In This Article:
O-I Glass (NYSE:OI) Second Quarter 2024 Results
Key Financial Results
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Revenue: US$1.73b (down 8.5% from 2Q 2023).
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Net income: US$57.0m (down 48% from 2Q 2023).
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Profit margin: 3.3% (down from 5.8% in 2Q 2023).
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EPS: US$0.37 (down from US$0.71 in 2Q 2023).
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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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com