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. reports developments tied to its global glass container manufacturing business, including bottles and jars for food and beverage customers. Its updates commonly address quarterly and annual results, earnings calls, investor-conference presentations, cost-transformation work under Fit to Win, manufacturing footprint and portfolio mix, market conditions, and capital-structure activity.
The company’s container end markets include beer, wine, soda, spirits, condiments, and food. News also covers non-GAAP financial measures used in management presentations, subsidiary financing activity, and other corporate updates affecting operations, governance, or balance-sheet disclosures.
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.
O-I Glass, Inc. (NYSE: OI) updated investors on June 8, 2020, about its operations amidst the Covid-19 pandemic. The company faced a decline in shipments, initially down 18% quarter-to-date but noted gradual recovery as markets reopen. Despite challenges, O-I reported modest segment operating profits and stable cash flows compared to last year. The firm has enhanced its financial flexibility through refinancing and implemented cost management measures, including temporary salary reductions and dividend suspension. O-I expects 2020 volumes to decline 5-10% year-over-year.
O-I Glass, Inc. (NYSE: OI) will participate in the Deutsche Bank 2020 Global Industrials and Materials Summit on June 9, 2020. CEO Andres Lopez and CFO John Haudrich are scheduled to present at 3:00 p.m. ET. A live webcast will be available at this link. The replay will be accessible within 24 hours post-presentation for 90 days. Additionally, presentation slides will be published on O-I's investor website after the market closes on June 8.
O-I Glass, Inc. announced that its subsidiary, Owens-Brockway Glass Container Inc., plans to offer $500 million in senior notes due 2027. The offering is subject to market conditions and will be conducted privately under Rule 144A and Regulation S. The proceeds will be used to redeem approximately $130 million of 4.875% senior notes due 2021 and to repay $105 million in borrowings. The remaining proceeds will help redeem part of OB Glass's 5.000% senior notes due 2022. The offering is unregistered and available only to qualified buyers.
Summary not available.