EarningsQ2 2026 Earnings Report
MX:OI Q2 2026 EPS Results
Actual EPS$1.60
Consensus EPS$4.29
Beat/MissMissed by -$2.70
One Year Ago EPS$9.40
MX:OI Q2 2026 Revenue Results
Actual Revenue$29.58B
Expected Revenue$29.80B
Beat/MissMissed by -$217.00M
YoY Revenue Growth-2.23%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:OI Upcoming Earnings
O-I Glass's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:OI Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced clear operational and commercial progress — notably in the Americas, Fit to Win savings, new business wins (~2% of volume), stable liquidity, and plant-level energy improvements — against material near-term headwinds centered in Europe (sharp profit decline, lower prices, higher energy costs, furnace and restructuring disruptions), a steep drop in adjusted EPS, a goodwill impairment, and a lowered 2026 outlook. Management emphasized that the issues in Europe are transitional, reaffirmed the strategy, and realigned targets for 2026 and 2027 while keeping longer-term goals intact. Given the mix of strong execution in parts of the business and significant Europe-driven setbacks, the overall tone is cautious with confidence in medium-term recovery but acknowledgement of near-term challenges.Company Guidance
Strong Americas Performance
Americas net sales ~$949M (up ~1% YoY) with segment operating profit up 22% YoY to $165M; margins expanded ~300 basis points to 17.4% — the highest Q2 profit in the Americas in the past 10 years despite a single furnace event and a 7% volume decline.
Fit to Win Progress and Targets
Fit to Win has generated more than $400M of net benefits since launch; delivered $85M in H1 2026 (net of $30M direct inefficiencies); revised 2026 savings target ~ $200M and a 3-year target of at least $650M, with an expected incremental $150M+ of benefits in 2027.
Stable Top Line and Strong Liquidity
Consolidated net sales were nearly $1.7B (down ~2% YoY) with June volumes flat year-over-year; liquidity of $1.5B, no debt maturities until 2028 and ample headroom on senior secured covenant.
Commercial Wins and Improving Volumes
New business wins represent approximately 2% of annual sales volume with contributions expected later in the year; June volumes were flat YoY and July performed in line with June, indicating sequential improvement; regional outperformance in Latin America (Andean group double-digit growth; Brazil up low single digits).
Operational Energy Efficiency Gains
New energy management systems delivering notable improvements in Europe, with some plants reporting 5%–7% year-over-year reductions in energy usage, supporting competitiveness and cost recovery initiatives.
Realigned 2027 EBITDA with Path to Original Target
2027 adjusted EBITDA realigned to $1.2B–$1.3B with at least $150M of incremental Fit to Win savings expected; company maintains that the original $1.45B target remains achievable over a longer timeframe.
MX:OI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed