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Owens-Illinois, Inc. Message Board

  • BAKE150 BAKE150 Oct 19, 2000 10:43 AM Flag

    conf. call

    has anyone heard back on the conf. call this morning? i wasnt able to listen in on it and would like to have any feed back from anyone who has.

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    • I listened to the replay. It was basically
      positive, like them all. A lot of time was spent on
      asbestos; nothing new, but reassuring. They continue to
      stress that their claimants are old and dying out. They
      noted the bill in congress to help the asbestos
      companies and said that if passed, oi would benefit in the
      "low" 100 million range--a bit vague, but they said it
      was no billion dollar bonanaza. I've bought pretty
      heavily on the basis of these assurances. They may be
      wrong and they may be lying ( which would be illegal)
      but it's the bet I'm making. The most positive part
      of the conference was the 2001 picture. They gave
      guidance for 10% growth, but then hinted at 15%. Their
      contracts for US glass have delayed inflation
      adjustments--the delay hurt this year, but on Jan 1 higher prices
      go into effect. One impression I had was that this
      company has a bit of pricing power.

      • 1 Reply to nellgwyn
      • Analyst believes worst is over for OI. Target
        price of mid-teens is achievable should a number of
        catalysts occur. They are a significant share
        repurchase,sale of assets not germane to currnt operations and/or
        legislation reducing financial exposure to asbestos
        liability. The worst case has been priced into stock.

    • There will be a replay of the conference call at 11:30 on the OI homepage...

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