O-I Glass (OI) 2025 Conference June 11, 2025 02:30 PM ET Speaker0 Thank Speaker1 you all for being here. I'm Gabe Haiti, Wells Fargo's Senior Containers and Packaging Analyst, joined by my colleague Richard Carlson here. I'd like to welcome O. I. Glass. And representing the company is John Hodrick, the SVP and CFO and Chris Manuel, Vice President of Investor Relations. I would like to remind everybody that it is kind of intended to be a fireside chat. If there's any questions, don't hesitate. And with that ...

PERRYSBURG, Ohio, June 04, 2025 (GLOBE NEWSWIRE) -- O-I Glass, Inc. (“O-I Glass” or “O-I”) today announced the Company will participate in Wells Fargo’s 2025 Industrials and Materials Conference on Wednesday, June 11, 2025. O-I Glass Chief Financial Officer John Haudrich will present at 1:30 p.m. CT (2:30 p.m. ET). A live webcast of the presentation will be available at O-I Glass, Inc. - 1722509. The replay will be available through the above link within 24 hours of the presentation and will be archived for ...

A month has gone by since the last earnings report for O-I Glass (OI) . Shares have added about 3.2% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is O-I Glass due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.How Have Estimates Been Moving Since Then?It turns out, ...

O-I Glass, Inc. (OI) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, OI's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross."There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, ...

Group 1 - O-I Glass, Inc. announced the retirement of Alan J. Murray from its Board of Directors after many years of service [1][2] - At the Annual Meeting, 11 director nominees were elected for one-year terms, including new members Eugenio Garza y Garza and Iain J. Mackay [1] - The company expressed gratitude for Mr. Murray's service and welcomed the new board members, highlighting their extensive global business and financial reporting expertise [2] Group 2 - O-I Glass is a leading producer of glass bottles and jars, emphasizing the sustainability and recyclability of glass as a packaging material [3] - The company achieved net sales of $6.5 billion in 2024 and operates approximately 69 plants in 19 countries with a diverse team of around 21,000 employees [3]

O-I Glass (OI) FY 2025 Annual General Meeting May 14, 2025 09:00 AM ET Speaker0 Good morning and welcome to OIs Annual Share Owners Meeting. This is John Humphrey, OIs Independent Board Chair. I'll be leading today's meeting. We're holding our annual shareowners meeting virtually again this year. With me on the line is Darryl Abrams, General Counsel and Corporate Secretary. We are also joined today by our Board of Directors as well as other members of the company's management. Additionally, Kristi Khan Youn ...

