O-I Glass Q1 EPS falls 65% YoY; cuts full-year guidance on slower consumer recovery

O-I Glass, Inc. /DE/

2024-Q1 EPS reported $0.45 revenue$1,593,000,000

Q1 reported EPS $0.45 (vs $1.29 prior year); revenue $1.6B, down 11% YoY on 12.5% lower volume.
Segment operating profit fell to $235M from $398M; Americas OP $102M, Europe OP $133M, both down ~42%.
Full-year adjusted EPS guidance cut to $1.50-$2.00 (from $2.25-$2.65); FCF guidance reduced to $100-$150M.
Management expects volume growth flat to up low-single digits for FY24, slower than prior low-to-mid single-digit outlook.
First MAGMA greenfield plant start-up expected in summer 2024; margin expansion benefits at least $175M.

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 0.9

O-I Glass, Inc. /DE/ reported first quarter ended March 31, 2024 results: revenue $1.6 billion, net income $0.45 per share (diluted), EPS $0.45 per share (diluted). Guidance lowered.

Period: first quarter ended March 31, 2024
Revenue: $1.6 billion
Net income: $0.45 per share (diluted)
EPS: $0.45 per share (diluted)
Guidance: lowered
Result: reported results

Exact text from the filing

we expect this new innovative technology will create a significant competitive advantage for our company well into the future,” said Andres Lopez, O-I Glass CEO. Net sales were $1.6 billion in the first quarter of 2024 compared to $1.8 billion in the prior year reflecting slightly lower average selling prices and a 12.5 percent decline in sales volume (in tons).

View on SEC.gov

1447 earnings releases filed in the last 30 days. Browse all earnings releases →

O-I Glass, Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0001104659-24-054980

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.