Ardagh Metal Packaging S.A. Q3 2025 Earnings Recap

Ardagh Metal Packaging reported a strong third quarter with a 6% increase in adjusted EBITDA year-over-year, driven by robust shipment growth in Europe and North America.

Key Takeaways

• Adjusted EBITDA reached $208 million, at the upper end of guidance, supported by lower operational costs and favorable category mix.
• European revenue increased 9% to $625 million, while Americas revenue rose 8% to $803 million, with both regions benefiting from product mix improvements.
• Despite shipment growth slowing in Brazil with a 17% decline, expect a modest rebound in Q4.
• Liquidity remains strong with over $600 million, and net leverage decreased to 5.2x adjusted EBITDA.
• The company upgraded full year adjusted EBITDA guidance to a range of $720 million to $735 million, anticipating approximately 3% shipment growth for the full year.