Ardagh Q3 2026 slides: metal beats guidance as glass faces headwinds
Ardagh Group reported its Q3 2026 results on October 22, showcasing a contrast between its metal and glass divisions. The metal packaging arm, Ardagh Metal Packaging, exceeded expectations with shipment growth and raised its full-year guidance. In contrast, Ardagh Glass Packaging faced headwinds from rising energy costs due to geopolitical tensions in the Middle East, prompting management to consider further capacity reductions.
Ardagh Group's consolidated adjusted EBITDA for the quarter remained flat at $392 million, while revenue grew to $2,785 million from $2,504 million in the same period last year. Europe saw a 2% increase in metal can shipments, partially offsetting a 1% decline in the Americas. Glass bottle shipments, however, fell globally by 1%, with a 6% decline in North America.
Despite these challenges, Ardagh Group maintained a total cash and available liquidity of $1,470 million at the end of September 2026, with a net leverage of 5.5 times adjusted EBITDA.
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