O-I Glass (OI) Tops Q1 EPS by 3c, Offers Guidance

O-I Glass (NYSE: OI) reported Q1 EPS of $0.35, $0.03 better than the analyst estimate of $0.32. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.47 billion.

GUIDANCE:

O-I Glass sees FY2021 EPS of $1.55-$1.75, versus the consensus of $1.60.

• The company reiterates its full year 2021 guidance of $1.55 to $1.75 adjusted earnings per share and cash provided by operating activities of approximately $615 million or higher resulting in approximately $240 million in free cash flow.

O-I Glass sees Q2 2021 EPS of $0.45-$0.50, versus the consensus of $0.38.

• This outlook assumes higher selling prices offset cost inflation as well as double-digit sales and production volume improvement compared to the second quarter 2020, which was significantly impacted by disruption from the pandemic.

For earnings history and earnings-related data on O-I Glass (OI) click here.

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