{"id":808829,"date":"2025-02-04T16:28:10","date_gmt":"2025-02-04T21:28:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/"},"modified":"2025-02-04T16:28:10","modified_gmt":"2025-02-04T21:28:10","slug":"o-i-glass-reports-full-year-and-fourth-quarter-2024-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/","title":{"rendered":"O-I Glass Reports Full Year and Fourth Quarter 2024 Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">PERRYSBURG, Ohio, Feb.  04, 2025  (GLOBE NEWSWIRE) &#8212; <strong>FOR IMMEDIATE RELEASE<\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/p>\n<ul>\n<li style=\"text-align:left\">\n          <em>Rapidly Implementing O-I\u2019s Fit To Win Initiative To Significantly Improve Performance<\/em>\n        <\/li>\n<li style=\"text-align:left\">\n          <em>Anticipate Stronger 2025 Earnings and Cash Flow<\/em>\n        <\/li>\n<\/ul>\n<p align=\"justify\">O-I Glass, Inc. (\u201cO-I\u201d) (NYSE: OI) today reported financial results for the full year and fourth quarter ended December 31, 2024.<\/p>\n<p align=\"justify\">\n        <strong>Full Year 2024 Results<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n<p>            <strong>Net Earnings (Loss) Attributable to<\/strong><br \/>\n            <br \/>\n            <strong>To the Company<\/strong><br \/>\n            <br \/>\n            <strong>Earnings Per Share<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Earnings Before<\/strong><br \/>\n            <br \/>\n            <strong>Income Taxes<\/strong><br \/>\n            <br \/>\n            <strong>$M<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Cash Provided by<\/strong><br \/>\n            <br \/>\n            <strong>Operating Activities<\/strong><br \/>\n            <br \/>\n            <strong>$M<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>FY24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>FY23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>FY24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>FY23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>FY24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>FY23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\n            <strong>Reported<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>($0.69)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$(0.67)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$38<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$67<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$489<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$818<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Adjusted Earnings<\/strong><br \/>\n            <br \/>\n            <strong>Earnings Per Share (Diluted)<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Segment Operating Profit<\/strong><br \/>\n            <br \/>\n            <strong>$M<\/strong>\n          <\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Free Cash Flow \u2013 Source (Use)<\/strong><br \/>\n            <br \/>\n            <strong>$M<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>FY24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>FY23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>FY24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>FY23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>FY24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>FY23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\n            <strong>Non &#8211; GAAP<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>$0.81<\/strong><br \/>\n            <br \/>\n            <strong><br \/>\n              <em>Guidance: $0.70-$0.80<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$3.09<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$748<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$1,193<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>($128)<\/strong><br \/>\n            <br \/>\n            <strong><br \/>\n              <em>Guidance: ($130-$170)<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$130<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">&#8220;2024 was a challenging year for the company, with a decline in net sales and earnings before income taxes. Performance was impacted by market pressures including lower average selling prices, reduced sales volumes and temporarily higher operating costs, as we cut our inventory levels. Faced with these challenges, we took decisive action to reduce costs and manage working capital,\u201d said Gordon Hardie, O-I Glass CEO.<\/p>\n<p align=\"justify\">\u201cLooking ahead, we are aggressively implementing our Fit To Win initiative to drive improved performance and greater value. We expect this approach to enhance our overall competitiveness through greater operational efficiency, reduce enterprise costs and to position us for future sustainable value creation.\u201d<\/p>\n<p align=\"justify\">\u201cWhile we remain cautious about the commercial outlook, we anticipate better 2025 results driven by substantial cost savings from Fit To Win and higher production levels, as we moderate temporary curtailments.\u201d<\/p>\n<p align=\"justify\">\u201cWe are committed to improving economic profit and free cash flow and delivering long-term value to our shareholders,\u201d concluded Hardie.