AMBP Stock: 5.71% Decrease Explanation
Feb 24th, 2023 0:57 EST
- The stock price of Ardagh Metal Packaging SA (NYSE: AMBP) fell by 5.71% in the most recent trading session. This is why.
The stock price of Ardagh Metal Packaging SA (NYSE: AMBP) fell by 5.71% in the most recent trading session.
Why: Ardagh Metal Packaging reported a Q4 EPS of $0.05, which was $0.03 lower than a consensus of $0.08. And the revenue for the quarter was $1.08 billion compared to a consensus of $1.14 billion.
“Our performance in Q4 was resilient as we navigated challenging market conditions, delivering 1% global shipment growth with equivalent growth in Adjusted EBITDA at constant currency. For the full year we delivered shipment growth of 5%, supported by our investment program, although softer-than-expected demand conditions resulted in fixed cost under-absorption. Into 2023 we have taken actions to drive double-digit earnings growth through volume increases, contract resets with our customers and disciplined cost and capacity management. Our investment program is largely complete, providing the strong foundation to capture secular growth for the sustainable beverage can and to generate positive adjusted free cash flow in 2023, and further meaningful improvement in cash generation beyond.”
— Oliver Graham, CEO of Ardagh Metal Packaging
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