O-I Glass Inc Stock Price, News & Analysis

O-I Glass has allocated EUR 255.6 million of its EUR 500 million Green Bond proceeds to fund sustainable projects, including investments in recycling glass (cullet). This initiative aims to reduce energy consumption and carbon emissions while promoting a circular economy. The company appointed its first Chief Sustainability Officer and is focused on improving the U.S. glass recycling system. O-I's sustainability goals align with the United Nations Sustainable Development Goals, aiming to cut emissions and conserve resources through innovative practices in glass production.

O-I Glass Reports Strong Q3 2020 Recovery

O-I Glass, Inc. reported a significant rebound in earnings for Q3 2020, achieving $2.06 per share from continuing operations compared to a loss of $3.69 per share in Q3 2019. This turnaround, driven by strong sales volumes and improved operational performance, was aided by a $280 million net gain from the divestiture of its Australia and New Zealand operations. Despite a 9.7% decline in production volume, the company generated $205 million in free cash flow and reduced total debt to $5.4 billion.

O-I Glass, Inc. (NYSE: O-I) has entered a strategic collaboration with Krones AG to enhance the glass packaging market. This partnership aims to innovate solutions focusing on glass filling efficiency, market responsiveness, and sustainable practices. CEO Andres Lopez emphasized that glass is a preferred packaging choice, ensuring product integrity and environmental benefits. The collaboration will leverage O-I's glass expertise and Krones' machinery developments to create integrated solutions for clients. With over 27,500 employees and revenues of $6.7 billion in 2019, O-I is committed to sustainable packaging solutions.

O-I Glass, Inc. (NYSE: OI) has scheduled its third-quarter 2020 conference call for Oct. 28, 2020, at 8 a.m. EDT. Earnings results will be released after market close on Oct. 27. Interested participants can access the conference call by dialing 1-888-733-1701 (U.S.) or 706-634-4943 (International) by 7:50 a.m. EDT. The event will include a webcast available on the O-I website. O-I Glass achieved revenues of $6.7 billion in 2019, making it a leader in the glass packaging industry with over 72 plants globally.

O-I Glass, Inc. (NYSE: OI) will participate in the Credit Suisse 33rd Annual Virtual Basic Materials Conference on September 16, 2020. CEO Andres Lopez and CFO John Haudrich are scheduled to present at 10:15 a.m. ET. A live webcast of their presentation will be available and can be accessed through the provided link. The replay will be accessible within 36 hours and archived for one year. Presentation slides will be uploaded on the company’s website after market close on September 15. O-I Glass, a leader in glass production, reported revenues of $6.7 billion in 2019.

O-I Glass, Inc. (NYSE: OI) reported its second quarter 2020 results, revealing a loss from continuing operations of $0.64 per share compared to earnings of $0.42 per share in the same quarter last year. Despite the pandemic's impact, sales volume improved in June, resulting in a total net sales of $1.4 billion, down from $1.8 billion in Q2 2019. Cash flow turned positive at $181 million as of June 30, significantly better than a cash outflow in 2019. The company anticipates a 4-7% sales volume decline for the full year, an improvement from earlier estimates.

O-I Glass, Inc. (NYSE: OI) has sold its Australia and New Zealand (ANZ) business unit to Visy Industries for approximately AUD $947 million (USD $677 million). The transaction, which includes a sale-leaseback agreement worth AUD $214 million, allows O-I to receive 95% of the proceeds immediately, with the remainder within 12 months. The ANZ unit generated sales of AUD $754 million and EBITDA of AUD $124 million in 2019. The divestiture concludes a thorough strategic review of O-I's global portfolio, with net proceeds primarily aimed at reducing debt.

O-I Glass announced the divestiture of its Australia and New Zealand (ANZ) business unit to Visy Industries for gross proceeds of approximately AUD $947 million. This strategic move aims to enhance financial flexibility and reduce debt. The company reported a positive business update for Q2 2020, indicating improved performance with cash flows remaining solidly positive despite a 15% decline in total sales volumes. Adjusted earnings are expected to be about breakeven. O-I anticipates closing the deal by August 31, 2020, following regulatory approvals.

O-I Glass, Inc. (NYSE: OI) has announced its second quarter 2020 earnings conference call scheduled for Wednesday, August 5, 2020, at 8 a.m. EDT. The earnings release will be issued after market close on August 4. Investors can access earnings presentation materials on the company's investor relations website. The event will also be available for archiving until August 2021. In 2019, O-I generated revenues of $6.7 billion and operates worldwide with over 27,500 employees across 78 plants in 23 countries.