<\/p>\n<p align=\"justify\">Net sales for 2024 were $6.5 billion, a decrease of approximately 8 percent compared to $7.1 billion in the previous year. This decline was primarily due to a 2 percent decline in average selling prices, 4 percent lower sales volume (in tons), and unfavorable foreign currency translation.<\/p>\n<p align=\"justify\">Earnings before income taxes were $38 million in 2024, compared to $67 million in the prior year. Both years included items not representative of ongoing operations, such as $236 million in restructuring, pension settlement and asset impairment and other charges in 2024 and a $445 million goodwill impairment charge in the North America reporting unit in 2023. Earnings before income taxes for 2024 also reflected lower segment operating profit which was partially offset by lower interest expense and lower corporate retained and other costs.<\/p>\n<p align=\"justify\">Segment operating profit was $748 million in 2024, compared to $1,193 million in the previous year.<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Americas:<\/strong>\u00a0Segment operating profit in the Americas was $392 million, down from $511 million in the prior year. This decline was due to lower net price which impacted earnings by $41 million, a $37 million headwind from a 3.5 percent decline in sales volume (in tons), and a $44 million increase in operating costs attributed to additional temporary production curtailments to rebalance inventory levels and start-up costs at the company\u2019s first MAGMA greenfield line in Bowling Green, KY. Additionally, segment operating profit reflected a $3 million favorable foreign currency translation.<\/p>\n<\/li>\n<li style=\"text-align:justify\">\n          <strong>Europe:<\/strong>\u00a0Segment operating profit in Europe was $356 million, compared to $682 million in the prior year. This decline was due to lower net price which impacted earnings $140 million, a 4 percent decrease in sales volume (in tons) reducing segment operating profit by $29 million, and a $155 million increase in operating costs resulting from significant temporary production curtailments to rebalance inventories. Unfavorable foreign currency translation also impacted segment operating profit by $2 million.<\/p>\n<\/li>\n<\/ul>\n<p align=\"justify\">Retained corporate and other costs were $134 million in 2024, down from $224 million in the prior year, due to lower corporate spending and management incentives.<\/p>\n<p align=\"justify\">Net interest expense totaled $335 million, down from $342 million in the prior year, reflecting lower refinancing charges which were partially offset by a higher interest rate environment.<\/p>\n<p align=\"justify\">The company reported a net loss attributable to the company of $0.69 per share in 2024, compared to a net loss of $0.67 per share in 2023.<\/p>\n<p align=\"justify\">Adjusted earnings were $0.81 per share (diluted) in 2024, slightly exceeding management\u2019s most recent guidance of $0.70 to $0.80 per share (diluted), compared to $3.09 per share (diluted) in 2023.<\/p>\n<p align=\"justify\">Cash provided by operating activities was $489 million in 2024, compared to $818 million in 2023.<\/p>\n<p align=\"justify\">Free cash flow was a use of $128 million in 2024, which was slightly favorable to management\u2019s most recent outlook range of a use of $130 million to $170 million and compared to a $130 million source of cash in the prior year. Free cash flow included capital expenditures of $617 million in 2024, compared to $688 million in 2023.<\/p>\n<p align=\"justify\">Total debt was $5.0 billion as of December 31, 2024, compared to $4.9 billion at the end of the previous year. Net debt was $4.2 billion, compared to $4.0 billion in 2023.<\/p>\n<p>\n        <strong>Fourth Quarter 2024 Results<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n<p>            <strong>Net Loss Attributable to the Company <\/strong><br \/>\n            <br \/>\n            <strong>Earnings Per Share<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Loss Before Income Taxes<\/strong><br \/>\n            <br \/>\n            <strong>$M<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>4Q24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>4Q23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>4Q24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <em>4Q23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\n            <strong>Reported<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>($1.00)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>($3.05)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>($125)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>($439)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Adjusted Earnings<\/strong><br \/>\n            <br \/>\n            <strong>Earnings Per Share (Diluted)<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Segment Operating Profit<\/strong><br \/>\n            <br \/>\n            <strong>$M<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>4Q24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>4Q23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>4Q24<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong><br \/>\n              <em>4Q23<\/em><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\n            <strong>Non \u2013 GAAP<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>($0.05)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$0.12<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$136<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$168<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Net sales for the fourth quarter of 2024 were $1.5 billion, down from $1.6 billion in the prior year period and reflected 2 percent lower average selling prices and unfavorable foreign currency translation while sales volume (in tons) was flat with the prior year.