know, most of the last few years, and this year, a bit of a transition. So we are not calling 2027 yet, but we do see that we have some gains from the same contract resets that impact to those this year negatively. We have some positive gains next year in terms of a couple of additional filling locations, and then we still like the look of our portfolio with its weighting towards soft drinks and energy. Categories, you can see in the data, you know, are outperforming overall industry averages again because of weakness in mass beer. So we are not calling it yet, but we certainly feel good about saying that we should grow at least in line with the industry next year. Excellent. Thanks, Ali. And you described this continued inflation Thanks. Compared to when we saw it was early April or late Mark, it seems like certain indicators have come down since then, but and since July is certainly picked up again. So how does the second half inflation compare to what you were previously anticipated? And if any changes, what specifically were the drivers of that? Thanks again for taking the questions. No. Sure. Yeah. I mean, I guess we can think about inflation a couple of different ways. So 1 is the inflation in our input cost, which is linked to The Middle East, which is mainly in the direct materials and freight as we called out in the remarks. And I think that has not really changed very much from our guidance back in Q1. So we are talking mid single digit sort of percent dot million dollars actually in those areas. So you know, that is reasonably stable. Obviously, the situation is not stabilizing but I think we look forward with some confidence in terms of the resilience of our supply chain So we think that is a reasonably safe number for the second half. And then in terms of inflationary pressures for the consumer or for you know, I think that is clearly worsening again. And so you know, probably some reason for some appropriate caution in the second half on volumes. But, again, we think that is you know, embedded in our in our guidance, and we still think we should return to some volume growth in North America for the second half. Operator: Got If you find that your question has been answered, you may remove your We will go next to Joshua Spector with UBS. Joshua Spector: Yes. Hi, good morning. So I just wanted to ask with it seemed like in your prepared remarks, you talked about some timing benefits within Europe and that helping margins. Are you able to size that at all? Oliver Graham: Yeah. Sure. So I think, you know, if you look at the beat, you know, overall for the company around $25 million versus the midpoint of consensus, and, you know, a bit more than that in Europe. But you know, we think a little bit over half of that is linked to metal timing. And then we think about a third of that reverses in the in the second half. So know, up to $25 million, as I say, a little over half, being there. Positive and then, yeah, about a third of that reversing on the metal side in the second half. Joshua Spector: Reversing as if it is gonna be a negative impact year over year or just lacking the benefit. Oliver Graham: Yeah. Negative. So it is a headwind in the second half. So I think I called out you know, first of the ODM and freight inflation sort of mid single digit, headwind in the second half, then there is the metal timing, mid single digit headwind. Also have a little bit of an FX headwind, and you know, that is underlying the guy being a little bit you know, less positive for the second half after a strong first half. Joshua Spector: Okay. No. that is helpful. And I just wanted follow-up a bit on the Americas volume side and just I guess, thinking about the resets this year, and you talked about some gains next year. I guess when you look at your circuit, for next year in North America, is there any slack left when you look on a on a year over year basis? So do you regain everything? Is there something where you would say you still have grow into, or is it a very tight circuit at this point later next year? Oliver Graham: I think on the you know, certain can sizes, there is definitely still capacity to grow into going back to the investments we made over the last 5 years. it is certainly getting pretty tight on specialty sizes, you know, sleek in the season pretty tight. So we do see that but we also have some projects to do, you know, some incremental speed ups and things. So we see room to grow over the next over the next few years in North America still. Okay. Thank you. Analyst: Pleasure. Operator: Our next question comes from Arun Viswanathan with RBC Capital Markets. Arun Viswanathan: Great. Thanks for taking my question. Hope you guys are well. Guess I just wanted to drill down into the European volumes. So obviously, you have seen some continued strength there. Are making some more investments there. So I guess do you expect this kind of mid single digit growth to persist And then how would you kind of rate the profitability there versus maybe some of your other regions Do you do you think there is any need for or there is any opportunities for improved returns and margins in Europe as you move throughout, aside from you know, not notwithstanding the metal pass through, but just curious on the actual overall returns profile. Thanks. Oliver Graham: Sure. Yeah. No. I think we feel very good about the market overall. As I said, I think we have got some very positive data coming through on can volumes. You know, right across the geographies. We see some temporary effects when deposit schemes are introduced. So we see that a bit in Poland this year. We saw it in The Netherlands a couple of years ago. But overall, there seems to be, again, strong momentum behind the can relative to other substrates. That are grappling with either, you know, input cost inflation ahead of hours or from sustainability concerns. So we see a lot more innovation going into the can We see innovation going into the can much earlier. So customers talking to us about how, you know, they might have launched on the beer