Financial Performance - Net sales for the first quarter of 2025 were $1,567 million, a decrease of $26 million, or 2%, compared to $1,593 million in the first quarter of 2024[82]. - Segment operating profit for reportable segments in the first quarter of 2025 was $209 million, down $26 million, or 11%, from $235 million in the first quarter of 2024[94]. - The company recorded a net loss attributable to the Company of $16 million, or $0.10 per share, in the first quarter of 2025, compared to net earnings of $72 million, or $0.45 per share, in the first quarter of 2024[87]. - Earnings before income taxes were $18 million in the first quarter of 2025, a decrease of $99 million from $117 million in the first quarter of 2024[92]. - The effective tax rate for the first quarter of 2025 was 167%, compared to 35% for the first quarter of 2024, due to unfavorable tax rates on restructuring charges[102]. Sales and Segments - The Americas segment reported net sales of $873 million in the first quarter of 2025, an increase of $19 million, or 2%, compared to $854 million in the first quarter of 2024[89]. - Europe segment net sales decreased to $667 million in the first quarter of 2025, a decline of $42 million, or 6%, from $709 million in the first quarter of 2024[91]. - Glass container shipments increased approximately 4.4% in the first quarter of 2025, contributing an estimated $66 million to net sales[88]. Cash Flow and Capital Expenditures - Cash provided by operating activities is expected to approximate $600 million for 2025, with capital expenditures projected between $400 million and $450 million[106]. - Cash utilized by operating activities was $171 million for the three months ended March 31, 2025, a decrease from $270 million in the same period in 2024[125]. - Capital spending for property, plant, and equipment was $135 million during the first three months of 2025, down from $213 million in the same period in 2024[128]. - The Company had unused credit of $1.06 billion available under the revolving credit facilities as part of the Credit Agreement as of March 31, 2025[115]. - The Company anticipates cash flows from operations and available credit will be sufficient to fund its operating and seasonal working capital needs[130]. Restructuring and Charges - The Company recorded restructuring, asset impairment, and other charges of approximately $82 million for the three months ended March 31, 2025, related to the Fit to Win program[109]. - The Company recorded a pre-tax gain of approximately $6 million on the sale of land and buildings of a previously closed plant in the Americas for the three months ended March 31, 2025[112]. Future Outlook and Strategy - The Company expects stable sales volumes in 2025 compared to 2024, with year-to-date shipments up approximately 3% through April 2025[106]. - Management anticipates generating at least $250 million of Fit To Win benefits in 2025, with a cumulative expectation of approximately $650 million through 2027[106]. - The Company is focused on improving its glass melting technology, known as the MAGMA program, to deliver economic profit within the expected timeframe[136]. Risks and Challenges - Approximately 4.5% of the Company's global sales volumes are currently exposed to new tariffs, primarily related to imports from Europe[106]. - There are risks related to the cost and availability of raw materials, labor, energy, and transportation, particularly due to ongoing geopolitical conflicts[136]. - The Company faces competitive pressures from other glass container producers and alternative packaging forms, which may impact market share[136]. - The Company has identified potential risks associated with labor shortages, labor cost increases, and strikes that could affect operations[136]. - The Company’s ability to generate sufficient future cash flows is critical to ensure that goodwill is not impaired[136]. - There have been no material changes in market risk as of March 31, 2025, compared to the previous year[138]. Accounting and Estimates - The Company has not experienced any material changes in critical accounting estimates as of March 31, 2025, compared to those reported in the Annual Report for the year ended December 31, 2024[133]. - The Company evaluates estimates and assumptions affecting reported financial results on an ongoing basis, which may not be readily apparent from other sources[132]. - The Company does not assume any obligation to update or supplement forward-looking statements based on changing conditions[137].

Core Insights - O-I Glass, Inc. reported a first-quarter 2025 adjusted loss per share of 40 cents, which was worse than the Zacks Consensus Estimate of a loss of 18 cents, compared to earnings of 45 cents per share in the same quarter last year [1][3] - The company experienced an 11% year-over-year decline in adjusted earnings due to temporary production curtailments aimed at reducing inventory levels amid sluggish demand and pricing pressure [2][3] Financial Performance - Revenues for the quarter were $1.567 billion, down 1.6% year-over-year, but exceeded the Zacks Consensus Estimate of $1.53 billion; sales volume increased by 4.4% year-over-year [3] - Cost of sales rose by 0.9% year-over-year to $1.29 billion, while gross profit decreased by 12% to $280 million, resulting in a gross margin of 17.9%, down from 20% in the prior-year quarter [4] - Selling and administrative expenses decreased by 11% year-over-year to $109 million, and segment operating profit fell to $209 million from $235 million in the prior-year period [4] Segment Performance - In the Americas segment, net sales increased by 2.2% year-over-year to $873 million, with operating profit rising by 38% to $141 million, driven by a 4% sales volume growth [5] - The Europe segment reported net sales of $667 million, down 6% year-over-year, with operating profit plunging 49% to $68 million due to competitive pressures and higher operating costs [6][7] Cash Flow and Balance Sheet - O-I Glass had cash and cash equivalents of $424 million at the end of Q1 2025, down from $734 million at the end of 2024; the company used $171 million in operating activities during the quarter [8] - Total debt increased to approximately $5 billion as of March 31, 2025, up from $4.97 billion at the end of 2024 [8] Future Outlook - The company expects adjusted earnings for 2025 to be in the range of $1.20 to $1.50 per share, indicating a potential year-over-year growth of 67% from earnings per share of 81 cents in 2024 [9] - O-I Glass anticipates free cash flow for 2025 to be between $150 million and $200 million, a significant improvement from an outflow of $128 million in 2024 [10] Stock Performance - O-I Glass shares have declined by 18.8% over the past year, compared to a 24.6% drop in the industry [11]

