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O-I Glass
(NYSE:OI)
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Rating:49Neutral
Price Target:
$5.50
▼(-26.76% Downside)
Action:Reiterated
Date:08/18/26
OI scores below average primarily due to weak financial performance (sharp TTM revenue decline, sizable losses, and a highly leveraged balance sheet), which raises risk despite positive operating/free cash flow. Technicals also remain bearish with the stock trading below key moving averages, though oversold indicators temper the downside. The earnings call adds some support via cost-savings execution, strong Americas performance, and solid liquidity/no near-term maturities, but Europe-driven setbacks and reduced guidance keep the overall score restrained.
Positive Factors
Americas operating strength
Strong Americas execution provides an important earnings anchor while Europe remains pressured. Profit growth and margin expansion despite lower volumes indicate that operational improvements, portfolio actions, and regional market position can support more durable profitability.
Negative Factors
High leverage
Elevated leverage remains a major constraint because debt is large relative to the current equity base and profitability. It reduces financial flexibility, increases sensitivity to operating downturns, and limits the portion of cash flow available for reinvestment or deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Americas operating strength
Strong Americas execution provides an important earnings anchor while Europe remains pressured. Profit growth and margin expansion despite lower volumes indicate that operational improvements, portfolio actions, and regional market position can support more durable profitability.
Read all positive factors
O-I Glass Key Performance Indicators (KPIs)
Any
Revenue by Geography
Revenue split across regions reveals where O‑I earns most of its sales and where it's vulnerable to local demand swings, currency moves, and regional beverage or food market trends. Heavy concentration in a single geography increases sensitivity to that area's economic cycles, energy prices, and regulatory changes.
Revenue split across regions reveals where O‑I earns most of its sales and where it's vulnerable to local demand swings, currency moves, and regional beverage or food market trends. Heavy concentration in a single geography increases sensitivity to that area's economic cycles, energy prices, and regulatory changes.
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The Fly
The FlyO-I Glass (OI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$928.10M
Dividend Yield1.75%
Average Volume (3M)3.65M
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth-1.85%
EPS Growth-352.80%
CountryUS
Employees19,000
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)-7.52
Shares Outstanding153,659,740
10 Day Avg. Volume3,328,374
30 Day Avg. Volume3,650,621
Financial Highlights & Ratios
PEG Ratio-0.81
Price to Book (P/B)1.75
Price to Sales (P/S)0.35
P/FCF Ratio13.49
Enterprise Value/Market Cap6.77
Enterprise Value/Revenue0.99
Enterprise Value/Gross Profit6.67
Enterprise Value/Ebitda8.36
Forecast
1Y Price Target
$8.56Price Target Upside14.01% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.47
Revenue Forecast (FY)$6.38B
O-I Glass Business Overview & Revenue Model
Company Description
O-I Glass, Inc., through its various subsidiaries, is dedicated to the manufacturing and global distribution of glass packaging. The company primarily furnishes glass containers to businesses in the food and beverage industries across the Americas...
How the Company Makes Money
O-I makes money primarily by manufacturing and selling glass containers (e.g., bottles and jars) to customers in end markets such as alcoholic beverages, non-alcoholic beverages, food, and other consumer products. Revenue is generated through cust...
O-I Glass Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
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.Positive Updates
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.
Negative Updates
Sharp Decline in Adjusted Earnings Per Share
Adjusted EPS fell to $0.09 in Q2 2026 versus $0.53 in prior year (a decline of $0.44 per share, roughly an 83% decrease), driven primarily by lower net price in Europe and an unusually high adjusted tax rate that reduced results by $0.18 per share.
