Core Viewpoint - O-I Glass, Inc. reported a mixed financial performance for the second quarter of 2025, with a significant decline in reported earnings due to restructuring charges, while adjusted earnings showed a 20% increase year-over-year, reflecting the effectiveness of the company's "Fit to Win" initiatives [2][4][8]. Financial Performance - The company reported net sales of $1.7 billion for Q2 2025, consistent with the previous year, benefiting from favorable currency translation but offset by lower selling prices and a 3% decline in shipment volume [3]. - Earnings before income taxes were $7 million, down from $104 million in Q2 2024, primarily due to $108 million in restructuring and asset impairment charges related to the MAGMA program discontinuation [4]. - Adjusted earnings per share (EPS) were $0.53, up from $0.44 in the same quarter last year, while reported EPS was a loss of $0.03 compared to a profit of $0.36 [8]. Strategic Initiatives - The company has halted further development of the MAGMA program, concluding it does not meet operational or financial return requirements, and plans to reconfigure its Bowling Green facility to focus on premium output at lower costs [2][10]. - The "Fit to Win" initiative has generated $145 million in benefits year-to-date, contributing to the company's confidence in achieving its ambitious goals [2]. Updated Guidance - O-I Glass raised its full-year 2025 adjusted earnings guidance to a range of $1.30 to $1.55 per share, reflecting a projected improvement of 60% to 90% over 2024 results [9]. - The company anticipates free cash flow of $150 to $200 million for the full year, a significant improvement from the previous year despite expected cash restructuring costs of $140 to $150 million [9]. Segment Performance - In the Americas, segment operating profit increased to $135 million from $106 million, driven by operating cost reductions and a 4% growth in sales volume [14]. - In Europe, segment operating profit declined to $90 million from $127 million, impacted by a 9% drop in sales volume and higher operating costs [14].