O-I Glass (OI) Q1 2025 Earnings Call April 30, 2025 08:00 AM ET Company Participants Chris Manuel - VP of Investor RelationsGordon Hardie - CEO, President & DirectorJohn Haudrich - CFOGeorge Staphos - Managing DirectorMichael Roxland - MD - Equity ResearchAnojja Shah - Director - Equity Research Conference Call Participants Anthony Pettinari - AnalystArun Viswanathan - Senior Equity AnalystGabe Hajde - Analyst Operator Hello, everybody, and welcome to the O I Glass First Quarter twenty twenty five Earnings ...

Financial Data and Key Metrics Changes - The company reported first quarter adjusted earnings of $0.40 per share, down from the previous year but exceeding management's expectations due to stronger sales volume and Fit to Win benefits [4][14] - Shipments increased by more than 4% compared to last year, reflecting a gradual recovery in market conditions [4][6] - The Fit to Win program generated savings of $61 million in the first quarter, contributing significantly to better-than-expected results [4][10] Business Line Data and Key Metrics Changes - Segment operating profit improved significantly in The Americas, driven by strong demand and strategic initiatives, while results in Europe trended down due to lower net prices and temporary production downtime [4][15] - In The Americas, sales volume grew nearly 4%, with strong performance in beer and spirits, while Europe saw a slight increase in volume but faced competitive pricing pressures [6][15] Market Data and Key Metrics Changes - Shipments in The Americas were up more than 4%, with inventory normalization and structural demand improvement in Latin America [6][7] - In Europe, volumes increased nearly 4% driven by customer inventory rebuilding, but there were challenges due to excess capacity and temporary curtailments [7][15] Company Strategy and Development Direction - The company is reaffirming its full-year 2025 guidance, expecting adjusted earnings to improve between 50% to 85% from 2024 levels [5][17] - The Fit to Win program aims to reduce total enterprise costs and optimize the network to support future profitable growth, with a target of $250 million in savings for 2025 [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the year, noting that while there are anticipated headwinds, the company is well-positioned to manage elements within its control [5][23] - The impact of changing global trade policies is uncertain, but the company believes it can capitalize on domestic production advantages [21][22] Other Important Information - The company is addressing excess capacity in Europe through temporary curtailments and is consulting with local works councils regarding long-term restructuring actions [7][15] - The company has made significant progress in reducing inventory, which is down approximately $225 million from the same time last year [16] Q&A Session Summary Question: Can you talk about any pre-buy effects and volume impacts? - Management indicated that pre-buying had a limited impact on the stronger volume in the quarter, with stronger sales seen in January and February [30] Question: What is the outlook for volumes in April? - Volumes were down about 1% or 2% in April, but overall, the company maintains a stable volume outlook for the year [31][32] Question: Can you provide insights on volume progress by end market? - Strong volume growth was reported across most categories in The Americas, particularly in beer and spirits, while Europe saw mixed results with some softness in spirits [44][45] Question: What are the plans for French operations given the slowdown in wine? - The company is realigning its operations to focus on premium products, while continuing to invest in key markets like France [50][51] Question: How are tariffs on aluminum seen as an opportunity? - Management noted that if aluminum prices increase, it could help close the cost gap with glass, but they are focused on improving their cost base independently of tariffs [54][57] Question: What is the expected trend for net price and operating costs throughout the year? - Net price pressures are expected to moderate in the second half of the year, while curtailment costs are also anticipated to decrease [62][63] Question: How is the company managing energy costs? - The company has favorable long-term energy contracts and is well-positioned for the current year, with ongoing efforts to manage future energy costs [78][81]