O-I Glass Misses Q3 Earnings & Revenue Estimates, Lowers '24 Outlook

Zacks11-01

O-I Glass, Inc. OI reported a third-quarter 2024 adjusted loss per share (EPS) of 4 cents, which missed the Zacks Consensus Estimate of earnings of 3 cents. The company posted earnings of 80 cents in ...

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The company posted earnings of 80 cents in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/o-glass-misses-q3-earnings-165500371.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>O-I Glass Misses Q3 Earnings & Revenue Estimates, Lowers '24 Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nO-I Glass Misses Q3 Earnings & Revenue Estimates, Lowers '24 Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-01 00:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/o-glass-misses-q3-earnings-165500371.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>O-I Glass, Inc. OI reported a third-quarter 2024 adjusted loss per share (EPS) of 4 cents, which missed the Zacks Consensus Estimate of earnings of 3 cents. The company posted earnings of 80 cents in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/o-glass-misses-q3-earnings-165500371.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OI","symbol_name":"欧文斯伊利诺玻璃","start_time":0,"source_url":"https://finance.yahoo.com/news/o-glass-misses-q3-earnings-165500371.html","article_id":"2480303050","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/U45CrReyOBmRPBdkCWGGVw--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/742c2718f9ff3a297d02254acce5007b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480303050","pubTimestamp":1730393700,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"O-I Glass, Inc. OI reported a third-quarter 2024 adjusted loss per share  of 4 cents, which missed the Zacks Consensus Estimate of earnings of 3 cents. The company posted earnings of 80 cents in the year-ago quarter. The downside was led by significant production curtailment due to sluggish demand.Including one-time items, O-I Glass reported a loss per share of 52 cents for the quarter against earnings per share  of 32 cents in the prior-year quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Revenues were $1.68 billion for the quarter under review, down 3.7% from the year-ago quarter due to lower average selling prices and unfavorable foreign currency translation, partially offset by higher sales volume. The top line missed the Zacks Consensus Estimate of $1.79 billion. Sales volume  rose 2% in the quarter.OI lowered its projection for 2024, citing weak demand, a planned temporary production curtailment to reduce inventory levels and lower-than-anticipated ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"OI":"欧文斯伊利诺玻璃","ATR":"Aptar"},"translate_title":"O-I Glass未达到第三季度盈利和收入预期，下调24年展望","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ATR":0.9,"OI":0.9},"content_text":"O-I Glass, Inc. OI reported a third-quarter 2024 adjusted loss per share (EPS) of 4 cents, which missed the Zacks Consensus Estimate of earnings of 3 cents. The company posted earnings of 80 cents in the year-ago quarter. The downside was led by significant production curtailment due to sluggish demand.Including one-time items, O-I Glass reported a loss per share of 52 cents for the quarter against earnings per share (EPS) of 32 cents in the prior-year quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.\nOI’s Q3 Revenues & Margins Dip Y/Y\nRevenues were $1.68 billion for the quarter under review, down 3.7% from the year-ago quarter due to lower average selling prices and unfavorable foreign currency translation, partially offset by higher sales volume. The top line missed the Zacks Consensus Estimate of $1.79 billion. Sales volume (in tons) rose 2% in the quarter.\n\nO-I Glass, Inc. Price, Consensus and EPS Surprise\n\nO-I Glass, Inc. price-consensus-eps-surprise-chart | O-I Glass, Inc. QuoteThe cost of sales rose 6.2% year over year to $1.46 billion. Gross profit decreased 40.9% year over year to $215 million. The gross margin was 12.8% for the quarter under review compared with 20.9% in the prior-year quarter. Selling and administrative expenses were down 23.1% year over year to $103 million.Adjusted segment operating profit amounted to $144 million for the reported quarter, down from the prior-year period’s $301 million.\n\nO-I Glass Q3 Segmental Performance\nNet sales in the Americas segment fell 0.8% year over year to $940 million for the third quarter. Our model estimated the segment’s net sales to be $912 million. Operating profit was down 24.1% year over year to $88 million. The figure was higher than our estimate of $70 million. Gains from a 7% rise in sales volumes (in tons) were offset by lower net price.Net sales in the Europe segment were $706 million for the reported quarter, down 7.8% year over year. The figure lagged our estimate of $792 million. The segment’s operating profit fell 69.7% year over year to $56 million. Our model had predicted an operating profit of $77 million.\nOI’s Q3 Cash Flow & Balance Sheet Updates\nO-I Glass had cash and cash equivalents of $755 million at the end of Sept. 30, 2024, down from $913 million at 2023 end. The company generated $191 million in cash from operating activities in the quarter under review compared with the prior-year quarter’s $339 million.OI’s long-term debt was $4.7 billion as of Sept. 30, 2024, fairly flat with that reported on Dec. 31, 2023.\nO-I Glass’ 2024 Outlook\nOI lowered its projection for 2024, citing weak demand, a planned temporary production curtailment to reduce inventory levels and lower-than-anticipated shipment levels for the year. The company expects adjusted earnings of 70-80 cents per share, down from the previously stated $1.00-$1.25. Sales volume (in tons) is projected to decrease in the low-single to mid-single digits. The company earlier expected sales volumes to be flat to down in the low-single digits.\nOI’s Stock Price Performance\nShares of the company have gained 21.1% in a year against the industry’s 11.7% decline.\nImage Source: Zacks Investment Research\n \nO-I Glass’ Zacks Rank\nO-I Glass currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nPerformances of Other Packaging Stocks\nPackaging Corporation of America PKG reported an adjusted EPS of $2.65 in the third quarter of 2024, beating the Zacks Consensus Estimate of earnings of $2.48. The bottom line was higher than the company’s earnings guidance of $2.45 per share and grew 29% year over year. The upside was driven by higher volume in both segments, and increased prices and mix in the Packaging segment, partially offset by lower prices and mix in the Paper segment.Sales in the third quarter rose 12.6% year over year to $2.18 billion due to higher volumes. The top line beat the Zacks Consensus Estimate of $2.09 billion.AptarGroup, Inc. ATR reported a third-quarter 2024 adjusted EPS of $1.49, beating the Zacks Consensus Estimate of $1.43. The bottom line increased 6% year over year from $1.40 (including comparable exchange rates).Total revenues increased 1.8% year over year to $909 million in the reported quarter. However, the reported figure missed the Zacks Consensus Estimate of $932 million. Core sales, excluding currency and acquisition effects, improved 2% year over year due to strong performances in the pharma and closures segments. Silgan Holdings SLGN reported a third-quarter adjusted EPS of $1.21, which missed the Zacks Consensus Estimate of $1.23. The bottom line was 4% higher than EPS of $1.16 in the year-ago quarter.Silgan posted revenues of $1.75 billion, which missed the consensus estimate of $1.84 billion. The figure was 3% lower than the year-ago revenues of $1.8 billion. Revenues  declined due to the contractual pass-through of lower raw material costs, mostly in the Metal Containers segment.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nO-I Glass, Inc. (OI) : Free Stock Analysis Report\nSilgan Holdings Inc. (SLGN) : Free Stock Analysis Report\nPackaging Corporation of America (PKG) : Free Stock Analysis Report\nAptarGroup, Inc. (ATR) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480303050"}