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Ardagh Metal Packaging lifts 2026 adjusted EBITDA guidance on growth trends
The company upgraded full-year 2026 adjusted EBITDA guidance to $775 million to $790 million and increased capex guidance by $40 million to $240 million.
Ardagh Metal Packaging S.A. said its Q2 2026 performance reflected 14% adjusted EBITDA growth, driven primarily by Europe, where favorable input cost recovery and strong volume growth supported results in energy and soft drink can categories, according to the company’s earnings call materials as summarized by Yahoo Finance.
Management noted North American performance was pressured by expected contract resets and early-quarter metal supply constraints, but supply conditions normalized by the end of the period. The company is also shifting its portfolio toward specialty cans, which now account for more than 50% of volumes, to align with higher-growth beverage categories.
In Brazil, Ardagh said performance was hurt by increased competition from a leading player during the World Cup and by maintenance downtime at a key customer site. The company also described a 10-year transformation into an integrated global entity, with capacity now 30% higher than at inception, and said it implemented network optimization in Europe to serve high-demand can sizes.
For outlook, Ardagh upgraded its full-year 2026 adjusted EBITDA guidance to $775 million to $790 million, assuming some reversal of favorable metal pricing timing effects in the second half. The company also raised capital expenditure guidance by $40 million to $240 million for capacity expansion projects in the UK and Spain, and cited mid-single-digit million-dollar headwinds in the second half from freight and material inflation tied to Middle East instability, per Yahoo Finance’s summary. Separately, it said a legal judgment against Boston Beer was amended to add $15.5 million in interest, taking the total expected pre-tax award to about $190 million, though it remains under appeal.