Ardagh Metal (AMBP) Drops 16% as Traders Shun Q2 Earnings

We recently published Double-Digit Disaster: 10 Big Names Fall Off the Cliff. Ardagh Metal Packaging S.A. (NYSE:AMBP) is one of the worst-performing stocks on Thursday.

Ardagh Metal dropped its share prices by 16.38 percent on Thursday to close at $3.88 apiece as investors did not seem impressed by its earnings performance in the second quarter of the year.

In a statement, Ardagh Metal Packaging S.A. (NYSE:AMBP) said that revenues increased by 15 percent to $1.455 billion during the period from $1.259 billion in the same quarter last year.

However, net income was only $5 million, albeit higher by 150 percent than the $2 million registered in the same period last year.

Looking ahead, Ardagh Metal Packaging S.A. (NYSE:AMBP) is expected to post adjusted EBITDA between $705-$725 million in the full-year period, with the figure already reflecting both improved underlying performance and favorable currency movements.

Ardagh Metal (AMBP) Drops 16% as Traders Shun Q2 Earnings

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“Global beverage can growth continues to benefit from innovation and share gains in our customers’ packaging mix, and we still anticipate only a minimal impact to our business arising from tariff measures announced,” said Ardagh Metal Packaging S.A. (NYSE:AMBP) CEO Oliver Graham.