O-I Glass reported second-quarter 2026 results with revenue of $1.668B, down modestly from $1.706B a year earlier, and a net loss attributable to the company of $972M, or diluted EPS of $(6.33), versus a prior-year net loss of $5M (EPS $(0.03)).
Financial Highlights
- Revenue was $1.668B for Q2 2026, compared with $1.706B in the year-ago quarter (approximately (2%) YoY).
- Net income: Net loss attributable to the Company of $972M for Q2 2026, versus net loss of $5M in the year-ago quarter.
- Diluted EPS was $(6.33) for Q2 2026, versus $(0.03) in the year-ago quarter.
Business Highlights
- Net sales declined about 2% year over year for both Q2 and the first half, driven by roughly 5–7% lower glass shipments; foreign-exchange effects partially offset volume weakness.
- Demand mix shifted, with stronger performance in food and non-alcoholic beverage containers while beer, wine and spirits remained softer, weighing on volumes.
- Pricing and cost dynamics varied by region: Europe faced net price pressure and cost inflation, while the Americas saw higher selling prices that largely offset inflationary headwinds.
- Operational actions under the Fit to Win program delivered about $91M of benefits year-to-date; restructuring and temporary plant curtailments caused some disruptions.
- Management expects second-half growth against easier comps but cautions on higher European energy costs and a gradual recovery in European demand.
Original SEC Filing:
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