O-I GLASS REPORTS SECOND QUARTER 2025 RESULTS
PERRYSBURG, Ohio, July 29, 2025 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE
Strong Second Quarter Performance As ‘Fit to Win' Momentum Accelerates
Increasing Full-Year 2025 Guidance
O-I Glass, Inc. ("O-I") (NYSE:OI) today reported financial results for the second quarter ended June 30, 2025.
Net Earnings (Loss) Attributable to the Company Per Share (Diluted)
Earnings Before Income Taxes$M
2Q25
2Q24
2Q25
2Q24
Reported
($0.03)
$0.36
$7
$104
Adjusted EarningsEarnings Per Share (Diluted)
Segment Operating Profit$M
2Q25
2Q24
2Q25
2Q24
Non, GAAP
$0.53
$0.44
$225
$233
"Our teams executed effectively to deliver a strong second quarter 2025 performance, despite a sluggish demand environment," said Gordon Hardie, Chief Executive Officer of O-I Glass. "While reported earnings declined year-over-year due to restructuring charges, our adjusted earnings rose 20 percent compared to the second quarter of last year. Notably, the company's continued performance on Fit to Win initiatives to improve our competitive position has more than offset macroeconomic softness in several markets."
"The company remains focused on executing against controllable factors—and the results reflect that discipline. Year-to-date, Fit to Win benefits have reached $145 million, reinforcing our confidence in achieving or surpassing the ambitious goals we set during our recent Investor Day. Given our strong performance and momentum, we are raising our full-year 2025 guidance and now anticipate adjusted earnings will increase 60 to 90 percent over 2024."
"Following a comprehensive review, we have made the financially prudent decision to halt further MAGMA development and operations. While the earlier stages delivered meaningful technical advancements, we have concluded the platform does not have a pathway to the operational or financial return requirements as previously outlined."
"Through our ‘Best at Both' operations strategy, as outlined at Investor Day, we believe we can drive significantly higher premium output at lower operating cost and capital intensity than MAGMA would have realized in the coming years. This decision aligns with our focus on driving competitiveness and economic profit. Accordingly, we intend to reconfigure our Bowling Green facility into a best-cost, premium-focused operation. We are confident this is the right path forward for our business, our customers, and our shareholders," Hardie concluded.
Second Quarter 2025 Results
O-I Glass reported second quarter 2025 net sales of $1.7 billion, consistent with the prior year. Net Sales benefited from favorable currency translation; however, this was offset by slightly lower selling prices and an approximately 3 percent decline in shipment volume (in tons). While demand increased in the Americas, it softened in Europe. On a year-to-date basis, shipment volumes were up nearly 1 percent compared to ...
