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. (NYSE: OI) reported outstanding first quarter results for 2023, exceeding expectations and raising its full-year guidance. Net sales reached $1.8 billion, an increase from $1.7 billion year-over-year, driven mainly by higher selling prices, despite a 8% decline in sales volume. Earnings before income taxes surged to $270 million, and net earnings attributable to the company were $1.29 per share, up from $0.55 in the previous year. The company's adjusted earnings for 2023 are now projected between $3.05 and $3.25 per share, significantly higher than prior estimates of at least $2.50. Despite concerns over macroeconomic conditions and declining demand, O-I's outlook remains positive, with expectations for strong earnings in the first half of 2023 and an adjusted free cash flow target of at least $475 million.
O-I Glass has begun construction on a new greenfield glass facility in Bowling Green, KY, designed around its innovative MAGMA technology. This facility, set to open in mid-2024, represents a $240 million investment and aims to enhance the company’s glass container production capabilities. The site will introduce state-of-the-art equipment, including a modular batch system and MAGMA melter, focusing on sustainability and premium quality. The new facility is expected to create up to 140 jobs and will improve logistics while providing better service to customers. Governor Andy Beshear praised the project for its role in boosting local employment and manufacturing efficiency.
O-I Glass, Inc. (NYSE: OI) has scheduled its first quarter 2023 conference call and webcast for April 26, 2023, at 8 a.m. EDT. The earnings news release will be issued after market close on April 25. O-I Glass, based in Perrysburg, Ohio, is a leading global producer of glass bottles and jars, achieving revenues of $6.9 billion in 2022. The company's commitment to sustainability emphasizes glass as a recyclable packaging material. Investors can access earnings presentation materials on the O-I website post-announcement, and the webcast will be archived until April 2024.
Andrea Caceres, plant manager at O-I’s Lurin facility in Peru, has been recognized as a 2023 Women MAKE Honoree by the Manufacturing Institute. This award celebrates women in manufacturing who demonstrate exceptional leadership. Caceres is the first female plant manager in the Latin American region, leading efforts in safety, sustainability, and employee engagement. She has driven significant improvements in plant operations and has been actively involved in community education initiatives, including supporting local students during the pandemic. O-I Glass reported net sales of $6.9 billion in 2022, highlighting its position as a leading glass packaging producer.
O-I Glass, Inc. (NYSE: OI) will participate in the BofA Securities 2023 Global Agriculture and Materials Conference on March 2, 2023. Chief Financial Officer John Haudrich is scheduled to present at 10:10 a.m. ET.
A live webcast will be available at the BofA site, and a replay will be accessible within 24 hours for 90 days post-conference. Presentation slides will be posted on O-I's investor website before the event.
O-I Glass, based in Perrysburg, Ohio, reported net sales of $6.9 billion in 2022 and is a leading producer of glass packaging.
O-I Glass has taken significant steps towards sustainability, achieving notable accolades from various organizations. The company received a Gold rating from EcoVadis, placing it in the top 5% of assessed firms based on sustainability criteria. Sustainalytics recognized O-I as an ESG Regional Top-Rated performer for the second consecutive year, highlighting its effective management of ESG risks. Additionally, O-I was featured in Newsweek's list of America's Most Responsible Companies for 2023. CEO Andres Lopez emphasized the importance of these recognitions in reflecting O-I's commitment to sustainable practices and innovation in glass packaging.
O-I Glass reported strong financial results for 2022, exceeding guidance with earnings from continuing operations rising to $805 million and diluted EPS of $3.67. Adjusted earnings reached $2.30, surpassing expectations. Net sales increased to $6.9 billion, bolstered by higher average selling prices and a slight rise in sales volumes. Segment operating profits were $960 million, with the Americas and Europe showing positive trends despite challenges. The company also improved its capital structure and reduced net debt. For 2023, O-I anticipates continued performance improvement with projected adjusted EPS above $2.50.
O-I Glass, Inc. (OI) recently showcased its groundbreaking MAGMA technology, a modular glass production system aimed at modernizing glass manufacturing. A video released on January 26, 2023, provides insights into the operational capabilities of MAGMA and its first dedicated factory in Bowling Green, KY, expected to start in mid-2024. This innovative technology emphasizes sustainability by utilizing renewable energy and increasing recycled content while enhancing supply chain efficiency. O-I aims to set new standards in glass production, significantly reducing greenhouse gas emissions and operational costs.
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