O-I Glass Inc Stock Price, News & Analysis

Nordson Corporation (NASDAQ: NDSN) announced that Anand Patel will succeed Ray Cushing as vice president of treasury and finance following Cushing's retirement at year-end. Anand Patel, formerly with O-I Glass, Inc. (NASDAQ: OI), has extensive experience in global treasury functions and capital market transactions. Joe Kelley, CFO, expressed confidence in Patel's ability to support Nordson’s growth trajectory. Ray Cushing oversaw significant revenue growth during his 42-year tenure, from $200 million to over $2.5 billion.

O-I Glass, Inc. (NYSE: OI) reported a robust business update for Q3 2022, indicating improved performance and an enhanced outlook. Key highlights include stronger net price realization, consistent shipment levels, and an expectation to exceed adjusted earnings guidance of $0.55 - $0.60 per share. The company raised its 2022 adjusted earnings forecast to $2.10 - $2.25 per share and Free Cash Flow outlook to at least $200 million. Following the resolution of legacy asbestos liabilities and the completion of a $1.5 billion portfolio optimization program, Moody's and S&P upgraded O-I’s credit rating, reflecting a healthier balance sheet.

O-I Glass, Inc. (NYSE: OI) will participate in the Credit Suisse 35th Annual Specialties & Basics Conference on September 14, 2022. Chief Financial Officer John Haudrich is scheduled to present at 11:00 a.m. ET. A live webcast will be available at this link, with a replay accessible within 24 hours and archived for 90 days. Presentation slides will be posted on the company's website before the event.

O-I Glass, Inc. announced a partial redemption of $300 million of its 5.875% senior notes due 2023, leaving $250 million remaining outstanding. The redemption date is set for September 9, 2022. The company will finance this redemption using cash on hand. This move aligns with the company's strategy to manage its debt effectively and is expected to impact its financial flexibility positively.

O-I Glass, Inc. (NYSE: OI) reported robust second-quarter 2022 results, with net earnings at $1.59 per share, significantly up from $0.73 the previous year. Revenue climbed to $1.8 billion, bolstered by higher selling prices that offset inflationary pressures. The company also resolved legacy asbestos liabilities and increased its full-year earnings guidance to between $2.05 and $2.20 per share, reflecting strong performance and favorable projections. Segment operating profit reached $257 million. O-I continues its transformation strategy, including a new greenfield facility in Bowling Green, KY, set to begin production in mid-2024.

O-I Glass, Inc. (NYSE: OI) has announced the construction of a new greenfield glass plant in Bowling Green, KY, investing up to $240 million. This facility will be the first built for O-I's innovative MAGMA technology, aimed at enhancing sustainable glass production. The project aligns with rising consumer demand for sustainable packaging and is expected to create approximately 140 jobs. The new plant will primarily serve the Premium Spirits category and is scheduled to begin operations by mid-2024, reinforcing O-I's commitment to sustainability and innovation.

Paddock Enterprises, a subsidiary of O-I Glass, has successfully emerged from Chapter 11 bankruptcy protection, following court confirmation of its reorganization plan on June 22, 2022. The plan addresses Paddock's asbestos-related liabilities through a fully funded $610 million Asbestos Trust, which compensates claimants while shielding Paddock and O-I Glass from future claims. CEO Andres Lopez noted that the completion of the Chapter 11 process provides closure for both the company and its claimants, ensuring an equitable resolution of Paddock's legacy issues.

O-I Glass, Inc. (NYSE: OI) will host its second quarter 2022 earnings conference call on August 3, 2022, at 8 a.m. EDT. The earnings release is set to be announced after market close on August 2, 2022. The earnings presentation materials will be available on the company's investor website upon release. O-I Glass, a leading producer of glass bottles and jars, reported revenues of $6.4 billion in 2021 and employs approximately 24,000 people across 70 plants globally. The webcast will be archived on the site until August 2023.

O-I Glass, Inc. (NYSE: OI) announced a strong performance for Q2 2022, with adjusted earnings expected to exceed $0.65 per share, surpassing previous guidance of $0.55 - $0.60. Glass container shipments increased by about 1% through May, reflecting favorable operating conditions and higher net prices. While the company did not revise its full-year outlook, it will reassess upon reporting Q2 results on August 3, 2022. O-I Glass positions itself as a leader in sustainable glass packaging, with a significant global presence and a commitment to innovation.