O-I Glass Second Quarter 2024 Earnings: Misses Expectations

[email protected] (Simply Wall St)
1 min read

In This Article:

O-I Glass (NYSE:OI) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$1.73b (down 8.5% from 2Q 2023).

  • Net income: US$57.0m (down 48% from 2Q 2023).

  • Profit margin: 3.3% (down from 5.8% in 2Q 2023).

  • EPS: US$0.37 (down from US$0.71 in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

O-I Glass Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Packaging industry in the US.

Performance of the American Packaging industry.

The company's shares are up 18% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for O-I Glass you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

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