By Katherine Hamilton

Ardagh Metal Packing shares rose after the company increased its full-year outlook and said it won't be hurt much by tariffs.

Shares climbed 26% to $3.49 on Thursday following the earnings report. The stock has gained a quarter of its value this year.

The Luxembourg maker of metal beverage cans said it expects a minimal impact from tariffs, which include new trade duties on certain metals and countries importing to the U.S. Ardagh doesn't have any can-making operations outside the U.S. and its customers are hedged on metal exposure, management said during a call. The increasing price of metals from the U.S., known as the Midwest Premium, is adding 1 cent to the retail cost of a can, they said.

The company upgraded its expectations for shipments this year to 3% to 4% growth, thanks to the momentum it said it is currently experiencing.

Shipments grew more than 6% in the first quarter, climbing 7% in the U.S. alone. Energy drinks and non-alcoholic beverages drove those gains.

Ardagh posted a loss of $5 million, or 2 cents a share, in the quarter ended March 31, compared with a loss of $12 million, or 3 cents a share, the year before. Revenue rose 13% to $1.27 billion, beating analysts expectations of $1.17 billion, according to FactSet.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 24, 2025 12:26 ET (16:26 GMT)

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