<\/p>\n<p align=\"justify\">The company reported a $125 million loss before income taxes in the fourth quarter of 2024, compared to a loss before income taxes of $439 million in the prior year quarter. Most of the change was due to items not considered representative of ongoing operations, including $153 million of restructuring, pension settlement and asset impairment and other charges in 2024 and a $445 million goodwill impairment charge in the North America reporting unit in 2023. This loss before income taxes also reflected lower segment operating profit which was mostly offset by lower retained corporate and other costs.<\/p>\n<p align=\"justify\">Segment operating profit was $136 million in the fourth quarter of 2024, compared to $168 million in the prior year period.<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Americas:<\/strong>\u00a0Segment operating profit in the Americas was $96 million, up from $93 million in the fourth quarter of 2023. Segment operating profit benefited $5 million from a 5 percent growth in sales volume (in tons) and $19 million in lower operating costs while unfavorable net price was a $16 million headwind. Additionally, segment operating profit was impacted $5 million from unfavorable foreign currency translation.<\/p>\n<\/li>\n<li style=\"text-align:justify\">\n          <strong>Europe:<\/strong>\u00a0Segment operating profit in Europe was $40 million, down from $75 million in the fourth quarter of 2023. Lower segment operating profit reflected $29 million of unfavorable net price and a $8 million impact from a 5 percent decrease in sales volume (in tons), partially offset by $3 million in lower operating costs. Unfavorable foreign currency translation also impacted segment operating profit by $1 million.<\/p>\n<\/li>\n<\/ul>\n<p align=\"justify\">Retained corporate and other costs were $30 million in the fourth quarter of 2024, down from $49 million in the prior year.<\/p>\n<p align=\"justify\">The company reported a net loss attributable to the company of $1.00 per share in the fourth quarter of 2024, compared to a net loss of $3.05 per share in the same period of 2023.<\/p>\n<p align=\"justify\">Adjusted earnings were a loss of $0.05 per share in the fourth quarter of 2024, compared to adjusted earnings of $0.12 per share (diluted) in the prior year quarter.<\/p>\n<p align=\"justify\">\n        <strong>2025 Outlook<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2025 Guidance<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2024 Actual<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\n            <strong>Adjusted Earnings Per Share<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>$1.20 &#8211; $1.50<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>$0.81<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top\">\n            <strong>Free Cash Flow \u2013 Source \/ (Use) ($M)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>$150 &#8211; $200<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\n            <strong>($128)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">O-I anticipates 2025 adjusted EPS will be in the range of $1.20 to $1.50 per share, representing a 50 to 85 percent increase from 2024 levels. While management maintains a cautious commercial outlook, the company\u2019s Fit To Win cost savings initiatives should boost results. Net price will likely be a headwind due to competitive pressures in Europe, and sales volumes are projected to be flat or down slightly compared to 2024 levels. Although markets are expected to recover gradually, the company may choose to exit unprofitable businesses following restructuring actions and renewed focus on driving economic profit. Management anticipates lower operating costs due to between $175 and $200 million in Fit To Win benefits as well as higher production network utilization. Foreign currency translation will likely be an earnings headwind based on current exchange rates.<\/p>\n<p align=\"justify\">O-I expects free cash flow of between $150 and $200 million in 2025, a significant improvement from the $128 million use of cash in 2024. Higher anticipated free cash flow is attributed to improved earnings as well as lower capital expenditures and tax payments, although restructuring cash outflows are expected to increase compared to the previous year. Capital expenditures are anticipated to be between $400 and $450 million, down significantly from $617 million in 2024.