Welcome to our dedicated page for O-I Glass news (Ticker: OI), a resource for investors and traders seeking the latest updates and insights on O-I Glass stock.
O-I Glass, Inc. (NYSE: OI) is recognized as the world's largest glass container manufacturer and is a preferred partner for many leading food and beverage brands. Headquartered in Perrysburg, Ohio, O-I delivers safe, sustainable, and iconic glass packaging solutions across the globe. With revenues of $7.1 billion in 2023, O-I employs approximately 23,000 people across 68 plants in 19 countries.
O-I’s core business revolves around producing high-quality glass bottles and jars for various markets, including beer, wine, soda, spirits, condiments, and food. The company boasts significant market presence in Europe, North America, and Brazil, with 70% of its revenue generated from outside the United States.
Among O-I's notable projects, the company was recently selected by the U.S. Department of Energy to begin award negotiations for up to $125 million in funding under the Industrial Demonstrations Program. This initiative is part of a broader effort to demonstrate commercial-scale decarbonization solutions to move energy-intensive industries toward net-zero emissions.
O-I Glass continuously invests in sustainability and innovation, exemplified by the recent introduction of returnable, reusable glass wine bottles in partnership with Revino. This initiative aims to enhance the sustainability of wine packaging by locally producing over 2.4 million reusable bottles for a return system, starting in Oregon.
Financially, O-I is robust, recently completing a $300 million private offering of senior notes due 2032. The proceeds will be utilized to redeem existing senior notes, thereby optimizing the company's debt structure.
Additionally, O-I’s commitment to sustainability is evident in its significant investments in plant upgrades. A notable example is the $120 million transformation of its Zipaquira, Colombia plant, which includes the installation of advanced furnace technology aimed at increasing flexibility, productivity, and reducing CO2 emissions.
O-I Glass’s dedication to innovation is further highlighted by their Modular Advanced Glass Manufacturing Asset (MAGMA) program, which aims to revolutionize glass melting technology. The company is also actively engaged in improving its environmental footprint, targeting a 25% reduction in greenhouse gas emissions by 2030.
Overall, O-I Glass, Inc. remains a stalwart in the glass manufacturing industry, continually pushing the boundaries of sustainability and innovation while maintaining strong financial health and strategic market presence.
O-I Glass has announced plans to strengthen its operations in Germany by upgrading its Holzminden plant with state-of-the-art furnace technology. The modernization includes converting an existing furnace to a Gas-Oxy system and implementing on-site oxygen production. This technological upgrade is expected to reduce fuel consumption by up to 30 percent and decrease CO2 emissions by approximately 4,000 tons annually compared to current technology.
The initiative is part of O-I's broader strategy to become the most competitive glass maker in the industry while advancing its decarbonization goals. The company aims to make the Holzminden facility more lean, agile, and efficient, creating new value for its customers while supporting their decarbonization efforts.
O-I Glass (NYSE: OI) reported challenging full-year 2024 results with net sales declining 8% to $6.5 billion. The company posted a net loss of $0.69 per share, with adjusted earnings of $0.81 per share. Performance was impacted by lower average selling prices, reduced sales volumes, and higher operating costs due to inventory management.
Key financial metrics showed deterioration: earnings before income taxes fell to $38M from $67M, segment operating profit decreased to $748M from $1,193M, and free cash flow was negative $128M compared to positive $130M in 2023. Both Americas and Europe segments experienced profit declines due to lower pricing and sales volumes.
Looking ahead to 2025, O-I expects improved performance with adjusted EPS guidance of $1.20-$1.50, representing a 50-85% increase from 2024. The company anticipates free cash flow of $150-$200M, driven by cost savings from their Fit To Win initiative targeting $175-$200M in benefits.
O-I Glass (NYSE: OI) has announced its upcoming full year and fourth quarter 2024 earnings conference call and webcast, scheduled for Wednesday, February 5, 2025, at 8 a.m. EST. The company will release its earnings report after market close on Tuesday, February 4.
