O-I Glass Q1 adj EPS $1.29 beats $0.80-0.85 guidance; raises FY outlook to $3.05-3.25

O-I Glass, Inc. /DE/

2023-Q1 EPS reported $1.29 revenue$1,831,000,000

Q1 adj EPS $1.29 beats guidance of $0.80-0.85; reported EPS $1.29; revenue $1.8B ($1.7B YoY).
Segment operating profit $398M vs $231M YoY; Americas $176M, Europe $222M.
Sales volume down 8% (tons); Americas -5%, Europe -12% due to tough comps, Peru unrest, France strikes.
FY adj EPS guidance raised to $3.05-3.25 from ≥$2.50; aFCF ≥$475M; capex ~$700-725M.
Q2 adj EPS guidance $0.80-0.85; prior year $0.73; volume down modestly.

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 1.0

O-I Glass, Inc. /DE/ reported first quarter ended March 31, 2023 results: EPS $1.29 per share (diluted).

Period: first quarter ended March 31, 2023
EPS: $1.29 per share (diluted)
Result: reported results

Exact text from the filing

Net earnings attributable to the company were $1.29 per share (diluted) in the first quarter of 2023 compared to $0.55 per share (diluted) in the prior year period. Adjusted earnings were $1.29 per share (diluted) in the first quarter of 2023, compared to $0.56 per share (diluted) in the prior year period. Actual results exceeded original guidance of $0.80 to $0.85 per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

O-I Glass, Inc. /DE/ reported full year 2023 results: EPS $3.05 - $3.25 per share. Guidance raised.

Period: full year 2023
EPS: $3.05 - $3.25 per share
Guidance: raised
Result: guidance update

Exact text from the filing

O-I has increased its full year guidance for adjusted earnings per share, free cash flow and adjusted free cash flow given very good first quarter performance. The company now anticipates 2023 adjusted earnings will approximate $3.05 to $3.25 per share, compared to prior guidance of at least $2.50 per share, reflecting incremental net price realization as well as strong operating and cost performance.

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Source: SEC EDGAR

accession 0001104659-23-049648

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