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O-I Glass (OI)
NYSE:OI
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.08Last Year’s EPS
0.12Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 28, 2020
|% Change Since: -16.24%
|Next Earnings Date:Feb 04, 2020
Earnings Call Sentiment|Neutral
The earnings call reflected a challenging quarter with significant financial setbacks, including an adjusted net loss and production curtailments. However, the company is optimistic about future recovery, with strategic programs like Fit to Win and MAGMA expected to drive long-term growth and profitability.Company Guidance
During the O-I Glass Q3 2024 earnings call, the company provided guidance indicating a challenging year due to sluggish market conditions and inventory adjustments. They reported an adjusted net loss of $0.04 per share, primarily due to curtailment of 18% production to manage inflated inventory levels and reduced net pricing. The call highlighted the implementation of the "Fit to Win" program, expected to drive a $300 million to $350 million improvement in EBITDA by 2027, with significant reductions in SG&A costs projected to save over $200 million annually by 2026. The company anticipates at least $175 million in savings by 2025, with a strategic focus on cost competitiveness to achieve a sustainable adjusted EBITDA of at least $1.45 billion by 2027. Despite near-term pressures, O-I Glass is optimistic about a recovery in 2025, driven by enhanced productivity, strategic capacity closures, and an improved competitive position.MAGMA Program Milestone
The MAGMA program achieved a key milestone as the first greenfield plant began operations in Bowling Green, Kentucky this past quarter.
Sales Volume Growth
Sales volumes increased modestly in the third quarter, with shipments rising by 2% overall. The Americas saw a 7% increase, including double-digit growth in Brazil.
Fit to Win Program Implementation
Rapid implementation of the Fit to Win program is expected to generate over $300 million in savings by 2027, with $175 million anticipated in 2025.
Long-term Financial Targets
By 2027, O-I aims to generate sustainable adjusted EBITDA of at least $1.45 billion, free cash flow of at least 5% of sales, and an economic spread at least 2% above the cost of capital.
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OI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $12.44 | $11.55 | -7.15% |
| Jul 30, 2024 | $11.62 | $13.36 | +14.97% |
| Apr 30, 2024 | $14.96 | $12.58 | -15.91% |
| Feb 06, 2024 | $14.37 | $16.39 | +14.06% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does O-I Glass (OI) report earnings?
O-I Glass (OI) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is O-I Glass (OI) earnings time?
O-I Glass (OI) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OI EPS forecast?
OI EPS forecast for the fiscal quarter 2024 (Q4) is -0.08.
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