O-I Glass: Q3 Earnings Insights
Shares of O-I Glass (NYSE:OI) were flat in after-market trading after the company reported Q3 results.
Quarterly Results
Earnings per share decreased 24.07% year over year to $0.41, which beat the estimate of $0.28.
Revenue of $1,616,000,000 declined by 3.23% from the same period last year, which beat the estimate of $1,540,000,000.
Looking Ahead
O-I Glass hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
Price Action
Company's 52-week high was at $15.64
52-week low: $4.30
Price action over last quarter: down 13.88%
Company Overview
O-I Glass is the world's largest manufacturer of glass bottles--70% of its revenue comes from outside the United States. O-I has a market- leading position in key markets like Europe, North America, and Brazil, among others. Beer is the primary end market for O-I's glass bottles, which are also used for wine, soda, spirits, condiments, and food. In the coming years, O-I is looking to maintain or expand its dominant positions in Europe, Australia/New Zealand, North America, and South America.
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