O-I Glass (NYSE:OI) Stock

O-I Glass

O-I Glass is the world's largest manufacturer of glass bottles; 70% of its revenue comes from outside the United States. O-I has a leading position in key markets such as Europe, North America, and Brazil. Beer is the primary end market for O-I's glass bottles, which are also used for wine, soda, spirits, condiments, and food. O-I is looking to maintain or expand its dominant positions in Europe, North America, and South America.

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O-I Glass Posts Downbeat Results, Joins AMD, Qorvo And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session

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O-I Glass Plans Installation Of Furnace Technology In Holzminden, Germany That Is Expected To Enhance Energy Efficiency And Reduce Emissions

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O-I Glass shares are trading higher after the company reported Q4 financial results and beat its adjusted EPS estimate.

O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) announced its Q4 earnings on Tuesday, February 4, 2025 at 04:20 PM.
Here's a breakdown of the earnings report.
<h3>Earnings</h3>
O-I Glass beat estimated earnings by 38.0%, reporting an EPS of $-0.05 versus an estimate of $-0.08.
Revenue was down $112.00 million from the same period last year.
<h3>Performance in Previous Earnings</h3>
The company missed on EPS by $0.08 in the last quarter, resulting in a 7.000000000000001% drop share price change the following day.
Here's a look at O-I Glass's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.04</td>
<td>0.44</td>
<td>0.39</td>
<td>0.03</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.04</td>
<td>0.44</td>
<td>0.45</td>
<td>0.12</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>1.76B</td>
<td>1.79B</td>
<td>1.70B</td>
<td>1.63B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>1.68B</td>
<td>1.73B</td>
<td>1.59B</td>
<td>1.64B</td>
</tr>
</tbody>
</table>

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Guidance</h3>
O-I Glass management provided guidance for FY 2025, expecting earnings between $1.2 and $1.5 per share.
To track all earnings releases for O-I Glass <a href="https://www.benzinga.com/quote/OI/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Summary: O-I Glass Q4

O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) reported quarterly losses of $(0.05) per share which beat the analyst consensus estimate of $(0.07) by 28.57 percent. This is a 141.67 percent decrease over earnings of $0.12 per share from the same period last year. The company reported quarterly sales of $1.529 which missed the analyst consensus estimate of $1.595 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $1.641 billion the same period last year.

Earnings Beats

Earnings Misses

O-I Glass Q4 2024 Adj. EPS $(0.05) Beats $(0.07) Estimate, Sales $1.529 Miss $1.595B Estimate

<a href="https://www.sec.gov/Archives/edgar/data/1464790/000201238325000621/xslSCHEDULE_13G_X01/primary_doc.xml" title="https://www.sec.gov/Archives/edgar/data/1464790/000201238325000621/xslSCHEDULE_13G_X01/primary_doc.xml">https://www.sec.gov/Archives/edgar/data/1464790/000201238325000621/xslSCHEDULE_13G_X01/primary_doc.xml</a>

Guidance

O-I Glass Sees FY25 Adj. EPS $1.20-$1.50 Vs $1.47 Est.

O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) reported quarterly losses of $(0.05) per share which beat the analyst consensus estimate of $(0.07) by 28.57 percent. This is a 141.67 percent decrease over earnings of $0.12 per share from the same period last year.

O-I Glass Q4 2024 Adj. EPS $(0.05) Beats $(0.07) Estimate

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Earnings Scheduled For February 4, 2025

Citigroup analyst Anthony Pettinari maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Neutral and lowers the price target from $12 to $11.

Citigroup Maintains Neutral on O-I Glass, Lowers Price Target to $11

B of A Securities analyst George Staphos maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Buy and raises the price target from $14 to $15.

B of A Securities Maintains Buy on O-I Glass, Raises Price Target to $15

Wells Fargo analyst Gabe Hajde maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Overweight and lowers the price target from $18 to $16.