<\/p>\n<p align=\"justify\">Guidance primarily reflects the company\u2019s current view on sales and production volume, mix and working capital trends; it does not reflect potential impact of tariffs on U.S. imports or retaliatory tariffs on U.S. exports. O-I\u2019s adjusted earnings outlook assumes foreign currency rates as of January 31, 2025, and a full-year adjusted effective tax rate of approximately 33 to 36 percent. The earnings and cash flow guidance ranges may not fully reflect uncertainty in macroeconomic conditions, currency rates, energy and raw materials costs, supply chain disruptions, labor challenges, and success in global profitability improvement initiatives, among other factors.<\/p>\n<p>\n        <strong>Conference Call Scheduled for February 5, 2025<\/strong><br \/>\n        \n      <\/p>\n<p align=\"justify\">O-I CEO Gordon Hardie and CFO John Haudrich will conduct a conference call to discuss the company\u2019s latest results on Wednesday, February 5, 2025, at 8:00 a.m. ET. A live webcast of the conference call, including presentation materials, will be available on the O-I website, <br \/><a href=\"http:\/\/www.o-i.com\/investors\" rel=\"nofollow\" target=\"_blank\">www.o-i.com\/investors<\/a>, in the News and Events section. A replay of the call will be available on the website for a year following the event.<\/p>\n<p align=\"justify\">Contact: Sasha Sekpeh, 567-336-5128 \u2013 O-I Investor Relations<\/p>\n<p align=\"justify\">O-I news releases are available on the O-I website at\u00a0<a href=\"http:\/\/www.o-i.com\" rel=\"nofollow\" target=\"_blank\">www.o-i.com<\/a>.<\/p>\n<p align=\"justify\">O-I\u2019s first quarter 2025 earnings conference call is currently scheduled for Wednesday, April 30, 2025, at 8:00 a.m. ET.<\/p>\n<p align=\"justify\">\n        <strong>About O-I Glass <\/strong>\n      <\/p>\n<p align=\"justify\">At O-I Glass, Inc. (NYSE: OI), we love glass and we\u2019re proud to be one of the leading producers of glass bottles and jars around the globe. Glass is not only beautiful, it\u2019s also pure and completely recyclable, making it the most sustainable rigid packaging material. Headquartered in Perrysburg, Ohio (USA), O-I is the preferred partner for many of the world\u2019s leading food and beverage brands. We innovate in line with customers\u2019 needs to create iconic packaging that builds brands around the world. Led by our diverse team of approximately 21,000 people across 69 plants in 19 countries, O-I achieved net sales of $6.5 billion in 2024. Learn more about us:\u00a0<a href=\"https:\/\/www.o-i.com\/\" rel=\"nofollow\" target=\"_blank\">o-i.com<\/a> \/\u00a0<a href=\"https:\/\/www.facebook.com\/OIGlass\" rel=\"nofollow\" target=\"_blank\">Facebook<\/a> \/ <a href=\"https:\/\/twitter.com\/OI_Glass\" rel=\"nofollow\" target=\"_blank\">Twitter<\/a> \/ <a href=\"https:\/\/www.instagram.com\/OI_Glass\/\" rel=\"nofollow\" target=\"_blank\">Instagram<\/a> \/ <a href=\"https:\/\/www.linkedin.com\/company\/o-i\" rel=\"nofollow\" target=\"_blank\">LinkedIn<\/a><br \/><strong><br \/>Non-GAAP Financial Measures<\/strong><\/p>\n<p align=\"justify\">The company uses certain non-GAAP financial measures, which are measures of its historical or future financial performance that are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. Management believes that its presentation and use of certain non-GAAP financial measures, including adjusted earnings, adjusted earnings per share, free cash flow, segment operating profit, segment operating profit margin, net debt and adjusted effective tax rate provide relevant and useful supplemental financial information that is widely used by analysts and investors, as well as by management in assessing both consolidated and business unit performance. These non-GAAP measures are reconciled to the most directly comparable GAAP measures and should be considered supplemental in nature and should not be considered in isolation or be construed as being more important than comparable GAAP measures.<\/p>\n<p align=\"justify\">Adjusted earnings relates to net earnings (loss) attributable to the company,\u00a0exclusive of items management considers not representative of ongoing operations and other adjustments because such items are not reflective of the company\u2019s principal business activity, which is glass container production. Adjusted earnings are divided by weighted average shares outstanding (diluted) to derive adjusted earnings per share. Segment operating profit relates to earnings (loss) before interest expense, net, and before income taxes and is also exclusive of items management considers not representative of ongoing operations as well as certain retained corporate costs and other adjustments. Segment operating profit margin is calculated as segment operating profit divided by segment net sales. Adjusted effective tax rate relates to provision for income taxes, exclusive of items management considers not representative of ongoing operations and other adjustments divided by earnings (loss) before income taxes, exclusive of items management considers not representative of ongoing operations and other adjustments. Management uses adjusted earnings, adjusted earnings per share, segment operating profit, segment operating profit margin, and adjusted effective tax rate to evaluate its period-over-period operating performance because it believes these provide useful supplemental measures of the results of operations of its principal business activity by excluding items that are not reflective of such operations.