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 begun construction on a new greenfield glass facility in Bowling Green, KY, designed around its innovative MAGMA technology. This facility, set to open in mid-2024, represents a $240 million investment and aims to enhance the company’s glass container production capabilities. The site will introduce state-of-the-art equipment, including a modular batch system and MAGMA melter, focusing on sustainability and premium quality. The new facility is expected to create up to 140 jobs and will improve logistics while providing better service to customers. Governor Andy Beshear praised the project for its role in boosting local employment and manufacturing efficiency.
O-I Glass, Inc. (NYSE: OI) has scheduled its first quarter 2023 conference call and webcast for April 26, 2023, at 8 a.m. EDT. The earnings news release will be issued after market close on April 25. O-I Glass, based in Perrysburg, Ohio, is a leading global producer of glass bottles and jars, achieving revenues of $6.9 billion in 2022. The company's commitment to sustainability emphasizes glass as a recyclable packaging material. Investors can access earnings presentation materials on the O-I website post-announcement, and the webcast will be archived until April 2024.
Andrea Caceres, plant manager at O-I’s Lurin facility in Peru, has been recognized as a 2023 Women MAKE Honoree by the Manufacturing Institute. This award celebrates women in manufacturing who demonstrate exceptional leadership. Caceres is the first female plant manager in the Latin American region, leading efforts in safety, sustainability, and employee engagement. She has driven significant improvements in plant operations and has been actively involved in community education initiatives, including supporting local students during the pandemic. O-I Glass reported net sales of $6.9 billion in 2022, highlighting its position as a leading glass packaging producer.
O-I Glass, Inc. (NYSE: OI) will participate in the BofA Securities 2023 Global Agriculture and Materials Conference on March 2, 2023. Chief Financial Officer John Haudrich is scheduled to present at 10:10 a.m. ET.
A live webcast will be available at the BofA site, and a replay will be accessible within 24 hours for 90 days post-conference. Presentation slides will be posted on O-I's investor website before the event.
O-I Glass, based in Perrysburg, Ohio, reported net sales of $6.9 billion in 2022 and is a leading producer of glass packaging.
O-I Glass has taken significant steps towards sustainability, achieving notable accolades from various organizations. The company received a Gold rating from EcoVadis, placing it in the top 5% of assessed firms based on sustainability criteria. Sustainalytics recognized O-I as an ESG Regional Top-Rated performer for the second consecutive year, highlighting its effective management of ESG risks. Additionally, O-I was featured in Newsweek's list of America's Most Responsible Companies for 2023. CEO Andres Lopez emphasized the importance of these recognitions in reflecting O-I's commitment to sustainable practices and innovation in glass packaging.
O-I Glass reported strong financial results for 2022, exceeding guidance with earnings from continuing operations rising to $805 million and diluted EPS of $3.67. Adjusted earnings reached $2.30, surpassing expectations. Net sales increased to $6.9 billion, bolstered by higher average selling prices and a slight rise in sales volumes. Segment operating profits were $960 million, with the Americas and Europe showing positive trends despite challenges. The company also improved its capital structure and reduced net debt. For 2023, O-I anticipates continued performance improvement with projected adjusted EPS above $2.50.
O-I Glass, Inc. (OI) recently showcased its groundbreaking MAGMA technology, a modular glass production system aimed at modernizing glass manufacturing. A video released on January 26, 2023, provides insights into the operational capabilities of MAGMA and its first dedicated factory in Bowling Green, KY, expected to start in mid-2024. This innovative technology emphasizes sustainability by utilizing renewable energy and increasing recycled content while enhancing supply chain efficiency. O-I aims to set new standards in glass production, significantly reducing greenhouse gas emissions and operational costs.
O-I Glass, Inc. (NYSE: OI) has announced its full year and fourth quarter 2022 earnings conference call scheduled for February 1, 2023, at 8 a.m. EST. The earnings report will be released after market close on January 31. Interested shareholders and analysts can access the call via the company's investor relations page. O-I Glass, a leading producer of glass packaging, highlighted its commitment to sustainability and innovation in packaging.
O-I Glass, Inc. (NYSE: OI) will participate in Citi’s 2022 Basic Materials Conference on November 30, 2022. CEO Andres Lopez and CFO John Haudrich will present at 10:15 a.m. ET. A live webcast of the presentation can be accessed via this link. The replay will be available within 24 hours and archived for 90 days. Presentation slides will be posted on the company's investor website prior to the event. O-I Glass produces glass packaging and reported net sales of $6.4 billion in 2021.
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