Shares of O-I Glass OI decreased 3% in after-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share decreased 98.55% year over year to $0.01, which missed the estimate of $0.07.
Revenue of $1,418,000,000 declined by 19.25% from the same period last year, which missed the estimate of $1,460,000,000.
Looking Ahead
Earnings guidance hasn't been issued by the company for now.
O-I Glass hasn't issued any revenue guidance for the time being.
Price Action
Company's 52-week high was at $15.64
Company's 52-week low was at $4.30
Price action over last quarter: Up 25.53%
Company Description
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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