O-I Glass Q2 EPS loss $6.33; cuts 2026 EBITDA guidance to $1.0-1.1B

O-I Glass, Inc. /DE/

Reported net loss of $6.33/diluted share vs. ($0.03) a year ago; includes $873M goodwill impairment in Europe.
Adjusted EPS fell to $0.09 from $0.53; Americas segment profit rose 22% to $165M, Europe profit collapsed to $6M.
2026 adjusted EBITDA guidance cut to $1.0-1.1B (prior $1.125-1.225B); free cash flow now expected negative $50-150M.
2027 adjusted EBITDA target lowered to $1.2-1.3B from $1.45B; net debt leverage ratio expected at or above 4x.
Fit to Win delivered $65M gross benefits in Q2; company cites temporary European headwinds and operational disruption.

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