2024-04-29 10:30:00 ET
Summary
- Ardagh Metal Packaging reported a strong start to the year with 11% revenue growth in the Americas.
- The company's operating profit was $14M, resulting in a net loss of $12M.
- AMBP expects an increase in EBITDA of over 25% for the current quarter and confirms full-year EBITDA at $630-660M.
Introduction
I have been following Ardagh Metal Packaging ( AMBP ) since the company went public through a spinoff from the Ardagh Group , which remains the company’s majority shareholder. Shareholders from day one in AMBP haven’t had a lot of reasons to be too happy yet. Yes, the company pays a handsome dividend, but that’s meaningless if you’re sitting on a 50%+ capital loss. As I am a strong believer in the aluminum can business, I continued to average down in the name, waiting for the growth capex to come down to next to nothing as the underlying sustaining free cash flow generated by the company remained strong....
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Ardagh Metal Packaging: Stubbornly Maintaining Its 10% Dividend Yield