OI Stock Recent News

O-I Glass (OI) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.88 per share a year ago.

Gradually Improving Demand Amid Soft Macro Conditions; New CEO Outlines Top Priorities Gradually Improving Demand Amid Soft Macro Conditions; New CEO Outlines Top Priorities

O-I is facing an excruciating period of destocking and soft consumer demand, with disappointing revenues. Decreasing shipments and volatile energy costs are increasing operating costs. However, management is focusing on portfolio optimization programs and margin expansion initiatives while waiting for markets to turn around.

O-I Glass (OI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The average of price targets set by Wall Street analysts indicates a potential upside of 52.2% in O-I Glass (OI). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

O-I Glass, Inc. has reported weak financials due to weak recent industry trends. The company anticipates a gradual recovery with stable y/y volumes in Q2, but I believe that investors should be cautious of the upcoming quarterly report. The extensive investments in the MAGMA program should aid earnings in coming years, potentially making the stock undervalued.

PERRYSBURG, Ohio, July 03, 2024 (GLOBE NEWSWIRE) -- O-I Glass, Inc. (NYSE: OI) has scheduled its second quarter 2024 conference call and webcast for Wednesday, July 31, 2024, at 8 a.m. EDT. The Company's news release for the second quarter 2024 earnings will be issued after the market closes on Tuesday, July 30.

Perrysburg, Ohio, July 02, 2024 (GLOBE NEWSWIRE) --  O-I Glass, Inc. (“O-I Glass” or “O-I”) plans a major transformation of its Alloa, UK manufacturing plant into an even more technologically advanced facility with an expected significant reduction in CO2 emissions.

Company 2024 Sustainability Report Update Showcases Significant Progress Toward Ambitious Sustainability Goals Company 2024 Sustainability Report Update Showcases Significant Progress Toward Ambitious Sustainability Goals