O-I Glass Q2 adjusted EPS $0.88 beats guidance; full-year outlook tightened to $3.10-$3.25

O-I Glass, Inc. /DE/

2023-Q2 EPS reported $1.98 revenue$3,721,000,000

Adjusted EPS $0.88 vs guidance $0.80-$0.85 and prior year $0.73.
Net sales $1.9B, up from $1.8B; segment operating profit $326M, up 27%.
Europe segment profit $200M (+57%); Americas $126M (-3%) with 9% volume decline.
Full-year adjusted EPS guidance tightened to $3.10-$3.25; Q3 guidance $0.68-$0.73.
Adjusted free cash flow expected ~$475M; capex ~$700-$725M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

O-I Glass, Inc. /DE/ reported second quarter ended June 30, 2023 results: revenue $1.9 billion, net income $0.69 per share (diluted), EPS $0.69 per share (diluted).

Period: second quarter ended June 30, 2023
Revenue: $1.9 billion
Net income: $0.69 per share (diluted)
EPS: $0.69 per share (diluted)
Result: reported results

Exact text from the filing

to expect 2023 adjusted earnings will significantly exceed the prior year given strong execution and operating performance,” said Andres Lopez, O-I Glass CEO. Net sales were $1.9 billion in the second quarter of 2023, up compared to $1.8 billion in the prior year period primarily due to higher average selling prices as well as favorable foreign currency

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Source: SEC EDGAR

accession 0001104659-23-086378

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