Adjusted EPS Growth
Adjusted earnings per share of $1.86, up 11% versus $1.67 a year ago, showing improved underlying profitability despite GAAP EPS softness.
Strong Top-Line Performance
Net sales increased 13% year-over-year, reflecting higher volumes and price pass-throughs (including $234 million attributable to pass-through of higher raw material costs and $74 million favorable FX).
Global Beverage Volume Growth
Global beverage can unit volumes rose 5% in the quarter, driven by strong demand in Europe and Asia Pacific and supportive trends in North America.
Regional Outperformance — Europe
European beverage volumes advanced 7% with segment income increasing 28%, benefiting from tight capacity and sustained demand across Northwest and Southern Europe and Gulf States.
Asia Pacific Momentum
Asia Pacific segment income rose 10% on 17% unit volume gains, with notable growth across Vietnam, Cambodia, and China driven by commercial adjustments and cost reduction programs.
Cash Generation and Capital Returns
Company returned in excess of $250 million to shareholders in Q1, repurchased ~6% of outstanding shares over the last five quarters, plans approximately $600 million of repurchases for 2026, and maintains FCF guidance of ~ $900 million after ~$550 million of CapEx.
Solid Segment and Company-Level Guidance
Q2 adjusted EPS guidance of $2.10–$2.20 and full-year guidance of $7.90–$8.30 (including a $0.10/share headwind from the Middle East) with net leverage expected to finish near 2.5x.
Operational Milestones and Capacity Investments
Company recorded its highest-ever shipment day and strongest shipment month (March); ongoing growth projects and greenfield expansions in Brazil, Greece, Spain and India (India greenfield ~2.2 billion units added; India market ~4–5 billion units and growing 15–20% annually).
Other Segment Strength
North American food cans volumes up 3% and 'Other' segment income increased by $18 million; beverage can equipment income tripled year-over-year in the quarter (off a smaller base) with improving order inflows.