O-I Glass reports Q4 adjusted EPS 12c, consensus 3c

Reports Q4 revenue $1.6B, consensus $1.63B. “I’m pleased to report strong 2023 performance as we successfully navigated softer macro conditions that developed over the course of the year including significant inventory de-stocking across the value chain. O-I continued to execute well through the fourth quarter and business performance moderately exceeded our expectations. As we concluded the year, strong net price and the benefit from our margin expansion initiatives helped mitigate the impact of softer demand and elevated production curtailment to balance supply with lower shipments,” said Andres Lopez, O-I Glass CEO.