O-I Glass Reports Fourth-Quarter Loss, Beats Expectations
Perrysburg, Ohio - O-I Glass, Inc. (OI) announced a fourth-quarter loss of $155 million, resulting in a loss per share of $1. However, adjusted for non-recurring items, the loss amounted to 5 cents per share, surpassing Wall Street estimates.
Analysts surveyed by Zacks Investment Research had forecasted a loss of 11 cents per share. Revenue for the period reached $1.53 billion.
For the full year, O-I Glass reported a loss of $106 million, or 69 cents per share, on revenue of $6.53 billion.
Despite the losses, the company anticipates full-year earnings per share in the range of $1.20 to $1.50.