Ardagh Metal Packaging revenue rises 19%, company raises annual earnings outlook
Key Facts
Ardagh Metal Packaging reported revenue of $1,694 million in the third quarter of 2026, up 19% year on year, while raising its full-year adjusted earnings outlook. Revenue in the third quarter of 2025 was about $1,428 million, according to the company's earnings statement. Ardagh attributed revenue growth primarily to passing higher input costs on to customers, alongside improved sales volumes and mix. In explaining the increase, the company cited "higher input costs," which were reflected in revenue as they were passed on to customers. Sales growth was accompanied by unchanged adjusted earnings per share of $0.08, compared with the same level in the corresponding period a year earlier.
On adjusted operating earnings, Ardagh reported earnings before interest, taxes, depreciation and amortization of $213 million in the third quarter, according to its earnings announcement. That compared with $208 million in the same period of 2025, representing year-on-year growth of 2%. The result exceeded the upper end of the company's guidance range of $200 million to $210 million for the quarter. Ardagh had announced that range in July when it disclosed its second-quarter results and outlook for the following period. Management attributed the quarter's performance above guidance to improved shipments and sales mix.
Across its operations, global beverage can shipments grew 2% year on year in the third quarter of 2026, according to the company. Europe led the growth, with shipments rising 6% from the corresponding period a year earlier. By contrast, shipments in the Americas fell 1% year on year, with a sequential improvement in North America. As part of its investment plans, Ardagh announced it was accelerating its European expansion by adding two new can production lines in Britain and Spain. Both lines will be installed at existing company facilities, expanding its European operations as the region led shipment growth during the quarter.
The increase in the annual outlook follows guidance announced in July that put adjusted earnings before interest, taxes, depreciation and amortization for 2026 at $775 million to $790 million. Under the update accompanying the third-quarter results, the expected range is now $785 million to $795 million. The revision raised both the lower and upper ends of annual guidance, according to a comparison of the company's two announcements. Ardagh linked its updated outlook to an assumption of modest growth in global shipments during the year. For the fourth quarter of 2026, it forecast adjusted earnings before interest, taxes, depreciation and amortization of $153 million to $163 million, amid inflationary pressures and a strong year-earlier shipment comparison.
On debt, the ratio of net debt to adjusted earnings before interest, taxes, depreciation and amortization stood at 5.1 times at the end of September 2026, according to the earnings statement. Alongside the third-quarter results announcement, Ardagh's board approved a quarterly cash dividend for shareholders. The company set the dividend at $0.10 per ordinary share, according to its dividend statement. Shareholders of record on November 26, 2026, will be entitled to the payment. Ardagh set the cash dividend payment date for December 10, 2026.