O-I REPORTS SECOND QUARTER 2019 RESULTS
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Owens-Illinois (OI) Misses Q2 EPS by 8c, Revenues Beat; Offers Q3 & FY19 EPS Guidance Below Consensus
July 31, 2019 5:36 PM EDTOwens-Illinois (NYSE: OI) reported Q2 EPS of $0.69, $0.08 worse than the analyst estimate of $0.77. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.76 billion.
"The Company has been on a transformational journey and has made meaningful progress over the past three years. However, the second quarter was a challenging period for O-I. Earnings fell short of management's guidance as sales volumes were essentially flat with last year compared to our expectation of modest growth. Despite encouraging demand trends in April and May, June shipments were softer than anticipated including the... More
