Ardagh Metal Packaging reports Q1 adjusted EPS 2c, consensus 1c

Reports Q1 revenue $1.27B, consensus $1.17B. CEO Oliver Graham said: “Our Q1 performance represents a strong start to the year, with 6% global shipments growth and double-digit Adjusted EBITDA % growth versus the prior year, ahead of our initial guidance. Against the backdrop of a highly dynamic macro environment this performance is testament to the resilience of our business and the attractiveness of the beverage can as a packaging choice for our customers. Adjusted EBITDA for both geographic segments performed ahead of our expectations, driven by a strong shipments performance. At the current time we anticipate minimal impact to our business arising from the tariff measures announced. In North America, we have no can making operations outside of the U.S. Across our global operations our suppliers, customers and end consumers are all mostly local to the region. Our customers’ products are defensive in nature and beverage cans are typically resilient across economic cycles. Our robust business momentum in the current macro environment gives us confidence to upgrade our full year shipments growth to 3-4% and Adjusted EBITDA guidance to $695M-$720M – reflecting both improved underlying performance and recent favorable currency movements.”