\u00a0 The above non-GAAP financial measures may be useful to investors in evaluating the underlying operating performance of the company\u2019s business as these measures eliminate items that are not reflective of its principal business activity.<\/p>\n<p align=\"justify\">Net debt is defined as total debt less cash. Management uses net debt to analyze the liquidity of the company.<\/p>\n<p align=\"justify\">Further, free cash flow relates to cash provided by operating activities less cash payments for property, plant, and equipment. Management has historically used free cash flow to evaluate its period-over-period cash generation performance because it believes these have provided useful supplemental measures related to its principal business activity. It should not be inferred that the entire free cash flow amount is available for discretionary expenditures, since the company has mandatory debt service requirements and other non-discretionary expenditures that are not deducted from these measures. Management uses non-GAAP information principally for internal reporting, forecasting, budgeting and calculating compensation payments.<\/p>\n<p align=\"justify\">The company routinely posts important information on its website \u2013 <a href=\"http:\/\/www.o-i.com\/investors\" rel=\"nofollow\" target=\"_blank\">www.o-i.com\/investors<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains \u201cforward-looking\u201d statements related to O-I Glass, Inc. (\u201cO-I Glass\u201d or the \u201ccompany\u201d) within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d) and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the company\u2019s current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cmay,\u201d \u201cplan,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201ccommit,\u201d and the negatives of these words and other similar expressions generally identify forward-looking statements.<\/p>\n<p align=\"justify\">It is possible that the Company\u2019s future financial performance may differ from expectations due to a variety of factors including, but not limited to the following: (1) the company\u2019s ability to achieve expected benefits from cost management, efficiency improvements, and profitability initiatives, such as its Fit to Win program, including expected impacts from production curtailments, reduction in force and furnace closures, (2) the general political, economic and competitive conditions in markets and countries where the company has operations, including uncertainties related to economic and social conditions, trade disputes, disruptions in the supply chain, competitive pricing pressures, inflation or deflation, changes in tax rates, and changes in laws or policies, war, civil disturbance or acts of terrorism, natural disasters, public health issues and weather, (3) cost and availability of raw materials, labor, energy and transportation (including impacts related to the current Ukraine-Russia and Israel-Hamas conflicts and disruptions in supply of raw materials caused by transportation delays), (4) competitive pressures from other glass container producers and alternative forms of packaging or consolidation among competitors and customers, (5) changes in consumer preferences or customer inventory management practices, (6) the continuing consolidation of the company\u2019s customer base, (7) the company\u2019s ability to improve its glass melting technology, known as the MAGMA program, and implement it in a manner to deliver economic profit within the timeframe expected in addition to successfully achieving key production and commercial milestones, (8) unanticipated supply chain and operational disruptions, including higher capital spending, (9) seasonality of customer demand, (10) the failure of the company\u2019s joint venture partners to meet their obligations or commit additional capital to the joint venture, (11) labor shortages, labor cost increases or strikes, (12) the company\u2019s ability to acquire or divest businesses, acquire and expand plants, integrate operations of acquired businesses and achieve expected benefits from acquisitions, divestitures or expansions, (13) the company\u2019s ability to generate sufficient future cash flows to ensure the company\u2019s goodwill is not impaired, (14) any increases in the underfunded status of the company\u2019s pension plans, (15) any failure or disruption of the company\u2019s information technology, or those of third parties on which the company relies, or any cybersecurity or data privacy incidents affecting the company or its third-party service providers, (16) risks related to the company\u2019s indebtedness or changes in capital availability or cost, including interest rate fluctuations and the ability of the company to generate cash to service indebtedness and refinance debt on favorable terms, (17) risks associated with operating in foreign countries, (18) foreign currency fluctuations relative to the U.S. dollar, (19) changes in tax laws or global trade policies, (20) the company\u2019s ability to comply with various environmental legal requirements, (21) risks related to recycling and recycled content laws and regulations, (22) risks related to climate-change and air emissions, including related laws or regulations and increased ESG scrutiny and changing expectations from stakeholders, and the other risk factors discussed in the Company&#8217;s filings with the Securities and Exchange Commission.