side in glass and then brought the can innovation later, but now it is all simultaneous. So I think lot of positive momentum and, you know, our peers have talked about this but you look across the European markets, we still have some very low penetration rates of, you know, we have got still 2 way glass in some markets and other substrates. In categories where we are we are typically very strong. So I think, yeah, the European growth story is fully intact and looks very positive for years to come, which obviously underpins some of the investments we are making and then our peers are making to meet that demand and make sure the industry can continue to grow. And that is why we were pleased to announce the upsizing on the UK and Spain investments. In terms of profitability, I mean, traditionally, a very strong profit region, Europe for us. Suffered a bit, you know, coming through Russia, Ukraine, and the energy crisis. You know, we are on some recovery, so I think we do see better margin performance this year. Again, you should be very careful, obviously, as you know, on looking at any percentage margins given the impact of the aluminum price on the revenue side. But certainly, at the EBITDA per thousand level, we do see improved performance. And yeah, we think we can drive improved performance in Europe through you know, ongoing focus on cost. We always have had that, but there is some good programs that we are pursuing at the moment. And, obviously, the market's tight. So that also should be should be positive. So, yeah, we would hope for some improvements there. Arun Viswanathan: And I guess just as a follow-up on the Americas. Conversely there, it seems like obviously, you may be able to maintain low single digit volume growth in North America, but South America tends to be you know, considerably more volatile. So, you know, with the World Cup now kind of in the rearview mirror, Do you expect that region to kind of settle into kind of a low single digit growth trajectory? Or could it be slightly lower than that with a slightly negative offset coming through South America? How should we think about normalized growth rates in North Your Americas business? Thanks. Oliver Graham: Yeah. there is no question Brazil has become more volatile post COVID. So I think a number of effects going on there. I think the economy overall and the consumer suffered much more than in developed markets, and we see a longer recovery trajectory out of that. And then, obviously, in that backdrop, you know, you get more competitiveness at the than our customers to chase those you know, lower spending dollars. And then we also see, you know, increased competitive activity anyway in the brewers, you know, with an additional brewer growing over the last 5, 10 years. With the leading player playing much more in the off trade than they used to. So what you see, I think, is a, a little bit more weakness on the consumer side, and then you see much more volatility quarter to quarter depending on which brewer is chasing volume. Versus margin. And we certainly are finding it harder to call and project the market, you know, than we used to. I think it remains a market with a very positive backdrop in terms of the growth of the can relative to 2 way glass. I think that will still continue to play out. Obviously, the leading player now also driving that, whereas they used to hold that back. So, yeah, I think low singles is a minimum I would hope for in terms of the overall growth, but I do think this volatility will persist. And it certainly has become much more challenging to predict. And that is another factor, I think, the time behind our h 2 guide that Q4 is obviously the summer season in Brazil. And we could get quite a wide range of volumes there at the moment in our estimates. So we are also being cautious on Q4 as a result of that. Thanks. Operator: We go next to the line of George Staphos with Bank of America. George Staphos: Hi. This is George Staphos. I have 2 questions. First, what are the key factors behind the drop in EBITDA from about $240 million in 2Q to the guided range. Can you quantify the major drivers of that decline And second, what effect did mix have on 2Q results? And why were your results ahead of guidance? Thank you. Oliver Graham: So, look, I think the first question was about why Q3 below Q2. Q3 is always below Q2. Because Q2 is our high season and we generally are coming off a bit of that into Q3 and the remainder of the year. So I think if that was that question, I think probably that is the answer to that largely. We also have called out I think there are some inflationary pressures in the second half that we do not have in the first half and so the second half overall. Is down a little bit. And then I think your other question was about mix. So, obviously, if you look at the North American results, you know, we have lost quite a lot of volume there. But our overall volume mix line is flat. So you can see from that there is positive mix in North America. And we called out the specialty can percentage increasing. And then there was also good mix in Europe with, you know, the categories we are talking about and that-- yeah. I think Brazil at this point was less was a bit less relevant So I think I caught your questions, but I am turning to Stefan just to check No. Stefan Schellinger: No. I think you did. Analyst: Okay. Operator: We will go next to Michael Roxland with Truist Securities. Nico Piccini: Hey, guys. it is Nico Piccini on for Michael Roxland. Just wanted to check quickly on maybe an early read for July volume. By region or 3 q volumes. And then more specifically, how you think of, I guess, Brazil in the second half going off a few questions ago? Thanks. Oliver Graham: Yeah. I think the July volume is looking sort of largely correlated with Q2. So strong Europe, I think, yeah, US North America a bit better probably as we talked about. I think the second half should be stronger than first half when we start to see that in the July volumes and then Brazil definitely still soft market soft. And