O-I Reports Third Quarter 2019 Results
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Owens-Illinois (OI) Misses Q3 EPS by 1c, Revenues Miss; Offers Q4 & FY19 EPS Guidance Below Consensus
October 28, 2019 4:39 PM EDTOwens-Illinois (NYSE: OI) reported Q3 EPS of $0.54, $0.01 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $1.67 billion versus the consensus estimate of $1.73 billion.
Highlights
For the third quarter 2019, loss from continuing operations was $3.69 per share (diluted), compared with earnings from continuing operations of $0.75 per share (diluted) in 2018. 2019 results included a $595 million non-cash charge to reduce the carrying value of goodwill for the companys North America business unit, primarily reflecting the continued unfavorable trend in beer demand in that market. Excluding certain items management considers not representative of ongoing... More