secwatch.observer — SEC 8-K summary
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Issuer:     O-I Glass, Inc. /DE/ (OI)
CIK:        0000812074
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001104659-24-054980
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/812074/000110465924054980/0001104659-24-054980-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/812074/000110465924054980/tm2413125d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-054980

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