Revenue Growth
Fourth quarter net sales approximately $1.5 billion, up 4% year-over-year, driven by contractual pass-through of higher raw materials and favorable foreign currency translation.
Strong Segment Performance — Dispensing & Specialty Closures (DSC)
DSC (now >50% of adjusted EBITDA) delivered record sales, adjusted EBIT and adjusted EBITDA with continued EBITDA margin expansion and significant free cash flow generation; organic volumes expected to grow low- to mid-single-digit in 2026 driven by mid-single-digit dispensing product growth.
Metal Containers Volume and Earnings Strength
Metal Containers delivered positive earnings and volume trends: full-quarter volumes grew ~4% (Q4 volumes +4%) with pet food volumes up 7%; Q4 Metal Containers sales rose 11% YoY (largely raw material pass-through) and segment adjusted EBIT increased ~5% YoY, benefiting from cost management and pet-food mix.
Custom Containers Profitability and Margin Expansion
Custom Containers delivered a record year of profitability; adjusted EBIT and EBITDA margins expanded by ~150 basis points versus prior year, positioning the business for accelerated growth despite flat near-term volumes.
Successful M&A Integration and Cost Initiatives
Vayner acquisition fully integrated with run-rate synergies achieved; completed multiyear cost savings program as expected; combined innovation pipeline producing new contractual wins and commercial synergies across dispensing businesses.
Capital Allocation and Balance Sheet
Returned approximately $150 million to shareholders in 2025 and returned leverage to within target range just over a year after the Vayner acquisition; free cash flow expected of approximately $450 million in 2026 (midpoint outlook) with planned CapEx of ~$310 million to support growth.
2026 Financial Guidance — Operating Improvement
2026 adjusted EPS guidance $3.70–$3.90 versus $3.72 in 2025 (midpoint implies slight EPS improvement); company expects to exceed prior year adjusted EBIT and adjusted EBITDA at the midpoint of the range.
Operational Resilience and New Business Wins
Company highlighted market-leading innovation and customer partnerships that continue to win an outsized proportion of new product launches (e.g., 27–28 product launches cited), and reported incremental contractual business wins from combined capabilities.