O-I REPORTS SECOND QUARTER 2020 RESULTS

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O-I Glass (OI) Misses Q2 EPS by 6c, Revenues Miss

August 4, 2020 4:32 PM EDT

O-I Glass (NYSE: OI) reported Q2 EPS of $0.01, $0.06 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.46 billion.

Summary

Reported Earnings: For the second quarter 2020, loss from continuing operations was $0.64 per share compared with earnings of $0.42 per share (diluted) in the second quarter of 2019. Current quarter results included the unfavorable impact of the pandemic, as well as charges for restructuring, asset impairment and note repurchase premiums. Adjusted Earnings: Excluding certain items management considers not representative of ongoing operations, adjusted earnings1 were... More