Investing.com -- O-I Glass, Inc. (NYSE:OI) reported better-than-expected first quarter results and reaffirmed its upbeat full-year guidance, sending shares up 3.7% in after-hours trading.
The glass container manufacturer posted adjusted earnings of $0.40 per share for Q1 2025, surpassing analyst estimates of $0.23. Revenue came in at $1.6 billion, topping the consensus forecast of $1.55 billion and remaining flat YoY. The company saw sales volume growth of approximately 4.4% in tons, which was offset by unfavorable foreign currency translation and lower average selling prices.
O-I Glass reaffirmed its full-year 2025 guidance, projecting adjusted earnings per share of $1.20 to $1.50. The midpoint of this range is above the analyst consensus of $1.28, suggesting continued optimism about the company’s performance.
CEO Gordon Hardie commented on the results, stating, "O-I demonstrated strong performance in the first quarter of 2025, as our ’Fit to Win’ strategy takes hold and we make significant progress towards becoming a more competitive and profitable company."
The company’s ’Fit to Win’ initiative delivered $61 million in benefits during the quarter, exceeding projections. This helped offset expected net price pressure and the impact of temporary production curtailments aimed at rebalancing inventory levels.
Segment operating profit decreased to $209 million from $235 million in the same period last year. The Americas segment saw an improvement, while Europe experienced a decline due to lower net prices and higher operating costs.
O-I Glass expects free cash flow of $150 to $200 million in 2025, a significant improvement from the $128 million cash use in 2024. The company’s outlook assumes foreign currency rates as of April 28, 2025, and a full-year adjusted effective tax rate of approximately 33 to 36%.
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