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Stock impact report

O-I Glass reports net sales decline in Q1 FY24 [Yahoo! Finance]

O-I Glass, Inc. (OI) 
Last o-i glass, inc. earnings: 4/28 04:20 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The company attributes this downturn to a slight reduction in average selling prices and a 12.5% fall in sales volume, measured in tonnes, although this was somewhat mitigated by favourable foreign currency translation. The company's earnings before income taxes stood at $117m for the quarter, a substantial decline from $270m in Q1 FY23. This reduction was influenced by a lower segment operating profit and an increase in interest expenses, which were partially balanced out by decreased retained corporate and other costs. Net earnings per diluted share attributable to O-I Glass in Q1 FY24 was $0.45, compared to $1.29 in the prior-year quarter. The company's segment operating profit also saw a decline, with $235m recorded in the first quarter against $398m in Q1 FY23. In the Americas, the segment operating profit was $102m, down from $176m in the previous year's period while in Europe, it was $133m, a decrease from $222m in the prior year. O-I Glass CEO Andres Lopez said: " Show less Read more
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