<\/p>\n<p align=\"justify\">It is not possible to foresee or identify all such factors. Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company\u2019s results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document.<\/p>\n<p id=\"gnw_attachments_section-header\">\n        <strong>Attachments<\/strong>\n      <\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml.globenewswire.com\/Resource\/Download\/e5ca59b7-641c-4f07-9cd1-73e8df0e1cf3\">FY &amp; 4Q 2024 O-I Glass Earnings Presentation <\/a>\n        <\/li>\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml.globenewswire.com\/Resource\/Download\/cc781649-5f97-46ae-9a74-38b84c051a58\">FY &amp; 4Q 2024 O-I Glass Earnings Release <\/a>\n        <\/li>\n<\/ul>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1MzAzNiM2NzM1ODY5IzIwMDc4OTc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MDJmNjU5MjYtMzY3MC00ZmVjLWE1YWYtNzZiYTBlYWQ4NzYwLTEwMTk0NzA=\/tiny\/Owens-Illinois-General-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>For more information, contact:\r\nChris Manuel, Vice President of Investor Relations\r\n567-336-2600\r\nChris.Manuel@o-i.com<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PERRYSBURG, Ohio, Feb. 04, 2025 (GLOBE NEWSWIRE) &#8212; FOR IMMEDIATE RELEASE\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Rapidly Implementing O-I\u2019s Fit To Win Initiative To Significantly Improve Performance Anticipate Stronger 2025 Earnings and Cash Flow O-I Glass, Inc. (\u201cO-I\u201d) (NYSE: OI) today reported financial results for the full year and fourth quarter ended December 31, 2024. Full Year 2024 Results \u00a0 Net Earnings (Loss) Attributable to To the Company Earnings Per Share Earnings Before Income Taxes $M Cash Provided by Operating Activities $M FY24 FY23 FY24 FY23 FY24 FY23 Reported \u00a0 ($0.69) \u00a0 \u00a0 $(0.67) \u00a0 \u00a0 $38 \u00a0 $67 \u00a0 $489 \u00a0 $818 \u00a0 Adjusted Earnings Earnings Per Share (Diluted) Segment Operating Profit $M &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;O-I Glass Reports Full Year and Fourth Quarter 2024 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-808829","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>O-I Glass Reports Full Year and Fourth Quarter 2024 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"O-I Glass Reports Full Year and Fourth Quarter 2024 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PERRYSBURG, Ohio, Feb. 04, 2025 (GLOBE NEWSWIRE) &#8212; FOR IMMEDIATE RELEASE\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Rapidly Implementing O-I\u2019s Fit To Win Initiative To Significantly Improve Performance Anticipate Stronger 2025 Earnings and Cash Flow O-I Glass, Inc. (\u201cO-I\u201d) (NYSE: OI) today reported financial results for the full year and fourth quarter ended December 31, 2024. Full Year 2024 Results \u00a0 Net Earnings (Loss) Attributable to To the Company Earnings Per Share Earnings Before Income Taxes $M Cash Provided by Operating Activities $M FY24 FY23 FY24 FY23 FY24 FY23 Reported \u00a0 ($0.69) \u00a0 \u00a0 $(0.67) \u00a0 \u00a0 $38 \u00a0 $67 \u00a0 $489 \u00a0 $818 \u00a0 Adjusted Earnings Earnings Per Share (Diluted) Segment Operating Profit $M &hellip; Continue reading &quot;O-I Glass Reports Full Year and Fourth Quarter 2024 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-04T21:28:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1MzAzNiM2NzM1ODY5IzIwMDc4OTc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"O-I Glass Reports Full Year and Fourth Quarter 2024 Results\",\"datePublished\":\"2025-02-04T21:28:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\\\/\"},\"wordCount\":2871,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTM1MzAzNiM2NzM1ODY5IzIwMDc4OTc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\\\/\",\"name\":\"O-I Glass Reports Full Year and Fourth Quarter 2024 Results - 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(\u201cO-I\u201d) (NYSE: OI) today reported financial results for the full year and fourth quarter ended December 31, 2024. Full Year 2024 Results \u00a0 Net Earnings (Loss) Attributable to To the Company Earnings Per Share Earnings Before Income Taxes $M Cash Provided by Operating Activities $M FY24 FY23 FY24 FY23 FY24 FY23 Reported \u00a0 ($0.69) \u00a0 \u00a0 $(0.67) \u00a0 \u00a0 $38 \u00a0 $67 \u00a0 $489 \u00a0 $818 \u00a0 Adjusted Earnings Earnings Per Share (Diluted) Segment Operating Profit $M &hellip; Continue reading \"O-I Glass Reports Full Year and Fourth Quarter 2024 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/","og_site_name":"Market Newsdesk","article_published_time":"2025-02-04T21:28:10+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1MzAzNiM2NzM1ODY5IzIwMDc4OTc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"14 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"O-I Glass Reports Full Year and Fourth Quarter 2024 Results","datePublished":"2025-02-04T21:28:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/"},"wordCount":2871,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1MzAzNiM2NzM1ODY5IzIwMDc4OTc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/o-i-glass-reports-full-year-and-fourth-quarter-2024-results\/","name":"O-I Glass Reports Full Year and Fourth Quarter 2024 Results - 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