News

Jul 27, 2023

O

O-I Glass Inc (OI) said after close Tuesday that it earned $0.88 per share in quarter two 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst

O-I Glass Inc (OI) said after close Tuesday that it earned $0.88 per share in quarter two 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.On the revenue line, the company reported $1.9 billion, beating estimates by $60 million.In the same quarter a year ago, the company earned $0.73 per share on revenue of $1.8 billion. The stock is down 11.73% to $19.79 after the report.O-I Glass Inc's earnings expanded faster than revenues, signaling widening profit margins.The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.Trading in the five days leading up to the report earned O-I Glass Inc a Bearish Sentiment Rank from InvestorsObserver.Prior to the report, InvestorsObserver gave the stock an overall score of 73. Meanwhile, the average Wall Street analyst rated the stock a Buy.O-I Glass Inc is a manufacturer of glass containers. O-I has a presence in three markets namely Americas Europe and Asia Pacific. Beer is the primary end market for O-Is glass bottles. Its glass containers are also used for other products such as wine soda spirits condiments and food.