Earnings presentation materials will be available on the company's investor relations website. The webcast will be accessible through the company's website and will remain archived until February 2026.
O-I Glass has announced its participation in Citi's 2024 Basic Materials Conference on Wednesday, December 4, 2024. CEO Gordon Hardie and CFO John Haudrich will deliver a presentation at 8:45 a.m. ET. The presentation will be available via live webcast, with replay access provided within 24 hours and archived for 90 days. Presentation slides will be accessible on the company's investor relations website before the event.
O-I Glass reported a challenging third quarter 2024, with net sales declining to $1.7 billion, down $64 million from the prior year. The company reported a loss of $0.52 per share, compared to earnings of $0.32 per share in Q3 2023. Segment operating profit decreased to $144 million from $301 million year-over-year. Despite a 2% increase in sales volume, results were impacted by a 4% decrease in average selling prices and production curtailments to reduce inventory levels. The company revised its 2024 guidance, now expecting adjusted earnings per share between $0.70-$0.80, down from $1.00-$1.25, and forecasts a free cash flow use of $130-$170 million.
O-I Glass, Inc. (NYSE: OI) has announced its upcoming third quarter 2024 earnings conference call and webcast, scheduled for Wednesday, October 30, 2024, at 8 a.m. EDT. The company will release its third quarter 2024 earnings report after the market closes on Tuesday, October 29. Investors and interested parties can access the webcast at https://events.q4inc.com/attendee/641373143 or through the company's website at www.o-i.com/investors.
Earnings presentation materials will be available on the O-I website when the earnings news release is issued. The webcast will be archived on the company's website until October 2025, providing extended access to the information for stakeholders.
O-I Glass (NYSE: OI) has announced its participation in the UBS Global Materials Conference on September 4, 2024. CEO Gordon Hardie and CFO John Haudrich will present at 3:30 p.m. ET. A live webcast of the presentation will be available, with a replay accessible for 90 days following the conference. The company will also post presentation slides on its investor relations website prior to the event.
This announcement highlights O-I Glass's commitment to investor relations and transparency. Participation in such conferences allows the company to showcase its strategies, financial performance, and future outlook to a broader audience of investors and analysts, potentially impacting stock performance and market perception.
O-I Glass (NYSE: OI) reported its Q2 2024 financial results, showing a decline in performance compared to the previous year. Net sales decreased to $1.7 billion from $1.9 billion in Q2 2023, with a 4.5% decline in sales volume. Earnings before income taxes fell to $104 million from $154 million, while adjusted earnings per share dropped to $0.44 from $0.88.
The company has revised its full-year 2024 guidance, now expecting flat to slightly lower sales volume and adjusted EPS of $1.00 - $1.25. Free cash flow outlook has been reduced to $50 - $100 million. O-I's new CEO, Gordon Hardie, announced a new competitiveness program called 'Fit To Win' aimed at boosting performance over the next three years.
O-I Glass (NYSE: OI) has announced its second quarter 2024 earnings conference call and webcast, scheduled for Wednesday, July 31, 2024, at 8 a.m. EDT. The company plans to release its earnings report after the market closes on Tuesday, July 30, 2024.
The earnings presentation materials will be available on O-I's website, www.o-i.com/investors, concurrent with the earnings news release. The webcast can be accessed through the provided link or the Events and Presentations page on the company's website, and it will remain archived until July 2025.
O-I Glass plans to invest $150 million over the next two years to transform its Alloa, UK manufacturing plant, aiming to reduce CO2 emissions significantly. The transformation includes rebuilding an existing furnace and constructing a new one with advanced technology and sustainability measures, such as gas-oxy combustion and increased renewable energy use. These efforts align with O-I's sustainability roadmap and capital spending plan. The new furnaces, expected to be operational in 2025, will support the company's goal of reducing CO2 emissions by 25% by 2030. Additionally, O-I is partnering with a supplier to establish an oxygen farm adjacent to the Alloa plant, which will benefit local hospitals and manufacturing companies. This initiative builds on the Alloa plant's long heritage, positioning it as a state-of-the-art facility.
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