Quarterly ResultJul 29, 2026, 04:37 PM
O-I Glass Reports $972M Net Loss in Q2 2026 Due to $873M Goodwill Impairment
AI Summary
O-I Glass reported a net loss of $972 million for Q2 2026, a significant decline from a $5 million net loss in Q2 2025, primarily driven by an $873 million non-cash goodwill impairment charge related to its European operations. Net sales for the quarter decreased by 2.2% to $1.668 billion. The company's European segment experienced a substantial drop in operating profit, while the Americas segment showed improvement.
Key Highlights
- Recorded $873 million non-cash goodwill impairment charge in Q2 2026 for European operations.
- Q2 2026 net loss attributable to the Company was $972 million, compared to a $5 million loss in Q2 2025.
- Basic EPS for Q2 2026 was $(6.33), down from $(0.03) in Q2 2025.
- Net sales for Q2 2026 decreased 2.2% to $1.668 billion from $1.706 billion in Q2 2025.
- Europe segment operating profit plummeted 93.3% to $6 million in Q2 2026 from $90 million in Q2 2025.
- Americas segment operating profit increased 22.2% to $165 million in Q2 2026 from $135 million in Q2 2025.
- Cash utilized in operating activities for H1 2026 was $(200) million, compared to $(16) million in H1 2025.
- Total assets decreased to $8.088 billion at June 30, 2026, from $9.243 billion at December 31, 2025.
Price Impact
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