O-I Glass reports Q3 loss of $0.52/share; cuts FY24 adjusted EPS guidance to $0.70-$0.80

O-I Glass, Inc. /DE/

2024-Q3 EPS reported $0.31 revenue$5,002,000,000

Q3 net loss $0.52/share vs $0.32 profit YoY; adjusted loss $0.04 vs $0.80 adjusted EPS.
Net sales $1.7bn (-$64M YoY) as 2% volume gain offset by 4% price decline and FX.
Segment operating profit $144M, down 52% from $301M; Americas $88M, Europe $56M.
Full-year adjusted EPS guidance slashed to $0.70-$0.80 from $1.00-$1.25; FCF now use of $130-$170M.
Announces Fit to Win program targeting $300M annual savings by 2027 with capacity closures.

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