our volumes a bit softer. So I think that underlines our caution on you know, Brazil second half. We do have in the plan some volume growth. We still expect that And, obviously, what we have seen in the last few years is the summer season can really take off well. Which will obviously be happening from sort of October onwards. So we would be hopeful for that But again, you know, I think we have called it out. I think our peers are calling it out. there is a lot of volatility. The Brazil market at the moment depending on which of the brewers is really pushing volume. Nico Piccini: Got it. And then just 1 follow-up on your corporate structure. Can you give any update to what is happening there with maybe what the parent company is looking to do? Separating potentially glass and metal? Oliver Graham: Yeah. No. We do not have any update on that at this point. Got it. Thank you. Analyst: I will turn it over. Operator: At this time, we have no further questions. I would like to turn the floor back to Oliver Graham for any closing remarks. Oliver Graham: Thanks, Melinda, and thanks to everyone on the call. So just to summarize, in the second quarter we reported strong adjusted EBITDA growth of 14%. Versus the prior year quarter, significantly ahead of guidance, primarily driven by Europe which benefited from favorable input cost recoveries. And strong volume growth, and testament to, I think, a resilience of AMP's business. And reflecting on our strong first half performance and confidence in our outlook, we are upgrading our guidance for full year adjusted EBITDA to between 775 and $790 million. With that, we look forward to talking to you again at our Q3 results. Thanks very much. Operator: This concludes today's conference. We thank you for your participation. You may disconnect at this time. Before you buy stock in Ardagh Metal Packaging, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ardagh Metal Packaging wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $369,577!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,301,557!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of July 24, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Ardagh Metal Packaging (AMBP) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ardagh Metal Packaging SA (NYSE:AMBP) celebrated its 10-year anniversary, marking significant growth and transformation into a strong integrated global business. The company reported a strong second quarter adjusted EBITDA growth of 14% versus the prior year, significantly ahead of expectations. Europe's performance was a key driver, with second quarter revenue increasing by 13% and adjusted EBITDA rising by 36% due to favorable input cost recovery and strong volume growth. AMP's business mix is diversified across global and regional customers and various growing categories, with specialty cans now representing over 50% of volumes. The company is investing in expanding capacity in the U.K. and Spain, with an additional $40 million in CapEx for 2026 to capitalize on strong industry demand. Beverage can sales declined by 1% versus the prior year quarter, impacted by contract resets in North America and lower shipments in Brazil. North America faced metal supply constraints at the beginning of the quarter, affecting operations. Brazil experienced a 15% decrease in beverage can shipments due to customer mix effects and increased competitive activity. The company anticipates some inflationary headwinds related to freight costs and other direct materials impacted by the oil price due to the conflict in the Middle East. AMP's net leverage remains high at 5.2x net debt over the last 12 months adjusted EBITDA, reflecting the company's strong adjusted EBITDA growth but also indicating significant debt levels. Warning! GuruFocus has detected 10 Warning Signs with AMBP. Is AMBP fairly valued? Test your thesis with our free DCF calculator. Q: North America was down 5% in 2Q. Did you see any benefit from the World Cup there? And looking out to '27, how above market growth do you think would be possible? A: Oliver Graham, CEO: We didn't see a particular effect from the World Cup. We were still a bit constrained at the start of the quarter on metal supply, which normalized quickly. For 2027, we expect some gains from contract resets and additional filling locations, and we feel confident about growing at least in line with the industry. Q: How does the second half inflation compare to what you previously anticipated, and what are the specific drivers? A: Oliver Graham, CEO: Inflation in input costs linked to the Middle East remains stable from our Q1 guidance, with mid-single-digit million-dollar impacts. Consumer inflation is worsening, but we believe this is embedded in our guidance, and we expect volume growth in North America in the second half. Q: Can you size the timing benefits within Europe that helped margins? A: Oliver Graham, CEO: The overall company benefited by around $25 million versus consensus, with a bit more than half linked to metal timing. About one-third of this benefit is expected to reverse in the second half, creating a headwind. Q: What are the key factors behind the drop in EBITDA from about $240 million in 2Q to the guided range for Q3? A: Oliver Graham, CEO: Q3 is typically below Q2 due to seasonality. Additionally, there are some inflationary pressures in the second half that weren't present in the first half. Q: How do you view the European volume growth and profitability compared to other regions? A: Oliver Graham, CEO: We see strong momentum in Europe with positive can volume data and innovation. The European growth story is intact, and we expect improved margin performance this year. We are focused on cost control and market tightness, which should be positive for profitability. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Ardagh Group S.A. today announced results for the second quarter ended June 30, 2026. LUXEMBOURG, July 23, 2026 /PRNewswire/ -- Second Quarter 2026 highlights: Second Quarter 2026 Adjusted EBITDA of $410 million, +6% annual growth Last Twelve Months (LTM) Adjusted EBITDA of $1,468 million, +12% annual growth Cash and available liquidity of $1,441 million as at June 30, 2026 Mark Porto, Executive Chairman of Ardagh Group, said:"Ardagh Group continued its encouraging start to the year, with 6% Adjusted EBITDA growth in the second quarter versus the prior year quarter. Performance in Ardagh Metal Packaging was strongly ahead of expectations, and despite a challenging macro-economic environment, performance in Ardagh Glass Packaging was broadly in line with our expectations. We are encouraged by the improved volume performance for Ardagh Glass Packaging, which achieved 3% global volume growth in the quarter, although the demand outlook remains uncertain, with a divergence in the pace of recovery across regions and by product categories. Since our last update, the full year outlook for AMP has improved, however we face additional pressure in the full year outlook for AGP, including increased input cost inflation arising from the Middle East conflict. In response to the challenging environment for glass packaging, we recently launched our "Clearly Ardagh" turnaround strategy, which is a major strategic initiative to transform AGP. It is focused on better aligning our capacity to market demand, driving efficiency in our operations and across our business, strengthening our commercial partnerships and reinforcing a high-performance culture throughout the organisation. The actions taken as part of the "Clearly Ardagh" initiative will ensure that AGP is more resilient and better placed to reinforce its position as a key player in the dynamic global glass packaging industry." Ardagh Group Adjusted EBITDA of $410 million for the quarter represented a 6% increase versus the prior year (+4% at constant currency). This was driven by growth of 14% (+13% at constant currency) in Ardagh Metal Packaging (AMP) to $240 million, partly offset by a decline of 4% (-8% at constant currency) in Ardagh Glass Packaging (AGP) to $170 million. AMP global shipments decreased by 1% in the quarter versus the prior year quarter, and cycled strong prior year growth (+5%), due to a 6% decrease in the Americas – reflecting a 5% decline in North America and a 15% decline in Brazil – largely offset by a 5% increase in Europe. AGP global shipments grew by 3% in the quarter versus the prior year due to a 5% increase in Europe & Africa shipments – reflecting growth of 3% in Europe and an increase of 16% in Africa - and a 2% decline in North America. AGP confirms that following an engagement with employee representatives, the Germersheim facility in Germany will close during the third quarter of 2026. This decision reflects ongoing efforts to assess capacity requirements in response to challenging demand conditions, consistent with the first pillar "Strategic Capacity & Network Evolution" of the Clearly Ardagh glass turnaround strategy. Ardagh Group ended the quarter in a strong liquidity position, with consolidated cash and available liquidity of $1,441 million as at June 30, 2026, of which $794 million is held in ARGID Group (ARGID) – which refers to Ardagh Group S.A. and certain of its subsidiaries – includes the glass packaging operations but excludes AMP. Ardagh Group net debt to Adjusted EBITDA reduced to 6.1x as at June 30, 2026, down from 8.0x at the end of the prior year quarter, which includes the impact of the recapitalization. ARGID net debt to Adjusted EBITDA was 5.5x as at June 30, 2026. On June 22, 2026, Ardagh Group announced an Excess Proceeds Offer (the "Offers"), to apply up to $91,872,296 arising from the redemption of the AMP preferred shares in December 2025 towards the purchase of first lien senior secured notes and second lien senior secured notes. On July 22, 2026, the Board of Directors approved the appointment of Todd Brents as Chief Financial Officer. Todd Brents had served as Interim Chief Financial Officer since January 1, 2026 and will continue to lead the Group's finance function. A copy of the second quarter 2026 interim report be found at: https://www.ardaghgroup.com/investors/financial-results About Ardagh GroupArdagh Holdings S.A. is the ultimate parent company of Ardagh Group, which is a global supplier of infinitely recyclable metal beverage and glass container packaging for brand owners around the world. Ardagh Group operates 58 metal and glass production facilities in 16 countries, employing approximately 19,000 people with sales of approximately $9.6 billion. For more information, visit https://www.ardaghgroup.com/investors Earnings Webcast and Conference Call DetailsArdagh Group S.A. will hold its second quarter 2026 earnings webcast and conference call for investors at 11.00 a.m. EDT (4.00 p.m. BST) on Thursday July 23, 2026. Please use the following webcast link to register for this call: Webcast registration and access:https://event.webcasts.com/viewer/event.jsp?ei=1765974&tp_key=7970423f53 Conference call dial in:United States/Canada: +1 646-769-9200International: +44 (0)20 7769 6464Participant pin code: 9506275 DisclaimerThis release presents Adjusted EBITDA and net debt to Adjusted EBITDA, which are not defined under IFRS Accounting Standards. Adjusted EBITDA consists of profit/(loss) for the period before income tax charge/(credit), net finance expense, depreciation and amortization, exceptional operating items and share of profit or loss in equity accounted joint venture. We use Adjusted EBITDA to evaluate and assess our segment performance. Adjusted EBITDA is presented because we believe that it is frequently used by securities analysts, investors and other interested parties in evaluating companies in the packaging industry. However, other companies may calculate Adjusted EBITDA in a manner different from ours. Adjusted EBITDA and net debt to Adjusted EBITDA are not measures of financial performance under IFRS Accounting Standards and should not be considered an alternative to profit/(loss) as indicators of operating performance or any other measures of performance derived in accordance with IFRS Accounting Standards. This release may include "forward-looking statements," including certain statements, estimates, targets and projections provided by Ardagh Group S.A. with respect to its anticipated future performance, financial condition, plans, objectives and business outlook. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "could," "estimates," "anticipates," "aims," "expects," "intends," "may," "will," "plans," "continue," "potential," "predict," "project," "target," "seek," "should," or "would," or, in each case, their negative or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Such forward-looking statements are not guarantees of future performance. You should not place undue reliance on these statements. They reflect significant assumptions and subjective judgments by management, which may or may not prove to be correct, and there can be no assurance that any estimates, targets or projections are attainable or will be realized. Neither Ardagh Group S.A., nor any of its affiliates or directors, partners, employees or advisers, accepts any responsibility for the accuracy or completeness of such statements or assumes any obligation to update or revise them to reflect changes in expectations or events, conditions or circumstances on which such statements are based. Contacts:Investors: Email: [email protected] Media:Pat Walsh, Murray ConsultantsTel.: +353 1 498 0300 / +353 87 2269345Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/ardagh-group-sa--second-quarter-2026-results-302832466.html

Interested in Ardagh Metal Packaging S.A.? Here are five stocks we like better. Ardagh Metal Packaging raised full-year 2026 adjusted EBITDA guidance to $775 million-$790 million after second-quarter EBITDA of $240 million topped expectations, driven by stronger Europe performance and better input cost recovery. Europe was the main growth engine, with revenue up 13% and adjusted EBITDA up 36% as shipments rose 5%; the company also said tight regional capacity and strong demand are supporting further investment in the U.K. and Spain. Americas volumes were mixed: North American shipments fell 5% and Brazil shipments dropped 15%, but revenue still increased due to higher pass-through pricing, and management expects supply conditions and industry demand to improve later in the year. Ardagh Metal Packaging (NYSE:AMBP) raised its full-year adjusted EBITDA outlook after second-quarter results came in ahead of expectations, with management citing stronger-than-expected performance in Europe and favorable input cost recovery. Chief Executive Officer Oliver Graham said the company delivered second-quarter adjusted EBITDA of $240 million, up 14% from the prior-year period and above its guidance range of $210 million to $220 million. Global beverage can sales declined 1% year over year, which Graham said was in line with expectations as the company cycled 5% growth in the prior-year quarter. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Graham said shipments were affected by contract resets in North America and lower shipments in Brazil, partly offset by strong volume growth in Europe. He said Ardagh Metal Packaging expects to return to modest global volume growth in the second half of 2026. “Our performance year-to-date is testament to the resilience of our business,” Graham said. “In an uncertain macroeconomic environment, AMP has delivered strong second quarter adjusted EBITDA growth of 14% versus the prior year, significantly ahead of expectations.” → 3 Photonics Companies Making Quantum Tech Possible In Europe, second-quarter revenue rose 13% to $698 million, or 10% on a constant currency basis, compared with the same period in 2025. Graham said the increase reflected favorable volume and mix effects, along with the pass-through of higher input costs, including aluminum prices. European shipments increased 5% in the quarter, supported by strong underlying demand and the ramp-up of newly contracted volumes. Graham said the company saw growth in carbonated soft drinks, energy drinks and several smaller growing beverage categories. He also noted improved underlying beer performance, while saying reported year-over-year beer can shipments were reduced by specific contract losses. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off Adjusted EBITDA in Europe rose 36% to $105 million, or 33% on a constant currency basis. Graham attributed the increase primarily to stronger input cost recovery, including a favorable metal pricing timing impact, and volume growth, partly offset by higher operations and overhead costs. Graham said the company remains well covered for its direct energy needs through hedging programs. He said Ardagh Metal Packaging is more than 85% covered for 2026 energy requirements, approximately 80% covered for 2027 and nearly 70% covered for 2028. The company reaffirmed its expectation for approximately 3% volume growth in Europe for 2026. Graham said beverage can consumption trends in available scanner data remain “very positive” and that capacity remains tight in the region. Ardagh Metal Packaging said it will increase planned investments in the U.K. and Spain following customer discussions and strong demand in those markets. Chief Financial Officer Stefan Schellinger said the company now expects total 2026 capital expenditures of $240 million, up $40 million from prior guidance, driven by the upsizing of those new capacity investments. Graham said the company is also reviewing the timing of the projects because of demand strength and will provide an update later. “Capacity remains tight in the region, and our production volumes in the quarter benefited from the network optimization actions that we undertook,” Graham said. In the Americas, second-quarter revenue increased 21% to just over $1 billion, mainly reflecting the pass-through of higher input costs to customers, including metal costs and freight cost pass-throughs. Lower shipments partly offset the revenue increase. Adjusted EBITDA in the Americas rose 2% to $135 million. Graham said results were broadly in line with expectations, with lower operations and overhead costs offsetting lower input cost recovery and lower shipments. North American shipments declined 5% in the quarter. Graham said the decline reflected expected contract resets, metal supply chain challenges at the start of the quarter and comparison with 8% growth in the prior-year period. He said metal supply availability in North America improved significantly during the quarter and the company expects normal supply conditions in the second half. Graham said industry demand in North America remains robust outside of beer, a category where AMP has low single-digit exposure. He highlighted continued strength in energy drinks and specialty can formats. Ardagh Metal Packaging continues to expect low single-digit industry growth in North America in 2026, while expecting its own full-year volumes to decline slightly because of contract resets. Graham said the company expects a more favorable second-half volume performance and a return to growth in 2027 “at least in line with the industry,” supported by additional customer filling locations. In Brazil, second-quarter shipments decreased 15%. Graham said the decline reflected customer mix effects after the company outperformed in the first quarter, when volumes grew 14%. He said increased World Cup-related activity by a leading market player negatively affected customer performance, as did maintenance downtime by one customer. Management now expects low single-digit industry growth in Brazil for 2026 and for AMP volumes to broadly track the market. Ardagh Metal Packaging raised its 2026 full-year adjusted EBITDA guidance to a range of $775 million to $790 million. Graham said the outlook assumes some reversal of favorable metal price timing effects and first-quarter revaluation gains related to freight cost hedging. He also cited inflationary headwinds tied to freight costs and other direct materials affected by oil prices amid conflict in the Middle East. For the third quarter, the company expects adjusted EBITDA of $200 million to $210 million, compared with $208 million in the prior-year quarter on a constant currency basis. Schellinger said Ardagh Metal Packaging ended the quarter with liquidity of $647 million. Net leverage was 5.2 times net debt to last-12-month adjusted EBITDA, compared with 5.3 times at the end of June 2025, or 5.7 times on a like-for-like basis after pro forma treatment of last year’s preferred share refinancing with debt. For 2026, Schellinger said the company expects: Total capital expenditures of $240 million, including growth investments; Cash interest of $220 million; Lease principal repayments of approximately $150 million; Cash taxes of approximately $30 million; A small working capital outflow. He said the company’s full-year adjusted free cash flow expectation remains unchanged. Ardagh Metal Packaging also announced an unchanged quarterly ordinary dividend of $0.10 per share. Management also provided an update on litigation involving Boston Beer. Graham said that on May 26, 2026, a court entered an amended final judgment to include $15.5 million in prejudgment interest, bringing the total expected award value to approximately $190 million on a pre-tax basis. He said Boston Beer has posted a bond with the court to cover the award value and has filed a notice of appeal. Graham also marked Ardagh Metal Packaging’s 10-year anniversary, saying the company has invested more than $2 billion in growth capital over that period, increased capacity by more than 30% and expanded specialty cans to more than 50% of volumes. Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating. The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Ardagh Metal Packaging Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed the 14% adjusted EBITDA growth primarily to Europe's outperformance, driven by favorable input cost recovery and strong volume growth in energy and soft drink categories. North American performance was impacted by expected contract resets and early-quarter metal supply constraints, though supply conditions normalized by the end of the period. The company is transitioning its portfolio toward specialty cans, which now represent over 50% of volumes, to align with high-growth beverage categories like energy drinks. In Brazil, performance was hindered by increased competitive activity from a leading player during the World Cup and maintenance downtime at a key customer site. Management emphasized the 10-year transformation of the business into an integrated global entity with capacity now 30% higher than at its inception. Network optimization actions in Europe were implemented to better serve customers with high-demand can sizes in rapidly growing market segments. Full-year 2026 adjusted EBITDA guidance was upgraded to $775 million–$790 million, assuming a partial reversal of favorable metal pricing timing effects in the second half. The company expects to return to modest global volume growth in the second half of 2026, supported by robust underlying demand and a more favorable North American comparison. Management anticipates 2027 North American growth to be at least in line with the industry, bolstered by newly secured customer filling locations. Capital expenditure guidance was increased by $40 million to $240 million to upsize capacity expansion projects in the UK and Spain due to strong commercial engagement. Second-half projections include mid-single-digit million-dollar headwinds from freight and material inflation linked to Middle East instability. A legal judgment against Boston Beer was amended to include $15.5 million in interest, bringing the total expected pre-tax award to approximately $190 million, though it remains under appeal. Energy needs are heavily hedged to mitigate volatility, with over 85% coverage for 2026 and approximately 80% for 2027. Management flagged Brazil as a source of volatility, noting that the market has become harder to predict due to shifting brewer strategies and consumer weakness. The company is monitoring potential volume impacts from the introduction of new deposit schemes in markets like Poland. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expects 2027 to benefit from the same contract resets that created a transition year in 2026, alongside additional filling locations. The portfolio remains weighted toward outperforming categories like energy drinks, while exposure to the weaker mass beer category is limited to low-single digits. Europe is seeing a recovery toward pre-energy crisis levels, with EBITDA per thousand cans improving through cost-focus programs and tight market conditions. The 'can story' remains intact as customers shift from glass to cans earlier in product launch cycles due to sustainability and cost advantages. The $25 million beat versus consensus was more than half driven by metal timing benefits in Europe. Approximately one-third of this metal timing benefit is expected to reverse as a headwind in the second half of the year.

Ardagh Metal Packaging S.A. (AMBP) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +22.22%. A quarter ago, it was expected that this company would post earnings of $0.04 per share when it actually produced earnings of $0.05, delivering a surprise of +25%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Ardagh Metal Packaging, which belongs to the Zacks Containers - Metal and Glass industry, posted revenues of $1.71 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.90%. This compares to year-ago revenues of $1.46 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Ardagh Metal Packaging shares have added about 14.9% since the beginning of the year versus the S&P 500's gain of 9.6%. While Ardagh Metal Packaging has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Ardagh Metal Packaging was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.08 on $1.52 billion in revenues for the coming quarter and $0.25 on $6 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Containers - Metal and Glass is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Silgan Holdings (SLGN), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 29. This packaging products supplier is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of -5%. The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level. Silgan Holdings' revenues are expected to be $1.62 billion, up 5.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ardagh Metal Packaging S.A. (AMBP) : Free Stock Analysis Report Silgan Holdings Inc. (SLGN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

LUXEMBOURG, July 23, 2026 /PRNewswire/ -- Ardagh Metal Packaging S.A. (NYSE: AMBP) today announced results for the second quarter ended June 30, 2026. Oliver Graham, CEO of Ardagh Metal Packaging (AMP), said: "AMP continued its strong performance in the second quarter, with Adjusted EBITDA growth of 14% versus the prior year, significantly ahead of our guidance. Beverage can shipments declined by 1% versus the prior year quarter as we cycled strong prior year growth. Shipments were also impacted by contract resets in North America and lower shipments in Brazil following outperformance in the first quarter, partly offset by strong volume growth in Europe. This was in line with our expectations and comes ahead of an expected return to modest global volume growth in the second half, supported by the strength in global beverage can demand and our attractive customer and portfolio mix. Our Adjusted EBITDA outperformance in the quarter was primarily driven by Europe, which benefitted from favorable input cost recovery and strong volume growth. Americas performance was broadly in line with expectations – despite softness in the Brazil industry, and metal supply constraints impacting shipments in North America. Metal supply availability in North America significantly improved over the course of the second quarter, and we anticipate operating under normal supply conditions during the second half of the year. We are pleased to upgrade our full–year 2026 Adjusted EBITDA guidance, despite an uncertain macro–economic backdrop, to a range of between $775–790 million. I would like to share that this year AMP celebrates it's 10–year anniversary since its formation. Over the last decade, AMP has developed into a resilient global competitor, backed by significant investment in our facilities, our people and in our processes, to support the growth of our global and regional customers across a diverse range of categories. In celebrating this milestone, we extend our thanks to our customers, employees, suppliers and to all stakeholders that have made this successful journey possible, and we look forward to continued success ahead." Global beverage can shipments declined by 1% in the quarter versus the prior year quarter, and cycled strong prior year growth (+5%). The global shipments decline was driven by a decrease of 6% in the Americas as North America decreased by 5%, as a result of the previously communicated contract resets, and Brazil decreased by 15% due to customer mix. H1 Brazil shipments were broadly in line with the industry. This was offset by growth of 5% in Europe. Adjusted EBITDA of $240 million for the quarter was ahead of our guidance range of $210–220 million, driven by a strong outperformance in Europe and represented a 14% increase (13% at constant currency) versus the prior year quarter. In the Americas Adjusted EBITDA for the quarter increased by 2% to $135 million, resulting from lower operations and overhead costs compared with the prior year quarter, partly offset by lower input cost recovery and lower shipments. In Europe Adjusted EBITDA for the quarter increased by 36% (33% at constant currency) to $105 million, primarily due to stronger input cost recovery – including a favorable pricing impact related to metal timing – and volume growth, partly offset by higher operations and overhead costs. Strong total liquidity position of $647 million at June 30, 2026. Net debt to Adjusted EBITDA ratio reduces to 5.2x – favourable to expectations – and down from 5.3x at June 30, 2025 (5.7x on a like for like basis, pro–forma for the Q4 2025 refinancing of the preferred shares). Regular quarterly ordinary dividend of 10c announced. No change to capital allocation priorities. 