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O-I Glass (OI) Up 6.5% Since Last Earnings Report: Can It Continue?
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It has been about a month since the last earnings report for O-I Glass (OI - Free Report) . Shares have added about 6.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is O-I Glass due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for O-I Glass, Inc. before we dive into how investors and analysts have reacted as of late.
O-I Glass Q1 Earnings Miss on Europe Weakness and Energy Reset
O-I Glass posted first-quarter 2026 adjusted earnings of 5 cents per share, missing the Zacks Consensus Estimate of 9 cents by 44.4%. Results also fell sharply from 40 cents a year ago.
Net sales were $1.54 billion, edging down 1.7% year over year, but beating the consensus mark of $1.43 billion by 7.8%. Shipments declined 8%, with a tougher operating backdrop in Europe as energy costs stepped up and price competition intensified.
On an adjusted basis, segment operating profit declined to $142 million from $209 million a year ago. The downside was driven by near-term European challenges and the reset in energy costs despite steadier conditions in the Americas.
O-I Glass’ Segment Performances in Q2
Americas net sales were $871 million in the first quarter of 2026, essentially flat with $873 million in the prior-year period. Favorable currency translation and net price benefits were offset by lower sales volume and mix.
Segment operating profit in the Americas was $142 million versus $141 million a year ago, with segment margin holding at 16.3% compared with 16.2%. The bridge provided by the company showed gains from price and currency that were largely counterbalanced by volume, mix and operating cost pressures.
Europe net sales came in at $655 million, down from $667 million in the year-ago quarter. The company cited favorable currency translation that partially offset lower selling prices, along with a high-single-digit volume decline tied to softer wine demand in Southern Europe. Europe segment operating profit fell to breakeven from $68 million a year ago.
OI Revises 2026 Guidance as Energy Inflation Builds
Reflecting the changed cost backdrop, OI revised its full-year 2026 outlook. The company now expects adjusted earnings per share of $1.00-$1.50, down from its prior view of $1.65-$1.90, primarily due to higher global energy costs linked to conflicts in the Middle East and additional net price pressure in Europe.
O-I also updated its expectations for adjusted EBITDA to $1.12-$1.22 billion compared with the earlier $1.25-$1.30 billion. Free cash flow is now projected at $50-$150 million compared with roughly $200 previously, with the company noting that its energy management practices are expected to limit further exposure and cover 75%-80% of 2026 European gas needs.
How Have Estimates Been Moving Since Then?
Since the earnings release, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -36.26% due to these changes.
VGM Scores
Currently, O-I Glass has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise O-I Glass has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
O-I Glass is part of the Zacks Glass Products industry. Over the past month, Apogee Enterprises (APOG - Free Report) , a stock from the same industry, has gained 5.6%. The company reported its results for the quarter ended February 2026 more than a month ago.
Apogee Enterprises reported revenues of $351.35 million in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.92 for the same period compares with $0.89 a year ago.
Apogee Enterprises is expected to post earnings of $0.43 per share for the current quarter, representing a year-over-year change of -23.2%. Over the last 30 days, the Zacks Consensus Estimate has changed -11.3%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Apogee Enterprises. Also, the stock has a VGM Score of A.
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O-I Glass (OI) Up 6.5% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for O-I Glass (OI - Free Report) . Shares have added about 6.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is O-I Glass due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for O-I Glass, Inc. before we dive into how investors and analysts have reacted as of late.
O-I Glass Q1 Earnings Miss on Europe Weakness and Energy Reset
O-I Glass posted first-quarter 2026 adjusted earnings of 5 cents per share, missing the Zacks Consensus Estimate of 9 cents by 44.4%. Results also fell sharply from 40 cents a year ago.
Net sales were $1.54 billion, edging down 1.7% year over year, but beating the consensus mark of $1.43 billion by 7.8%. Shipments declined 8%, with a tougher operating backdrop in Europe as energy costs stepped up and price competition intensified.
On an adjusted basis, segment operating profit declined to $142 million from $209 million a year ago. The downside was driven by near-term European challenges and the reset in energy costs despite steadier conditions in the Americas.
O-I Glass’ Segment Performances in Q2
Americas net sales were $871 million in the first quarter of 2026, essentially flat with $873 million in the prior-year period. Favorable currency translation and net price benefits were offset by lower sales volume and mix.
Segment operating profit in the Americas was $142 million versus $141 million a year ago, with segment margin holding at 16.3% compared with 16.2%. The bridge provided by the company showed gains from price and currency that were largely counterbalanced by volume, mix and operating cost pressures.
Europe net sales came in at $655 million, down from $667 million in the year-ago quarter. The company cited favorable currency translation that partially offset lower selling prices, along with a high-single-digit volume decline tied to softer wine demand in Southern Europe. Europe segment operating profit fell to breakeven from $68 million a year ago.
OI Revises 2026 Guidance as Energy Inflation Builds
Reflecting the changed cost backdrop, OI revised its full-year 2026 outlook. The company now expects adjusted earnings per share of $1.00-$1.50, down from its prior view of $1.65-$1.90, primarily due to higher global energy costs linked to conflicts in the Middle East and additional net price pressure in Europe.
O-I also updated its expectations for adjusted EBITDA to $1.12-$1.22 billion compared with the earlier $1.25-$1.30 billion. Free cash flow is now projected at $50-$150 million compared with roughly $200 previously, with the company noting that its energy management practices are expected to limit further exposure and cover 75%-80% of 2026 European gas needs.
How Have Estimates Been Moving Since Then?
Since the earnings release, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -36.26% due to these changes.
VGM Scores
Currently, O-I Glass has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise O-I Glass has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
O-I Glass is part of the Zacks Glass Products industry. Over the past month, Apogee Enterprises (APOG - Free Report) , a stock from the same industry, has gained 5.6%. The company reported its results for the quarter ended February 2026 more than a month ago.
Apogee Enterprises reported revenues of $351.35 million in the last reported quarter, representing a year-over-year change of +1.6%. EPS of $0.92 for the same period compares with $0.89 a year ago.
Apogee Enterprises is expected to post earnings of $0.43 per share for the current quarter, representing a year-over-year change of -23.2%. Over the last 30 days, the Zacks Consensus Estimate has changed -11.3%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Apogee Enterprises. Also, the stock has a VGM Score of A.