Ardagh Metal Packaging Slips To Loss In Q4, Adj. EPS Miss Estimates; Stock Down In Pre-market

(RTTNews) - Ardagh Metal Packaging S.A. (AMBP) reported Thursday that its fourth-quarter net loss was $56 million or $0.10 per share, compared to prior year's profit of $12 million or $0.02 per share.

Adjusted earnings per share were $0.01, compared to $0.05 last year.

Revenue grew 5 percent to $1.13 billion from $1.08 billion in 2022. On a constant currency basis, revenue increased by 2%.

Analysts on average expected the company to report earnings of $0.04 per share on revenues of $1.11 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Further, the company announced that its board of directors has approved a quarterly cash dividend of $0.10 per ordinary share. This is payable on March 27 to shareholders of record on March 13.

Looking ahead for the first quarter, adjusted EBITDA is expected to be in line with the prior year quarter's $130 million.

For fiscal 2024, the company sees shipment growth approaching a mid-single digit % and adjusted EBITDA in the range of $630 million to 660 million.

In pre-market activity on the NYSE, Ardagh Metal shares were losing around 4.6 percent to trade at $3.75.

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