2026 Adjusted EBITDA guidance improved: Raising the full year 2026 Adjusted EBITDA guidance range to between $775–790 million, from the prior guidance range of $750–775 million, assuming modest global shipments growth. Guidance assumes some reversal of the favorable first half timing–related factors during the second half – such as the favorable pricing impact of metal timing and Q1 revaluation gains related to freight cost hedging – as well as some inflationary headwinds as a result of the conflict in the Middle East. Third quarter Adjusted EBITDA expected to be in the range of $200–210 million. This compares with Q3 2025 Adjusted EBITDA of $208 million ($207 million at constant currency). Group Performance Group Revenue increased by $258 million or 18% to $1,713 million in the three months ended June 30, 2026, compared with $1,455 million in the same period last year. On a constant currency basis, revenue increased by 16%, principally reflecting the pass through of higher input costs to customers and favorable volume/mix effects. Adjusted EBITDA increased by $30 million, or 14%, to $240 million in the three months ended June 30, 2026, compared with $210 million in the same period last year. On a constant currency basis, Adjusted EBITDA increased by 13%, principally due to higher input cost recovery, partly offset by higher operations and overhead costs. Americas Revenue increased by $175 million, or 21%, on a reported and constant currency basis, to $1,015 million in the three months ended June 30, 2026, compared with $840 million in the same period last year, principally reflecting the pass through of higher input costs to customers, partly offset by unfavorable volume/mix effects. Adjusted EBITDA increased by $2 million, or 2%, to $135 million on a reported and constant currency basis, compared with $133 million in the same period last year, primarily driven by lower operations and overhead costs, partly offset by lower input cost recovery and unfavorable volume/mix effects. Europe Revenue increased by $83 million, or 13%, to $698 million in the three months ended June 30, 2026, compared with $615 million in the same period last year. On a constant currency basis, revenue increased by 10% principally due to the pass through of higher input costs to customers and favorable volume/mix effects. Adjusted EBITDA increased by $28 million, or 36%, to $105 million in the three months ended June 30, 2026, compared with $77 million in the same period last year. On a constant currency basis, Adjusted EBITDA increased by 33% principally due to higher input cost recovery, partly offset by higher operations and overhead costs. Earnings Webcast and Conference Call Details Ardagh Metal Packaging S.A. (NYSE: AMBP) will hold its second quarter 2026 earnings webcast and conference call for investors at 9.00 a.m. EDT (2.00 p.m. BST) on Thursday July 23, 2026. Please use the following webcast link to register for this call: Webcast registration and access: https://event.webcasts.com/viewer/event.jsp?ei=1765961&tp_key=0376c05a25 Conference call dial in: United States/Canada: +1 646 769 9200International: +44 020 7769 6464Participant pin code: 4417361 An investor earnings presentation to accompany this release is available at https://ir.ardaghmetalpackaging.com/ About Ardagh Metal Packaging Ardagh Metal Packaging (AMP) is a leading global supplier of sustainable and infinitely recyclable metal beverage cans to brand owners globally. An operating business of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. AMP operates 23 production facilities in nine countries, employing approximately 6,500 people with sales of approximately $5.5 billion in 2025. For more information, visit https://ir.ardaghmetalpackaging.com/ Forward-Looking Statements This release contains "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts and are inherently subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this release. Certain factors that could cause actual events to differ materially from those discussed in any forward-looking statements include the risk factors described in Ardagh Metal Packaging S.A.'s Annual Report on Form 20-F for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (the "SEC") and any other public filings made by Ardagh Metal Packaging S.A. with the SEC. In addition, new risk factors and uncertainties emerge from time to time, and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual events to differ materially from those contained in any forward-looking statements. Under no circumstances should the inclusion of such forward-looking statements in this release be regarded as a representation or warranty by us or any other person with respect to the achievement of results set out in such statements or that the underlying assumptions used will in fact be the case. Therefore, you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking information presented herein is made only as of the date of this release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. The person responsible for the release of this information on behalf of Ardagh Metal Packaging Finance plc and Ardagh Metal Packaging Finance USA LLC is Stephen Lyons, Investor Relations Director. Non-IFRS Financial Measures This release may contain certain financial measures such as Adjusted EBITDA, Adjusted operating cash flow, Adjusted free cash flow, net debt and ratios relating thereto that are not calculated in accordance with IFRS® Accounting Standards. Non-IFRS financial measures may be considered in addition to IFRS financial information, but should not be used as substitutes for the corresponding IFRS measures. The non-IFRS financial measures used by Ardagh Metal Packaging S.A. may differ from, and not be comparable to, similarly titled measures used by other companies. Contacts:Investors: Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/ardagh-metal-packaging-sa--second-quarter-2026-results-302833233.html