O-I Glass Third Quarter 2024 Earnings: Misses Expectations

O-I Glass (NYSE:OI) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.68b (down 3.7% from 3Q 2023).
• Net loss: US$80.0m (down by 257% from US$51.0m profit in 3Q 2023).
• US$0.52 loss per share (down from US$0.33 profit in 3Q 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 4.6%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Packaging industry in the US.

Performance of the American Packaging industry.

The company's shares are down 5.9% from a week ago.

Risk Analysis

You still need to take note of risks, for example - O-I Glass has 1 warning sign we think you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.