O-I Glass (OI) Tops Q2 Earnings Estimates, Lowers '24 Outlook

O-I Glass, Inc. (OI) reported second-quarter 2024 adjusted earnings per share (EPS) of 44 cents, which beat the Zacks Consensus Estimate of 42 cents. On a year-over-year basis, earnings fell 50%, reflecting lower demand. Including one-time items, O-I Glass reported an EPS of 36 cents for the quarter compared with 69 cents in the prior-year quarter. Operational Update Revenues were $1.73 billion for the quarter under review, down 8.5% from the year-ago quarter mainly due to lower average selling prices, unfa ...