Quarterly ResultJul 28, 2026, 04:37 PM
O-I Glass Reports Q2 Net Loss of $6.33/Share; Cuts 2026 Outlook
AI Summary
O-I Glass reported a significant net loss of $6.33 per share for Q2 2026, primarily due to a $873 million non-cash goodwill impairment and a $96 million increase in deferred tax valuation allowances related to Europe. Adjusted earnings fell to $0.09 per share, impacted by weak European performance despite strong results in the Americas. The company revised its 2026 guidance downwards for adjusted EBITDA and free cash flow, citing ongoing challenges in Europe.
Key Highlights
- Reported net loss attributable to the company was $6.33 per share in Q2 2026, compared to $0.03 per share loss in Q2 2025.
- Adjusted earnings per share decreased to $0.09 in Q2 2026 from $0.53 in Q2 2025.
- Net sales for Q2 2026 were $1.668 billion, down 2% from $1.706 billion in Q2 2025.
- Americas segment operating profit increased 22% to $165 million, with margins expanding to 17.4%.
- Europe segment operating profit significantly declined to $6 million from $90 million in the prior year.
- Revised 2026 adjusted EBITDA guidance to $1.0-$1.1 billion, down from $1.125-$1.225 billion.
- Revised 2026 free cash flow guidance to a use of $50-$150 million, from a positive $50-$150 million.
- Realigned 2027 adjusted EBITDA target to $1.2-$1.3 billion, down from $1.45 billion.
Price Impact
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