O-I (OI) Tops Q2 View By 4c

July 29, 2009 5:51 PM EDT
O-I (NYSE: OI) reports Q2 EPS of $0.94, 4 cents better than the analyst estimate of $0.90. Revenue for the quarter was $1.8 billion, versus the consensus of $1.82 billion.

Commenting on the Company's outlook for the third quarter 2009, Stroucken said, "While market conditions have improved considerably in Europe and North America, we expect the global recession will continue to impact our business in all regions, especially South America. Third quarter shipments should be down modestly from the prior year and comparable with the second quarter. We expect additional benefits from our ongoing strategic footprint initiative, and improved price and mix should continue to offset cost inflation. Overall, we are well positioned to drive improved financial performance and achieve our strategic priorities as market conditions recover."

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