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O-I Glass, Inc. - OI STOCK NEWS

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.

Rhea-AI Summary
O-I Glass, Inc. reported financial results for Q3 2023, exceeding expectations. Net sales were $1.74 billion, up 3% YoY. Earnings before income taxes were $82 million, down from $278 million in the prior year. Segment operating profit was $301 million, up 13% YoY. Adjusted earnings per share were $0.80, surpassing guidance. The company expects 2023 adjusted earnings of approximately $3.00 per share, a 30% increase from 2022.
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Rhea-AI Summary
O-I Glass, Inc. (NYSE: OI) has scheduled its third quarter 2023 conference call and webcast for Wednesday, November 1, 2023, at 8 a.m. EDT. The Company’s news release for the third quarter 2023 earnings will be issued after the market closes on Tuesday, October 31.
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FAQ

What is the current stock price of O-I Glass (OI)?

The current stock price of O-I Glass (OI) is $12.97 as of November 15, 2024.

What is the market cap of O-I Glass (OI)?

The market cap of O-I Glass (OI) is approximately 2.0B.

What does O-I Glass, Inc. specialize in?

O-I Glass, Inc. specializes in manufacturing high-quality glass containers for the food and beverage industry, including bottles for beer, wine, spirits, soda, and food.

Where is O-I Glass, Inc. headquartered?

O-I Glass, Inc. is headquartered in Perrysburg, Ohio, USA.

How many employees does O-I Glass, Inc. have?

As of the latest data, O-I Glass, Inc. employs approximately 23,000 people.

What are some of O-I Glass, Inc.'s sustainability initiatives?

O-I Glass, Inc. focuses on sustainability through projects like the decarbonization initiative funded by the U.S. Department of Energy and the production of reusable glass wine bottles in partnership with Revino.

How does O-I Glass, Inc. contribute to reducing environmental impact?

O-I Glass, Inc. invests in advanced technologies such as oxy/fuel combustion and waste heat recovery systems to reduce CO2 and NOX emissions, aligned with their goal of reducing greenhouse gas emissions by 25% by 2030.

What are some recent financial moves by O-I Glass, Inc.?

Recently, O-I Glass, Inc. completed a $300 million private offering of senior notes due 2032 to optimize its debt structure and redeem existing senior notes.

What markets are most significant for O-I Glass, Inc.?

O-I Glass, Inc. holds a leading position in key markets such as Europe, North America, and Brazil.

What are O-I Glass, Inc.'s primary products?

O-I Glass, Inc.'s primary products include glass bottles and jars for beer, wine, spirits, soda, condiments, and food.

What is the MAGMA program?

The MAGMA program is O-I Glass, Inc.'s initiative to revolutionize glass melting technology, enhancing production efficiency and sustainability.

How does O-I Glass, Inc. support community development?

O-I Glass, Inc. supports community development through investments in local manufacturing sites, creating jobs, and improving plant sustainability and productivity.

O-I Glass, Inc.

NYSE:OI

OI Rankings

OI Stock Data

2.04B
154.65M
1.75%
99.01%
3.46%
Packaging & Containers
Glass Containers
Link
United States of America
PERRYSBURG