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O-I Glass, Inc. (OI - Free Report) reported a first-quarter 2025 adjusted loss per share of 40 cents, which beat the Zacks Consensus Estimate of a loss of 18 cents. OI had posted earnings of 45 cents per share in the year-ago quarter.
The 11% year-over-year decline was attributed to the company’s temporary production curtailment measures to lower its inventory levels amid sluggish demand and pricing pressure. OI, however, witnessed higher shipments across both the Americas and Europe and achieved $61 million in benefits from its Fit To Win initiatives.
Including one-time items, O-I Glass reported a loss of 10 cents per share for the quarter against the prior-year quarter’s earnings of 45 cents per share. This reflected the impact of the company’s restructuring actions.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Revenues were $1.567 billion, down 1.6% from the year-ago quarter. The top line, however, beat the Zacks Consensus Estimate of $1.53 billion. Sales volume (in tons) was up 4.4% year over year. This was offset by unfavorable foreign currency translation and lower average selling prices.
Cost of sales inched up 0.9% year over year to $1.29 billion. Gross profit decreased 12% year over year to $280 million. The gross margin was 17.9% compared with 20% in the prior-year quarter.
Selling and administrative expenses were down 11% year over year to $109 million.
Segment operating profit amounted to $209 million for the reported quarter, down from the prior-year period’s $235 million.
O-I Glass’ Segment Performances in Q1
Net sales in the Americas segment rose 2.2% year over year to $873 million. We expected net sales of $849 million. Operating profit rose 38% year over year to $141 million. Our estimate was $83.5 million. The variance was due to a better-than-expected 4% sales volume growth (in tons) while the net price was stable. The segment benefited from favorable operating costs owing to strong savings from the company’s Fit To Win program, somewhat offset by unfavorable foreign currency translation.
Net sales in the Europe segment were $667 million for the reported quarter, down 6% year over year. Our estimate for the segment’s net sales was $653 million. The segment’s operating profit plunged 49% year over year to $68 million, in line with our estimate.
The segment witnessed sales volume growth (in tons) of around 4%. However, lower net price given competitive pressures, as well as higher operating costs due to temporary production curtailments, more than offset Fit To Win initiative benefits, leading to the decline in profits. Segment operating profit was also impacted by $2 million from unfavorable foreign currency translation.
OI’s Cash Flow & Balance Sheet Updates
O-I Glass had cash and cash equivalents of $424 million at the end of the first quarter of 2025, down from $734 million at 2024-end. The company used $171 million of cash in operating activities in the quarter under review compared with the prior-year quarter’s usage of $270 million.
OI’s total debt was around $5 billion as of March 31, 2025, up from $4.97 billion as of Dec. 31, 2024.
OI’s 2025 Outlook Suggests Solid Upside
O-I Glass expects adjusted earnings of $1.20-$1.50 per share. The midpoint of the range indicates year-over-year growth of 67% from earnings per share of 81 cents in 2024.
OI expects 2025 free cash flow to be $150-$200 million against an outflow of $128 million in 2024.
O-I Glass Stock’s Price Performance
Shares of the company have lost 18.8% over the past year compared with the industry’s fall of 24.6%.
Packaging Corporation of America (PKG - Free Report) reported adjusted EPS of $2.31 in the first quarter of 2025, beating the Zacks Consensus Estimate of $2.21. The bottom line increased 34% year over year. The figure was above the company’s guidance of $2.21.
The upside primarily resulted from higher prices and mix in the Packaging and Paper segments and volumes in the Packaging segment. Including one-time items, earnings in the reported quarter were $2.26 per share compared with the prior-year quarter’s $1.63.
PKG’s sales in the first quarter rose 8.2% year over year to $2.141 billion. The top line surpassed the Zacks Consensus Estimate of $2.140 billion.
Silgan Holdings (SLGN - Free Report) reported a record first-quarter 2025 adjusted EPS of 82 cents per share, which beat the Zacks Consensus Estimate of 78 cents. This marked a 19% increase from EPS of 69 cents in the year-ago quarter. This was attributed to volume growth and outstanding operating performance across all segments, contribution from the Weener acquisition and savings from its cost reduction program.
Silgan’s first-quarter 2025 sales rose 11% year over year to $1.467 billion, missing the Zacks Consensus of $1.471 billion.
Crown Holdings, Inc. (CCK - Free Report) reported first-quarter 2025 adjusted earnings per share of $1.67, beating the Zacks Consensus Estimate of $1.22 by a solid margin of 37%. The bottom line marked a 64% improvement year over year. The earnings growth was driven by higher beverage can shipments across the Americas and Europe, enhanced manufacturing efficiencies and cost savings from the company’s restructuring initiatives.
CCK’s net sales in the quarter totaled $2.89 billion, surpassing the Zacks Consensus Estimate of $2.87 billion. The figure also marked an improvement of 3.7% from the year-ago quarter’s $2.78 billion.
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O-I Glass Q1 Earnings & Revenues Beat Estimates on Higher Volumes
O-I Glass, Inc. (OI - Free Report) reported a first-quarter 2025 adjusted loss per share of 40 cents, which beat the Zacks Consensus Estimate of a loss of 18 cents. OI had posted earnings of 45 cents per share in the year-ago quarter.