Wells Fargo Maintains Overweight on O-I Glass, Lowers Price Target to $16

These closures are part of the Company's Fit to Win initiative to reduce redundant capacity and begin to optimize its network. Additional furnace closures and other restructuring actions are expected in the fourth quarter of 2024 and 2025.
Current customers of the plants impacted by the furnace closure will be served by other European plants in the Company's network. Subject to finalization of certain estimates, the Company expects to record charges associated with these closures of approximately $72 million in the fourth quarter of 2024.&nbsp;&nbsp;
Major components of the charges include approximately $40 million for impairment of plant-related assets, such as the closed furnaces and related machinery, and $32 million for one-time employee separation benefits and other costs related to the closing (of which approximately $24 million relate to future cash expenditures). &nbsp;

O-I Glass Finalizes Its Plans For  Closure Of Two Furnaces In Its European Segment; Approximately 100 People To Be Impacted - Filing

RBC Capital analyst Arun Viswanathan maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Outperform and lowers the price target from $18 to $16.

RBC Capital Maintains Outperform on O-I Glass, Lowers Price Target to $16

Barclays analyst Michael Leithead maintains O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) with a Equal-Weight and lowers the price target from $14 to $13.

Barclays Maintains Equal-Weight on O-I Glass, Lowers Price Target to $13

U.S. stock futures were mixed this morning, with the Dow futures falling around 50 points on Wednesday.
Shares of O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected third-quarter financial results and issued FY24 adjusted EPS <a href="https://www.benzinga.com/quote/OI/analyst-ratings">guidance below estimates</a>.
O-I Glass reported quarterly losses of 4 cents per share which missed the analyst consensus estimate of 4 cents per share. The company reported quarterly sales of $1.700 which missed the analyst consensus estimate of $1.761 billion.
O-I Glass shares dipped 18.4% to $10.15 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
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<li>AnaptysBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANAB#NASDAQ">ANAB</a>) shares dipped 22.5% to $23.86 in pre-market trading.</li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) shares fell 18% to $82.40 in pre-market trading after the company reported issued weak guidance for the third quarter.</li>
<li>Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) dipped 15.7% to $311.00 in pre-market trading following weak quarterly earnings.</li>
<li>Criteo S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRTO#NASDAQ">CRTO</a>) shares fell 15.1% to $36.21 in pre-market trading following weak quarterly sales.</li>
<li>Thryv Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THRY#NASDAQ">THRY</a>) fell 13.7% to $15.80 in pre-market trading after the company priced its upsized $80 million public offering of 5,715,000 common shares at $14/share.</li>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) declined 10.7% to $806.57 in pre-market trading after the company reported worse-than-expected third-quarter earnings and sales.</li>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares fell 8.6% to $152.00 after the company reported third-quarter financial results.</li>
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O-I Glass Posts Downbeat Results, Joins AMD, Qorvo And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

O-I Glass shares are trading lower after the company reported worse-than-expected Q3 financial results and issued FY24 adjusted EPS guidance below estimates.

