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) reported its Q1 2021 results, showing a loss of $0.62 per share, down from earnings of $0.32 per share in Q1 2020. Despite severe weather impacts, sales volume remained stable year-over-year, aided by margin enhancement initiatives. Adjusted earnings were $0.35 per share, down from $0.41 per share in the prior year. The company announced plans for a $75 million investment to expand its facility in the Andean market. Debt was reduced to $5.3 billion, and committed liquidity was approximately $2.1 billion. O-I forecasts Q2 2021 adjusted earnings of $0.45 to $0.50 per share.
O-I Glass, Inc. announced an agreement in principle for a consensual plan of reorganization for its subsidiary, Paddock Enterprises, LLC, under section 524(g) of the Bankruptcy Code. This agreement, reached with the Official Committee of Asbestos Personal Injury Claimants and the representative for future asbestos claimants, supports the resolution of Paddock's legacy asbestos liabilities. The total funding consideration for the section 524(g) trust is set at $610 million, pending court approval and other conditions. O-I Glass remains committed to ensuring fairness for claimants while seeking to achieve financial certainty.
O-I Glass, Inc. (NYSE: OI) has announced its first quarter 2021 earnings conference call scheduled for April 29, 2021, at 8 a.m. EDT. The earnings release will be made public after the market closes on April 28. Participants can join the conference call by dialing in by 7:50 a.m. EDT on April 29. O-I Glass is known for its glass production and reported revenues of $6.1 billion in 2020. More details and webcast links are available on their investor website.
O-I Glass, Inc. (NYSE: OI) announced a $75 million investment to expand its Zipaquirá, Colombia facility in response to rising demand for sustainable glass packaging. The expansion aims to increase capacity by nearly 2%, producing approximately 500 million bottles annually by the end of 2022. CEO Andres Lopez emphasized the facility's role in supporting market growth, while the company pursues a divestiture strategy to reduce debt, targeting $1.15 billion by the end of 2022. This strategic move is designed to enhance shareholder value and improve financial stability.
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.
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