O-I Glass (NYSE:OI) Shares Gap Down on Disappointing Earnings

Key Points

• O-I Glass shares fell sharply after the company reported a third-quarter loss of $0.09 per share, missing the $0.16 consensus estimate, while revenue declined 1.8% year over year to $1.623 billion.
• Europe was the main source of weakness: segment operating profit plunged to $2 million from $95 million amid soft demand, higher energy and freight costs, and a slower recovery.
• Management cut its 2026 adjusted EBITDA outlook to $925 million–$950 million and expects $100 million–$120 million in fourth-quarter charges related to a proposed permanent European plant closure; analysts maintain a consensus “Hold” rating.

O-I Glass, Inc. (NYSE:OI - Get Free Report)'s share price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $6.43, but opened at $5.97. O-I Glass shares last traded at $5.5450, with a volume of 4,208,977 shares changing hands.

The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.25). The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.64 billion. O-I Glass had a positive return on equity of 10.40% and a negative net margin of 18.13%. O-I Glass's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS.

Key Headlines Impacting O-I Glass

Here are the key news stories impacting O-I Glass this week:

• Positive Sentiment: O-I Glass generated third-quarter net sales of approximately $1.623 billion, broadly near estimates, while Americas sales increased to $970 million from $940 million a year earlier. The company also reported about $1.5 billion in liquidity and approximately $50 million of quarterly benefits from its “Fit to Win” program. O-I Glass Reports $13 Million Third-Quarter Loss, Cuts 2026 Outlook
• Neutral Sentiment: Management scheduled a conference call for October 28 to discuss the results, business conditions and outlook in greater detail. O-I Glass Reports Third Quarter 2026 Results
• Negative Sentiment: The company reported an adjusted loss of $0.09 per share, versus a year-earlier profit of $0.48 and below Wall Street expectations under several reported consensus measures. Revenue fell 1.8% year over year to $1.623 billion. O-I Glass Reports Q3 Loss
• Negative Sentiment: Europe was the primary weakness: segment operating profit plunged to $2 million from $95 million, while sales declined to $634 million from $688 million. O-I cited soft demand, energy and freight inflation, and a slower-than-expected European recovery.
• Negative Sentiment: O-I cut its 2026 outlook to adjusted EBITDA of $925 million–$950 million and expects to use about $300 million in free cash flow. It also anticipates $100 million–$120 million of fourth-quarter charges tied to a proposed permanent European plant closure. O-I Glass Q3 2026 Earnings

Analyst Ratings Changes

OI has been the topic of a number of analyst reports. Zacks Research raised shares of O-I Glass from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Royal Bank Of Canada dropped their price target on shares of O-I Glass from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 13th. Bank of America restated an "underperform" rating and set a $11.00 price target on shares of O-I Glass in a report on Tuesday, July 14th. BNP Paribas Exane downgraded O-I Glass from an "outperform" rating to a "neutral" rating and set a $8.50 price objective for the company. in a research note on Thursday, July 30th. Finally, Citigroup raised shares of O-I Glass from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $8.00 to $9.00 in a research report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, O-I Glass has a consensus rating of "Hold" and a consensus price target of $9.06.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently modified their holdings of OI. Bank of America Corp DE bought a new stake in shares of O-I Glass during the 2nd quarter worth $33,436,000. BlackRock Inc. bought a new position in O-I Glass in the second quarter valued at $225,727,000. JB Capital Partners LP bought a new position in O-I Glass in the second quarter valued at $2,937,150. Wellington Management Group LLP raised its position in O-I Glass by 8.0% during the second quarter. Wellington Management Group LLP now owns 2,131,797 shares of the industrial products company's stock valued at $20,529,000 after purchasing an additional 157,472 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in O-I Glass during the second quarter worth about $10,046,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Stock Performance

The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77. The company has a 50 day simple moving average of $6.35 and a 200-day simple moving average of $9.69. The stock has a market cap of $848.97 million, a P/E ratio of -0.73, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68.

O-I Glass Company Profile

O-I Glass, Inc is a global manufacturer of glass packaging products. The company produces glass bottles and jars primarily for the food, beverage, beer, wine, spirits, and pharmaceutical industries, serving brand owners and consumer-products companies.

Its products are designed to provide packaging, preservation, and presentation for a range of consumer goods. O-I also offers glass packaging in various shapes, sizes, and colors, including custom solutions developed for individual brands.

The company traces its history to the Owens Bottle Company, founded in 1903, and the Illinois Glass Company.

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