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Tuesday, February 4, 2020

-=O-I Glas (OI) reported earnings on Tue 4 Feb 20 (a/h)

O-I Glass beats by $0.02, reports revs in-line; guides FY20 EPS in-line 
  • Reports Q4 (Dec) earnings of $0.50 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.48 and at high end of prior guidance of $0.45-0.50; revenues were unchanged year/year at $1.60 bln vs the $1.63 bln S&P Capital IQ Consensus.
  • Co issues in-line guidance for FY20, sees EPS of $2.10-2.25, excluding non-recurring items, vs. $2.17 S&P Capital IQ Consensus.
  • "As we enter 2020, we are taking bold structural actions to improve O-I's business fundamentals. We are optimizing the company's business portfolio and capital structure through accretive acquisitions and divestitures of assets that are not core to our strategy....We are focused on improving our operating performance with key turnaround initiatives including revenue optimization, factory performance and cost transformation."

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