NYSE:OIPackaging
O I Glass (OI) Stock Sinks As Profit Damage Deepens Behind Flat Sales
O-I Glass just suffered a 15% hit in a single session, yet the headline story is less about collapsing demand and more about where profits are being squeezed. The stock came into today already under pressure, with declines over the past week and month. The market then latched onto another quarterly loss and harshly marked the shares down.
The real shock point in this earnings print is the profit damage behind a roughly stable revenue line near US$1.7b. Adjusted earnings per share of US$0.09...