Shares of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) rose sharply in today's pre-market trading after the company reported better-than-expected<a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan"> third-quarter financial results</a>.
The company reported third-quarter revenue of $88.27 billion, up 15% year-over-year. The total beat a Street consensus estimate of $86.31 billion
Alphabet shares jumped 6% to $179.77 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Haoxi Health Technology Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAO#NASDAQ">HAO</a>) gained 82.8% to $0.3382 in pre-market trading. Haoxi Health Technology recently posted FY earnings of 4 cents per share.</li>
<li>Starbox Group Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STBX#NASDAQ">STBX</a>) rose 80.2% to $0.2433 in pre-market trading.</li>
<li>Digital Brands Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBGI#NASDAQ">DBGI</a>) shares surged 50.5% to $0.1540 in pre-market trading. Digital Brands Group shares fell around 34% on Tuesday after the company announced the pricing of $3 million public offering of 30 million common stock and pre-funded warrants at $0.10 per share.</li>
<li>Ensysce Biosciences, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENSC#NASDAQ">ENSC</a>) gained 30.8% to $0.5430 in pre-market trading after jumping around 25% on Tuesday.</li>
<li>NerdWallet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRDS#NASDAQ">NRDS</a>) shares rose 28.7% to $14.57 in pre-market trading after the company reported better-than-expected fourth-quarter revenue results.</li>
<li>LogicMark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGMK#NASDAQ">LGMK</a>) climbed 26.4% to $0.1464 in pre-market trading.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) gained 24% to $101.36 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued fourth-quarter revenue guidance above estimates.</li>
<li>Polyrizon Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLRZ#NASDAQ">PLRZ</a>) shares gained 20.7% to $1.87 in pre-market trading after dipping 65% on Tuesday. The company priced its IPO at $4.38 per unit.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares rose 11.2% to $12.11 in pre-market trading following better-than-expected third-quarter financial results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) shares dipped 18.4% to $10.15 in pre-market trading after the company reported worse-than-expected third-quarter financial results and issued FY24 adjusted EPS guidance below estimates.</li>
<li>Spero Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRO#NASDAQ">SPRO</a>) shares fell 18.3% to $1.07 in pre-market trading after the company announced its Phase 2a proof-of-concept study of SPR720 did not meet its primary endpoint.</li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) shares fell 18% to $82.40 in pre-market trading after the company reported issued weak guidance for the third quarter.</li>
<li>GlycoMimetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLYC#NASDAQ">GLYC</a>) fell 14.5% to $0.4189 in today's pre-market trading. GlycoMimetics shares jumped 191% on Tuesday after the company announced it will merge with Crescent Biopharma and secured $200 in funding to advance its oncology pipeline.</li>
<li>Thryv Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THRY#NASDAQ">THRY</a>) fell 13.7% to $15.80 in pre-market trading after the company priced its upsized $80 million public offering of 5,715,000 common shares at $14/share.</li>
<li>Tempest Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPST#NASDAQ">TPST</a>) fell 12.3% to $0.9645 in pre-market trading. The company recently entered into an agreement with Roche Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>) to advance the evaluation of amezalpat (TPST-1120) in combination with atezolizumab (Tecentriq) and bevacizumab, the current standard of care for unresectable or metastatic hepatocellular carcinoma (HCC), into a Phase 3 trial for the first-line treatment of liver cancer.</li>
<li>Ambow Education Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#NYSE">AMBO</a>) shares declined 12.3% to $1.50 in pre-market trading.</li>
<li>Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPH#NASDAQ">SHPH</a>) declined 12.2% to $1.58 in pre-market trading as the company priced its $4.5 million public offering of 2,950,820 at-the-market under Nasdaq rules.</li>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares fell 8.6% to $152.00 after the company reported third-quarter financial results.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) fell 8.4% to $47.17 in pre-market trading after gaining around 9% on Tuesday.</li>
</ul>
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</ul>

O-I Glass Sees FY24 Adj. EPS $0.70-$0.80 Vs $1.13 Est.

O-I Glass (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) reported quarterly losses of $(0.04) per share which missed the analyst consensus estimate of $0.04 by 200 percent. The company reported quarterly sales of $1.700 which missed the analyst consensus estimate of $1.761 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $1.740 billion the same period last year.

O-I Glass Q3 2024 Adj. EPS $(0.04) Misses $0.04 Estimate, Sales $1.700 Miss $1.761B Estimate

This closure is part of the Company&rsquo;s Fit to Win initiative to reduce redundant capacity and begin to optimize its network. Additional furnace closures and other restructuring actions are expected later in 2024.
The furnace closure is expected to occur on or after November&nbsp;18, 2024. The Company intends to facilitate the closure in a respectful manner for the approximately 150 people impacted.&nbsp;&nbsp;
Subject to finalization of certain estimates, the Company expects to record a charge associated with this closure of approximately $39 million in the third quarter of 2024.&nbsp; Major components of the charge include approximately $24 million for impairment of plant-related assets, such as the closed furnace and related machinery, and $15 million for one-time employee separation benefits and other costs related to the closing (of which approximately $10 million relate to future cash expenditures).

On October 21, O-I Glass Finalizes Plans For Closure Of A Furnace In Its Americas Segment

Press Releases

O-I Glass Plans Technology & Sustainability Transformation of its Alloa, UK Plant

O-I Glass Announces Second Quarter 2024 Earnings Conference Call and Webcast

O-I GLASS REPORTS SECOND QUARTER 2024 RESULTS

O-I Glass to Present at UBS Global Materials Conference

O-I Glass Announces Third Quarter 2024 Earnings Conference Call and Webcast

O-I GLASS REPORTS THIRD QUARTER 2024 RESULTS

O-I Glass to Present at Citi's 2024 Basic Materials Conference

O-I GLASS ANNOUNCES FULL YEAR AND FOURTH QUARTER 2024 EARNINGS CONFERENCE CALL AND WEBCAST

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