May 6 (Reuters) - Aluminum can maker Ball Corp BALL.N on Tuesday raised its annual profit forecast after beating analysts' estimates for first-quarter results, betting on resilient demand and a tight leash on costs.
The company expects full-year comparable profit growth to be between 11% and 14%, compared to its previous forecast of a growth of more than 10%.
Ball said on Tuesday the direct impact from U.S. President Donald Trump's 25% tariff on aluminum was manageable, and it was working to mitigate the effects of volatility in the metal's premium prices.
The company also emphasized on local sourcing and manufacturing to reduce exposure to international trade fluctuations.
Weak forecasts from the company's customer Constellation Brands STZ.N and other packaged foods companies including Kraft Heinz KHC.O and PepsiCo PEP.O had stoked concerns over sluggish demand for packaging material.
Ball Corp's aluminum cups and bottles are in demand among environmentally conscious consumers, given their sustainable nature and recycling-heavy sourcing, compared to plastic and processing-intensive tin-coated steel.
The company's first-quarter revenue rose 7.8% to $3.10 billion, compared with estimates of $2.89 billion, according to data compiled by LSEG.
Global aluminum packaging shipments increased 2.6%, while its selling, general and administrative costs declined about 37%.
Excluding items, the company earned a profit of 76 cents per share, beating expectations of 70 cents.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Sriraj Kalluvila)
((Neil.JKanatt@thomsonreuters.com;))
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