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, Inc. has fully allocated the net proceeds of EUR 500 million from its Green Bond, issued by its subsidiary OI European Group B.V. This funding focuses on enhancing sustainability through cullet procurement, investments in low-emission technologies, and projects aimed at reducing greenhouse gas emissions. Key achievements include saving 3.2 million metric tons of CO2 and conserving significant amounts of energy and natural resources. The firm aims to lead in sustainable packaging while enhancing environmental responsibility.
O-I Glass, Inc. has announced a private offering of $400 million in senior notes due 2030 by its wholly owned subsidiary, OI European Group B.V. The offering aims to redeem existing senior notes due 2023 and repay part of the term loan A facility. The offer is targeted at eligible institutional buyers under U.S. securities regulations. The notes will not be registered under the Securities Act and are subject to specific exemptions for sale. This move is intended to optimize the company's capital structure and support its financial stability.
O-I Glass, Inc. (NYSE: OI) reported robust third-quarter results, exceeding earnings expectations with $0.58 adjusted earnings per share, higher than the company’s guidance of $0.47-$0.52. Despite slightly lower shipments due to supply chain disruptions, segment operating profit rose to $243 million from $204 million year-over-year. The company announced a planned sale of its Le Parfait brand to a subsidiary of Berlin Packaging for approximately €72 million, which will enhance financial flexibility. The full-year outlook has been raised to $1.77-$1.82 per share.
O-I Glass, Inc. (NYSE: OI) has announced its third quarter 2021 conference call set for October 26, 2021, at 8 a.m. EDT. Earnings results will be disclosed following market close on October 25. Interested participants can join via conference call by dialing 1-888-733-1701 (U.S.) or +1 706-634-4943 (International). The event will also be accessible through the company’s webcast, which will be archived until October 2022.
O-I Glass is pursuing a comprehensive transformation strategy to enhance stakeholder value by capitalizing on market trends.
CEO Andres Lopez highlighted the significance of glass containers in sustainability and health, emphasizing the introduction of the MAGMA solution. This innovation aims to streamline glass production and expand capacity with lower capital investments.
The company plans to generate $50 million annually through margin expansion, invest up to $680 million for growth, and resolve legacy liabilities worth $610 million. Adjusted earnings are projected between $2.20 and $2.40 per share by 2024.
O-I Glass, Inc. (NYSE: OI) is set to host its 2021 Virtual Investor Day on September 28, 2021, from 8:30 a.m. ET to 12:00 p.m. ET. The event will feature discussions on the company's ongoing transformation, MAGMA, and future targets. Interested participants can register for the live event or access the replay via the company’s registration link. An archived version of the webcast will be available for one year on the company’s website.
O-I Glass, Inc. (NYSE: OI) reported strong second quarter 2021 financial results, exceeding expectations driven by robust demand and shipment levels rebounding to pre-pandemic highs. The company registered earnings of $0.73 per share, a significant recovery from a loss in the prior year, with sales volume up 18% year-over-year. Segment operating profit rose to $232 million. Cash provided by operations was $199 million, enabling a decrease in net debt to $4.5 billion. Looking ahead, O-I anticipates adjusted earnings of $1.65 to $1.75 per share for 2021.
O-I Glass, Inc. (NYSE: OI) has scheduled its second-quarter 2021 earnings conference call for August 4, 2021, at 8 a.m. EDT. The earnings release will be issued after market close on August 3, 2021. Investors can access the call via the company’s website, with materials posted at www.o-i.com/investors. O-I is a leading global producer of glass containers, boasting revenues of $6.1 billion in 2020, supported by a diverse workforce across 72 plants in 20 countries.
O-I Glass, Inc. (NYSE: OI) will participate in the Deutsche Bank 12th Annual Global Basic Materials Conference on June 10, 2021. CEO Andres Lopez and CFO John Haudrich are scheduled to present at 11:15 a.m. ET. Interested participants can register through the provided link. A replay of the presentation will be accessible within 24 hours and archived for 90 days. Additionally, presentation slides will be available on the company's investor relations website after market close on June 9.
O-I Glass, Inc. (NYSE: OI) appointed John H. Walker as Independent Chair of the Board, succeeding Carol A. Williams, who remains on the Board. The transition aligns with long-term succession planning and follows Williams' efforts in restructuring the company’s legacy asbestos liabilities. CEO Andres A. Lopez praised Walker's extensive experience in business transformations, anticipating that his leadership will bolster innovations like the MAGMA program. With revenues of $6.1 billion in 2020, O-I Glass aims to reshape its business model under Walker's guidance.
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