O-I Glass (OI) Beats Q1 Earnings Estimates, Lowers '24 Outlook [Yahoo! Finance]
O-I Glass, Inc. (OI)
Last o-i glass, inc. earnings: 4/28 04:20 pm
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US:NYSE Investor Relations:
investors.o-i.com/phoenix.zhtml?c=88324&p=irol-calendar
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Source: Yahoo! Finance
On a year-over-year basis, earnings plunged 65%, reflecting lower volumes due to weak consumer demand and inventory destocking across the value chain. Operational Update Revenues were $1.59 billion for the quarter under review, down 13% from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $1.71 billion. The downside was driven by lower segmental operating profit and higher interest expenses. Cost of sales was down 5.3% year over year to $1.28 billion. Gross profit decreased 34.3% year over year to $318 million. The gross margin was 20% for the quarter under review compared with 26.4% in the prior-year quarter. Selling and administrative expenses were down 16.3% year over year to $123 million. Adjusted segment operating profit amounted to $235 million for the reported quarter, down from the prior-year period's $398 million. The segmental operating margin was 14.8% compared with the prior-year quarter's 21.7%. O-I Glass, Inc. Price, Consensus and EPS
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News
- O-I Glass Completes Full Allocation for Second Round of Green Bond Offerings [Yahoo! Finance]Yahoo! Finance
- O-I Glass Completes Full Allocation for Second Round of Green Bond OfferingsGlobeNewswire
- O-I Glass, Inc. (NYSE: OI) had its price target lowered by analysts at Barclays PLC from $18.00 to $15.00. They now have an "equal weight" rating on the stock.MarketBeat
- O-I Glass, Inc. (NYSE: OI) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- O-I Glass, Inc. (NYSE:OI) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
OI
Earnings
- 4/30/24 - Beat
OI
Sec Filings
- 5/1/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/5/24 - Form ARS
- OI's page on the SEC website