AMP Reports Q1 Revenue of $1.50B, Exceeds Expectations
Reports Q1 revenue $1.50B, consensus $1.37B. CEO Oliver Graham said: "We are pleased to report strong first quarter results for AMP, with Adjusted EBITDA growth of 15% versus the prior year, significantly ahead of our guidance and demonstrating the resilience of our business. Beverage can sales declined by 1% versus the prior year quarter, in line with our expectations, as we cycled strong prior year growth (+6%) and due to the impact of contract resets in North America. Our Adjusted EBITDA outperformance in the quarter was driven by Europe, which benefitted from strong input cost recovery and favorable volume/mix...We reaffirm our full year Adjusted EBITDA guidance for 2026 despite macro-economic and geopolitical uncertainty - and the associated increases in certain input costs - and we continue to anticipate moderate global shipments growth. AMP's guidance is supported by our Q1 outperformance, our robust contractual cost pass-through mechanisms, energy hedging arrangements, and volume outlook, all of which help mitigate the potential impact of higher commodity prices."
