OI earnings analysis
What we found in OI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
O-I Glass reported a Q1 2026 net sales of $1.54 billion, surpassing the consensus estimate of $1.47 billion, but adjusted EPS of $0.05 fell short of the expected $0.11. The company experienced a significant increase in net loss to $73 million compared to a loss of $16 million in Q1 2025, largely attributed to lower sales volumes and prices, particularly in Europe.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Beat Expectations
- Actual revenue was $1.54 billion, exceeding the estimated $1.47 billion.
- Adjusted EPS Miss
- Reported EPS of $0.05 fell short of the expected $0.11, marking a significant decline.
- Favorable Currency Effects
- Foreign currency translation positively impacted sales by $130 million.
- Increased Net Loss
- Net loss attributable to the company was $73 million compared to a loss of $16 million in Q1 2025.
- Lower Sales Volume
- Glass container shipments decreased by approximately 9% year-over-year.
- Segment Operating Profit Decrease
- Segment operating profit fell by $67 million, primarily due to lower net prices.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Lower Guidance for EPS
- Management revised full-year 2026 adjusted EPS to $1.00-$1.50 from $1.65-$1.90, citing energy cost inflation.
- Weak Demand in Key Markets
- Softer demand in key beer, wine, and spirits categories contributed to decreased volume.
- Energy Cost Inflation Risk
- Increased energy costs, primarily due to geopolitical tensions, are anticipated to pressure margins.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.05
- Segment
- Americas: $871 million
- Segment
- Europe: $655 million
- Segment
- Other: $14 million
What they said about what is next.
Company revised 2026 adjusted EPS guidance to $1.00–$1.50, down from $1.65–$1.90 primarily due to higher global energy costs.
The filing reads worse than the one before it.
What came before.
- 10-K · February 12, 2026
- O-I Glass’s 10-K emphasizes a three-horizon strategy anchored by the Fit to Win cost program (focused on footprint optimization and SG&A reductions), followed by a profitable growth phase and optionality for…
- 10-Q · November 5, 2025
- O-I Glass reported third-quarter net sales of $1,653 million, down $26 million or 2% versus the prior-year quarter, while reportable segment operating profit rose to $235 million (up $91 million, +63%). The company…
- 10-Q · April 30, 2025
- O-I Glass, Inc. reported Q1 2025 results with a revenue of $1.57 billion, reflecting a decrease from the prior year, alongside a reported EPS of -$0.10, missing prior-year earnings significantly. The company struggled…
- 10-Q · October 30, 2024
- O-I Glass reported third-quarter net sales of $1,679 million, down $64 million (4%) year-over-year, driven by lower average selling prices and unfavorable FX despite glass shipments increasing ~2%. Segment operating…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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