O-I Glass(US:OI) ZACKSยท2024-07-23 15:07Core Viewpoint - O-I Glass is expected to report a year-over-year decline in earnings due to lower revenues, with the consensus EPS estimate at $0.42, reflecting a decrease of 52.3% compared to the previous year [10][12]. Earnings Expectations - The upcoming earnings report is anticipated to be released on July 30, with revenues expected to be $1.75 billion, down 7.2% from the year-ago quarter [2][3]. - The Most Accurate Estimate for O-I Glass is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.79%, indicating a bearish outlook from analysts [22]. Historical Performance - O-I Glass has beaten consensus EPS estimates in the last four quarters, delivering a surprise of +25% in the most recent quarter where it reported earnings of $0.45 against an expectation of $0.36 [8][24]. Analyst Sentiment - The consensus EPS estimate has remained unchanged over the last 30 days, reflecting a collective reassessment by covering analysts [13]. - The stock currently holds a Zacks Rank of 2 (Buy), which suggests a relatively positive sentiment despite the negative Earnings ESP [16][22]. Predictive Models - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a solid Zacks Rank [1]. - However, a negative Earnings ESP reading complicates the prediction of an earnings beat, making it difficult to conclude that O-I Glass will surpass the consensus EPS estimate [7][15].