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Investing.com -- O-I Glass, Inc. (NYSE:OI) reported second quarter adjusted earnings that exceeded analyst expectations, driving shares up 5.3% as investors responded positively to the company’s performance despite challenging market conditions.
The glass container manufacturer posted adjusted earnings of $0.53 per share for the second quarter, significantly beating the analyst estimate of $0.41. Revenue for the quarter came in at $1.7 billion, in line with consensus estimates but flat compared to the same period last year.
While the company reported a net loss of $0.03 per share on a GAAP basis, down from earnings of $0.36 per share in the prior year period, adjusted earnings rose 20% YoY. The reported loss was primarily due to $108 million in restructuring and asset impairment charges, largely related to the discontinuation of the company’s MAGMA program.
"Our teams executed effectively to deliver a strong second quarter 2025 performance, despite a sluggish demand environment," said Gordon Hardie, Chief Executive Officer of O-I Glass.
Overall shipment volumes declined approximately 3% compared to the second quarter of 2024, with increased demand in the Americas offset by softening in Europe. The Americas segment saw operating profit rise to $135 million from $106 million last year, driven by cost reductions and 4% sales volume growth. Meanwhile, Europe’s segment operating profit fell to $90 million from $127 million, impacted by lower prices and a 9% drop in sales volume.
Based on strong performance from its Fit to Win initiatives, which have delivered $145 million in benefits year-to-date, O-I Glass raised its full-year 2025 adjusted earnings guidance to $1.30-$1.55 per share, up from the previous outlook of $1.20-$1.50. This represents a projected improvement of 60-90% over 2024 results.
The company maintained its free cash flow guidance of $150-$200 million for the full year, which would mark approximately $300 million improvement from the prior year.
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