O-I Glass reports adjusted EPS $3.09 for FY2023, beats guidance; FY2024 outlook $2.25-$2.65

O-I Glass, Inc. /DE/

2023-FY EPS reported -$0.67 revenue$7,105,000,000

Full-year reported loss per share ($0.67) includes $445M goodwill impairment; adjusted EPS $3.09 (guidance ~$3.00, prior year $2.30).
Revenue $7.1B, up 4% YoY; sales volume down 12% on destocking; segment operating profit $1,193M vs $960M.
Q4 adjusted EPS $0.12 (guidance ~$0.03); segment operating profit $168M, down from $206M on Europe weakness.
FY2024 guidance: adjusted EPS $2.25-$2.65, free cash flow $150-$200M; first MAGMA greenfield on track for mid-2024.
Net debt $4.0B at year-end; capex $688M in 2023; expects low-to-mid single digit volume growth in 2024.

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 year ended December 31, 2023 results: revenue $7.1 billion, net income ($0.67) per share (diluted), EPS ($0.67) per share (diluted).

Period: year ended December 31, 2023
Revenue: $7.1 billion
Net income: ($0.67) per share (diluted)
EPS: ($0.67) per share (diluted)
Result: reported results

Exact text from the filing

are behind us and we anticipate stronger future earnings as both sales and production volumes recover to pre-pandemic levels over time,” concluded Lopez. Net sales were $7.1 billion in 2023, up approximately 4 percent compared to $6.9 billion in the prior year primarily due to higher average selling prices as well as favorable foreign currency translation.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

O-I Glass, Inc. /DE/ reported fourth quarter ended December 31, 2023 results: revenue $1.6 billion, net income $439 million loss before income taxes, EPS ($3.05) per share (diluted).

Period: fourth quarter ended December 31, 2023
Revenue: $1.6 billion
Net income: $439 million loss before income taxes
EPS: ($3.05) per share (diluted)
Result: reported results

Exact text from the filing

($439) $29 Adjusted Earnings Earnings Per Share (Diluted) Segment Operating Profit $M 4Q23 4Q22 4Q23 4Q22 Non - GAAP $0.12 (Guidance: ~ $0.03) $0.38 $168 $206 Net sales were $1.6 billion in the fourth quarter of 2023 compared to $1.7 billion in the prior year period as the benefit from higher average selling prices and favorable foreign currency translation

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Source: SEC EDGAR

accession 0001104659-24-011123

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