The 11% year-over-year decline was attributed to the company’s temporary production curtailment measures to lower its inventory levels amid sluggish demand and pricing pressure. OI, however, witnessed higher shipments across both the Americas and Europe and achieved $61 million in benefits from its Fit To Win initiatives.
Including one-time items, O-I Glass reported a loss of 10 cents per share for the quarter against the prior-year quarter’s earnings of 45 cents per share. This reflected the impact of the company’s restructuring actions.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
O-I Glass, Inc. Price, Consensus and EPS Surprise
O-I Glass, Inc. price-consensus-eps-surprise-chart | O-I Glass, Inc. Quote
OI’s Q1 Revenues & Margins Dip Y/Y
Revenues were $1.567 billion, down 1.6% from the year-ago quarter. The top line, however, beat the Zacks Consensus Estimate of $1.53 billion. Sales volume (in tons) was up 4.4% year over year. This was offset by unfavorable foreign currency translation and lower average selling prices.
Cost of sales inched up 0.9% year over year to $1.29 billion. Gross profit decreased 12% year over year to $280 million. The gross margin was 17.9% compared with 20% in the prior-year quarter.
Selling and administrative expenses were down 11% year over year to $109 million.
Segment operating profit amounted to $209 million for the reported quarter, down from the prior-year period’s $235 million.
O-I Glass’ Segment Performances in Q1
Net sales in the Americas segment rose 2.2% year over year to $873 million. We expected net sales of $849 million. Operating profit rose 38% year over year to $141 million. Our estimate was $83.5 million. The variance was due to a better-than-expected 4% sales volume growth (in tons) while the net price was stable. The segment benefited from favorable operating costs owing to strong savings from the company’s Fit To Win program, somewhat offset by unfavorable foreign currency translation.
Net sales in the Europe segment were $667 million for the reported quarter, down 6% year over year. Our estimate for the segment’s net sales was $653 million. The segment’s operating profit plunged 49% year over year to $68 million, in line with our estimate.
The segment witnessed sales volume growth (in tons) of around 4%. However, lower net price given competitive pressures, as well as higher operating costs due to temporary production curtailments, more than offset Fit To Win initiative benefits, leading to the decline in profits. Segment operating profit was also impacted by $2 million from unfavorable foreign currency translation.
OI’s Cash Flow & Balance Sheet Updates
O-I Glass had cash and cash equivalents of $424 million at the end of the first quarter of 2025, down from $734 million at 2024-end. The company used $171 million of cash in operating activities in the quarter under review compared with the prior-year quarter’s usage of $270 million.
OI’s total debt was around $5 billion as of March 31, 2025, up from $4.97 billion as of Dec. 31, 2024.
OI’s 2025 Outlook Suggests Solid Upside
O-I Glass expects adjusted earnings of $1.20-$1.50 per share. The midpoint of the range indicates year-over-year growth of 67% from earnings per share of 81 cents in 2024.
OI expects 2025 free cash flow to be $150-$200 million against an outflow of $128 million in 2024.
O-I Glass Stock’s Price Performance
Shares of the company have lost 18.8% over the past year compared with the industry’s fall of 24.6%.
Image Source: Zacks Investment Research
OI’s Zacks Rank
O-I Glass currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Packaging Stocks
Packaging Corporation of America (PKG - Free Report) reported adjusted EPS of $2.31 in the first quarter of 2025, beating the Zacks Consensus Estimate of $2.21. The bottom line increased 34% year over year. The figure was above the company’s guidance of $2.21.
The upside primarily resulted from higher prices and mix in the Packaging and Paper segments and volumes in the Packaging segment. Including one-time items, earnings in the reported quarter were $2.26 per share compared with the prior-year quarter’s $1.63.
PKG’s sales in the first quarter rose 8.2% year over year to $2.141 billion. The top line surpassed the Zacks Consensus Estimate of $2.140 billion.
Silgan Holdings (SLGN - Free Report) reported a record first-quarter 2025 adjusted EPS of 82 cents per share, which beat the Zacks Consensus Estimate of 78 cents. This marked a 19% increase from EPS of 69 cents in the year-ago quarter. This was attributed to volume growth and outstanding operating performance across all segments, contribution from the Weener acquisition and savings from its cost reduction program.
Silgan’s first-quarter 2025 sales rose 11% year over year to $1.467 billion, missing the Zacks Consensus of $1.471 billion.
Crown Holdings, Inc. (CCK - Free Report) reported first-quarter 2025 adjusted earnings per share of $1.67, beating the Zacks Consensus Estimate of $1.22 by a solid margin of 37%. The bottom line marked a 64% improvement year over year. The earnings growth was driven by higher beverage can shipments across the Americas and Europe, enhanced manufacturing efficiencies and cost savings from the company’s restructuring initiatives.
CCK’s net sales in the quarter totaled $2.89 billion, surpassing the Zacks Consensus Estimate of $2.87 billion. The figure also marked an improvement of 3.7% from the year-ago quarter’s $2.78 billion.