Ardagh Metal Packaging (AMBP) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue rose 9% year-over-year to $1,428 million, with Adjusted EBITDA up 6% to $208 million, reaching the upper end of guidance.

• Full-year Adjusted EBITDA guidance was raised to $720–$735 million, with expected shipment growth of approximately 3%.

• Americas and Europe segments delivered EBITDA growth, offsetting a 17% volume decline in Brazil, while global beverage can shipments declined 1% in Q3.

• Sustainability progress included a 10% reduction in Scope 1 and 2 emissions and a 14% reduction in Scope 3 emissions year-over-year, now 25% below 2020 baseline.

• The beverage can continues to gain share in the global packaging mix, supported by innovation, sustainability trends, and regulatory changes.

Financial highlights

• Q3 2025 revenue: $1,428 million (up 9% year-over-year, 6% at constant currency).

• Adjusted EBITDA: $208 million (up 6% year-over-year, 3% at constant currency).

• Net income for Q3 2025: $27 million, up from $18 million in Q3 2024.

• Basic and diluted EPS: $0.04 (Q3 2025) vs $0.02 (Q3 2024); Adjusted EPS: $0.08 (unchanged year-over-year).

• Regular quarterly dividend of $0.10 per share declared.

Outlook and guidance

• Full-year 2025 Adjusted EBITDA guidance increased to $720–$735 million.

• Full-year shipment growth forecast at approximately 3%, with growth in North America and Europe offset by softness in Brazil.

• Adjusted Free Cash Flow for 2025 expected at least $150 million; total capex forecast at $200 million, with one-third for growth investments.

• Europe full-year shipment growth expected at low single digits; 2026 market growth forecast at 3–4%.

• North America full-year shipment growth guidance maintained at mid-single digits; 2026 market growth expected at 1–2%, with AMP slightly softer due to footprint resets.