Welcome to our dedicated page for O-I Glass news (Ticker: OI), a resource for investors and traders seeking the latest updates and insights on O-I Glass stock.
O-I Glass Inc (NYSE: OI), the world's leading producer of sustainable glass packaging, maintains this dedicated news hub for investors and industry stakeholders. Access official press releases and curated updates covering strategic initiatives, environmental commitments, and operational developments across its global manufacturing network.
This resource provides essential insights into earnings announcements, production innovations, and partnership developments shaping the glass packaging sector. Users will find timely information on sustainability milestones, including energy-efficient manufacturing advancements and circular economy programs.
Regular updates include analysis of market trends affecting the food/beverage container industry, facility expansions, and technological improvements in glass production. Bookmark this page to stay informed about O-I Glass's position as a leader in combining industrial scale with eco-conscious manufacturing practices.
O-I Glass, Inc. announced the election of David V. Clark, II to its Board of Directors during the Annual Meeting of Share Owners on May 10, 2022. Clark, an experienced executive with nearly 31 years at General Mills and Cereal Partners Worldwide, replaces long-serving directors Anastasia D. Kelly and Peter S. Hellman, who are retiring. The board now includes 11 director nominees elected for one-year terms. CEO Andres Lopez expressed gratitude towards the retiring members and optimism for the company's positive transformation.
O-I Glass, Inc. (NYSE: OI) reported a robust start in Q1 2022 with a 6.4% increase in sales volume, achieving $1.7 billion in net sales compared to $1.5 billion in the prior year. Net earnings were $0.55 per share, a recovery from a loss of $0.62 per share in Q1 2021, with earnings before income taxes rising to $170 million. The company exceeded guidance and noted operational efficiency improvements. Positive developments included over 99% acceptance of Paddock's reorganization plan by asbestos claimants. The outlook for adjusted earnings per share is now between $1.85 and $2.10.
O-I Glass, Inc. (NYSE: OI) has announced its first quarter 2022 earnings conference call scheduled for April 26, 2022, at 8 a.m. EDT. The earnings release will be issued after market close on April 25. Detailed earnings materials will be available on the O-I website following the announcement. With revenues of $6.4 billion in 2021, O-I is a leading producer of glass bottles and jars globally. The United Nations has designated 2022 as the International Year of Glass, highlighting the significance of this sustainable packaging material.
O-I Glass, Inc. (NYSE: OI) announced early results for its tender offer to repurchase up to $250 million of certain senior notes. Valid tenders for the 5.875% Notes due 2023 and 6.625% Notes due 2027 exceeded maximum limits, leading to proration. As of February 24, 2022, $150 million of 2023 Notes and $88.179 million of 2027 Notes will be accepted for purchase. No 2025 Notes will be accepted. The early settlement date for accepted notes is scheduled for February 28, 2022.
O-I Glass, Inc. (NYSE: OI) announces participation in the BofA Securities 2022 Global Agriculture and Materials Conference on March 3, 2022. Chief Financial Officer John Haudrich will present at 9:30 a.m. ET. A live webcast can be accessed here. The presentation replay will be available within 24 hours and archived for 90 days. Slides will be posted on O-I's website before the event. O-I Glass, a leading producer of glass packaging, reported revenues of $6.4 billion in 2021.
Paddock Enterprises, LLC, a subsidiary of O-I Glass, has received approval from the United States Bankruptcy Court for its disclosure statement related to a Plan of Reorganization aimed at resolving all asbestos claims against it. This plan, which includes the creation of an Asbestos Trust with $610 million, seeks to protect O-I Glass and its affiliates from future asbestos claims. A confirmation hearing for the Plan is set for May 16, 2022, with hopes for Paddock to emerge from Chapter 11 soon after. This marks a significant step towards addressing legacy liabilities.
O-I Glass, Inc. (NYSE: OI) announced that its subsidiary, Owens-Brockway Glass Container Inc., has launched a cash tender offer for up to $250 million of its senior notes. This includes 5.875% notes due 2023, 6.625% notes due 2027, and others due in 2025. The offer has specific caps: $150 million for the 2023 notes and $100 million for the 2027 notes. The early tender deadline is set for February 24, 2022, and the offer will expire on March 10, 2022, unless extended. Holders must review the Offer to Purchase for detailed terms.
O-I Glass reported strong financial results for 2021, exceeding previous guidance. Full-year adjusted earnings per share reached $1.83, surpassing the forecast and reflecting a 50% increase from 2020. The company's segment operating profit rose 22% to $827 million, driven by a 5.3% shipment increase. Cash provided by operations was $680 million, leading to a significant debt reduction to $4.1 billion. For 2022, O-I anticipates adjusted earnings between $1.85 and $2.00 per share, bolstered by demand for sustainable packaging and ongoing margin expansion initiatives.
O-I Glass, Inc. announced its subsidiary, Paddock Enterprises, filed a Plan of Reorganization under Chapter 11 bankruptcy on January 6, 2020. This plan aims to resolve all asbestos personal injury claims through a trust funded with $610 million upon court approval. CEO Andres Lopez expressed optimism about the plan, which is expected to provide closure for O-I Glass and Paddock. A hearing for the approval of the disclosure statement is set for February 16, 2022, with a confirmation hearing anticipated in the second quarter of 2022.
O-I Glass, Inc. (NYSE: OI) has announced its full year and fourth quarter 2021 earnings conference call scheduled for February 2, 2022, at 8 a.m. EST. The earnings news release will be issued after market close on February 1, 2022. Interested participants can join via conference call by dialing provided numbers or access the webcast through the company’s investor relations website. O-I Glass is a leading global producer of glass packaging, achieving revenues of $6.1 billion in 2020, highlighting its commitment to innovation and sustainability.
FAQ
What is the current stock price of O-I Glass (OI)?
What is the market cap of O-I Glass (OI)?
