Ardagh Metal Packaging reports Q3 adjusted EPS 8c, consensus 7c

Reports Q3 revenue $1.31B, consensus $1.34B. Oliver Graham, CEO of Ardagh Metal Packaging (AMBP), said: “Our strong business performance in the quarter delivered double-digit Adjusted EBITDA growth, ahead of guidance. Growth in the quarter was driven by favorable volume/mix, higher input cost recovery and lower operating costs. We are encouraged by the resilience in beverage consumption trends across our markets during the quarter and we expect that the beverage can will continue to outperform other packaging types – supported by customer innovation and the can’s positive credentials regarding circularity and decarbonisation. Our outperformance through the year versus initial expectations, particularly in Europe, gives us the confidence to further improve our full year guidance for Adjusted EBITDA to $650-660 million.”