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. (NYSE: OI) will participate in the BofA Securities 2021 Global Agriculture and Materials Conference on March 3, 2021. The presentation will take place at 11:00 a.m. ET, featuring CEO Andres Lopez and CFO John Haudrich. A live webcast can be accessed here. A replay will be available within 24 hours and archived for 90 days. O-I Glass specializes in producing glass bottles and jars, achieving revenues of $6.1 billion in 2020.
O-I Glass (NYSE: OI) provided a business update ahead of the R.W. Baird 2021 Sustainability Conference. Severe weather in the southern U.S. led to the temporary idling of eight facilities across Texas, Oklahoma, and Mexico due to curtailed access to natural gas and electricity. Consequently, the company anticipates lower shipment and production levels, alongside increased energy and transportation costs in Q1 2021. Despite this, global shipments have remained consistent year-over-year, and operating conditions remain favorable. The company expects adjusted earnings to fall below prior guidance of $0.32 to $0.37 per share.
O-I Glass (NYSE: OI) reported its 2020 financial results, highlighting significant impacts from the global pandemic. Despite challenges, the company experienced improved performance in the fourth quarter, with earnings exceeding guidance. Full-year earnings from continuing operations were $1.57 per share, a turnaround from a loss in 2019. Cash flows amounted to $457 million, up from $408 million. For 2021, O-I anticipates adjusted earnings of $1.55 to $1.75 per share and $615 million in operating cash flow, alongside a $150 million share repurchase program to enhance shareholder value.
O-I Glass, Inc. (NYSE: OI) has scheduled its full year and fourth quarter 2020 earnings conference call on February 10, 2021, at 8 a.m. EST. Earnings will be announced after market close on February 9, followed by a webcast available on the company's investor relations site. O-I Glass is a global leader in glass production, achieving revenues of $6.7 billion in 2019, with operations across 72 plants in 20 countries. Interested investors can participate in the call by dialing provided phone numbers before the event.
O-I Glass, Inc. (NYSE: OI) will participate in the Citi 2020 Basic Materials Virtual Conference on December 1, 2020, with a presentation by CEO Andres Lopez and CFO John Haudrich at 10:00 a.m. ET. A live webcast will be accessible via this link. The replay will be available within 36 hours and archived for one year. Presentation slides will be posted on the Company's website after the market closes on November 30, 2020.
O-I Glass has allocated EUR 255.6 million of its EUR 500 million Green Bond proceeds to fund sustainable projects, including investments in recycling glass (cullet). This initiative aims to reduce energy consumption and carbon emissions while promoting a circular economy. The company appointed its first Chief Sustainability Officer and is focused on improving the U.S. glass recycling system. O-I's sustainability goals align with the United Nations Sustainable Development Goals, aiming to cut emissions and conserve resources through innovative practices in glass production.
O-I Glass Reports Strong Q3 2020 Recovery
O-I Glass, Inc. reported a significant rebound in earnings for Q3 2020, achieving $2.06 per share from continuing operations compared to a loss of $3.69 per share in Q3 2019. This turnaround, driven by strong sales volumes and improved operational performance, was aided by a $280 million net gain from the divestiture of its Australia and New Zealand operations. Despite a 9.7% decline in production volume, the company generated $205 million in free cash flow and reduced total debt to $5.4 billion.
O-I Glass, Inc. (NYSE: O-I) has entered a strategic collaboration with Krones AG to enhance the glass packaging market. This partnership aims to innovate solutions focusing on glass filling efficiency, market responsiveness, and sustainable practices. CEO Andres Lopez emphasized that glass is a preferred packaging choice, ensuring product integrity and environmental benefits. The collaboration will leverage O-I's glass expertise and Krones' machinery developments to create integrated solutions for clients. With over 27,500 employees and revenues of $6.7 billion in 2019, O-I is committed to sustainable packaging solutions.
O-I Glass, Inc. (NYSE: OI) has scheduled its third-quarter 2020 conference call for Oct. 28, 2020, at 8 a.m. EDT. Earnings results will be released after market close on Oct. 27. Interested participants can access the conference call by dialing 1-888-733-1701 (U.S.) or 706-634-4943 (International) by 7:50 a.m. EDT. The event will include a webcast available on the O-I website. O-I Glass achieved revenues of $6.7 billion in 2019, making it a leader in the glass packaging industry with over 72 plants globally.
O-I Glass, Inc. (NYSE: OI) will participate in the Credit Suisse 33rd Annual Virtual Basic Materials Conference on September 16, 2020. CEO Andres Lopez and CFO John Haudrich are scheduled to present at 10:15 a.m. ET. A live webcast of their presentation will be available and can be accessed through the provided link. The replay will be accessible within 36 hours and archived for one year. Presentation slides will be uploaded on the company’s website after market close on September 15. O-I Glass, a leader in glass production, reported revenues of $6.7 billion in 2019.
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