Financial Performance - Second quarter 2025 adjusted earnings per share (aEPS) was $0.53, a 20% increase from the prior year[6] - The company is increasing its 2025 aEPS guidance to $1.30 - $1.55, driven by strong year-to-date performance and Fit To Win (F2W) benefits[6, 14] - First half 2025 shipments were up nearly 1% compared to the prior year, while second quarter 2025 shipments were down approximately 3%[6, 8] Fit To Win Program - The Fit To Win program delivered $84 million in savings in the second quarter 2025, bringing the first half 2025 savings to $145 million[6] - The company is targeting ≥ $650 million in Fit To Win savings by 2027[10] - The Fit To Win program is expected to provide lower cost and capital intensity capacity compared to the MAGMA program, which is being halted[6] Market Conditions and Outlook - The company is navigating mixed market conditions, with Americas up in mid-single digits (MSD) and Europe down high-single digits (HSD) in the second quarter 2025[8] - Full year 2025 sales volume is expected to be stable compared to the prior year[9] - The improved outlook may not fully reflect the potential impact of elevated uncertainty related to changing global trade policies[15] Trade and Tariffs - Approximately 14% of O-I Glass' global sales volume crosses the U S border and is exposed to new tariffs, with 9.5% expected to be exempt due to USMCA compliance, leaving a net 4.5% potentially exposed[29]

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].

Financial Performance - First quarter 2025 adjusted earnings per share (aEPS) was $0.40, exceeding management's plan but below the prior year's $0.45[6, 7] - The company reaffirms its 2025 earnings guidance, expecting a 50% to 85% improvement from 2024, with adjusted EPS between $1.20 and $1.50, compared to $0.81 in 2024[6, 13, 14] - Free cash flow is projected to be between $150 million and $200 million in 2025, a significant improvement from the negative $128 million in 2024[14] Sales Volume and Demand - First quarter 2025 sales volume increased by approximately 4.4%, driven by inventory normalization and advanced purchases ahead of new tariffs[6, 8, 9] - Sales volume in both the Americas (AM) and Europe (EU) regions increased by approximately 4% in the first quarter of 2025[9] - The company anticipates stable sales volume for the full year 2025 compared to the prior year, with a reassessment planned for mid-2025 based on favorable trends[9] Fit To Win Savings Initiative - The company achieved $61 million in savings from its Fit To Win initiative in the first quarter of 2025[6, 10] - The Fit To Win program is on track to achieve savings of at least $650 million by 2027, with $250 million or more targeted for 2025[10] Tariff Exposure and Mitigation - Approximately 4.5% of the company's global sales volume is currently exposed to new tariffs, primarily affecting U S imports from the EU[21, 22] - The company emphasizes its local supply chain, with approximately 85% of sales and supply within 300 miles of its plants, to mitigate tariff-driven consumer volatility[22]