O-I Glass Q3 adjusted EPS $0.63 beats guidance; raises FY2022 outlook

O-I Glass, Inc. /DE/

2022-Q3 EPS reported $3.59 revenue$5,163,000,000

Reported EPS from continuing ops $1.45 vs $0.48 YoY; adjusted EPS $0.63 (guidance $0.55–0.60) vs $0.58 YoY.
Segment operating profit $266M, up from $243M YoY; net price realization drove beat despite higher operating costs.
Full-year 2022 adjusted earnings now expected at high-end of recently increased guidance range; anticipates 2023 improvement.
Completed $1.5B portfolio optimization program in August; proceeds used to reduce debt and pre-fund expansion.
Moody's and S&P upgraded O-I's credit rating during Q3 on healthier balance sheet.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

O-I Glass, Inc. /DE/ reported the third quarter ended September 30, 2022 results: EPS $0.63. Guidance raised.

Period: the third quarter ended September 30, 2022
EPS: $0.63
Guidance: raised
Result: reported results

Exact text from the filing

Adjusted Earnings Earnings Per Share (Diluted) Segment Operating Profit $M 3Q22 3Q21 3Q22 3Q21 Non – GAAP 1 $0.63 $0.58 $266 $243 (Guidance: $0.55 - $0.60)

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Source: SEC EDGAR

accession 0001104659-22-113503

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