Read all updates
Q2-2026 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
The company narrowed 2026 guidance to adjusted EBITDA of $1.0–$1.1 billion (and removed adjusted earnings guidance because the effective tax rate is highly sensitive), expects roughly $200 million of Fit to Win savings in 2026 and at least $650 million over three years (with >$400 million already delivered since launch and $85 million YTD despite ~$30 million of direct inefficiencies and ~$45 million total disruption impact), and realigned 2027 targets to adjusted EBITDA of $1.2–$1.3 billion (including at least $150 million of incremental Fit to Win next year) while still maintaining the longer‑term $1.45 billion objective; management also cited Q2 net sales of about $1.7 billion (down ~2% YoY), shipments down ~4.5% YoY with June volumes flat, Americas segment operating profit of $165 million (up 22%, margin ~17.4%), Europe segment operating profit of $6 million (vs. $90 million prior), liquidity of $1.5 billion with no maturities until 2028, and that new business wins (~2% of annual volume) should contribute ~1–1.5% annualized run‑rate in H2 and ~2% in 2027.O-I Glass Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
38
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.36B | 6.43B | 6.53B | 7.11B | 6.86B | 6.36B |
| Gross Profit | 942.00M | 1.11B | 1.04B | 1.50B | 1.21B | 1.09B |
| EBITDA | 751.00M | 781.00M | 859.00M | 892.00M | 1.50B | 949.00M |
| Net Income | -1.15B | -129.00M | -106.00M | -103.00M | 584.00M | 149.00M |
Balance Sheet | ||||||
| Total Assets | 8.09B | 9.24B | 8.65B | 9.67B | 9.06B | 8.83B |
| Cash, Cash Equivalents and Short-Term Investments | 339.00M | 759.00M | 734.00M | 913.00M | 773.00M | 725.00M |
| Total Debt | 4.99B | 5.00B | 5.18B | 4.95B | 4.72B | 4.83B |
| Total Liabilities | 7.55B | 7.80B | 7.45B | 7.92B | 7.53B | 8.01B |
| Stockholders Equity | 383.00M | 1.29B | 1.08B | 1.61B | 1.42B | 720.00M |
Cash Flow | ||||||
| Free Cash Flow | -14.00M | 168.00M | -128.00M | 130.00M | -385.00M | 289.00M |
| Operating Cash Flow | 416.00M | 600.00M | 489.00M | 818.00M | 154.00M | 687.00M |
| Investing Cash Flow | -379.00M | -368.00M | -620.00M | -683.00M | -97.00M | -220.00M |
| Financing Cash Flow | -203.00M | -250.00M | -8.00M | -27.00M | 6.00M | -273.00M |
O-I Glass Technical Analysis
Neutral
7.51
Price Trends
6.37
Negative
7.54
Negative
9.80
Negative
Market Momentum
-0.13
Negative
49.42
Neutral
60.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OI, the sentiment is Neutral. The current price of 7.51 is above the 20-day moving average (MA) of 5.83, above the 50-day MA of 6.37, and below the 200-day MA of 9.80, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 49.42 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for OI.
O-I Glass Risk Analysis
O-I Glass disclosed 30 risk factors in its most recent earnings report. O-I Glass reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
O-I Glass Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $12.64B | 16.12 | 27.10% | 1.13% | 13.83% | -11.08% | |
67 Neutral | $4.22B | 15.28 | 11.69% | 2.13% | 8.43% | -9.80% | |
65 Neutral | $20.68B | 16.91 | 9.49% | 5.74% | 56.62% | 32.08% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | $5.03B | -24.15 | -6.12% | 4.23% | 12.01% | ― | |
54 Neutral | $2.74B | 88.61 | -6.61% | 8.71% | 14.53% | ― | |
49 Neutral | $928.10M | -0.80 | -107.76% | 1.75% | -1.85% | -352.80% |
* Consumer Cyclical Sector Average
OI
O-I Glass
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O-I Glass Corporate Events
Business Operations and StrategyExecutive/Board Changes
O-I Glass Announces Leadership Change in European Operations
Neutral
Jul 10, 2026
On July 8, 2026, O-I Glass, Inc. implemented an organizational change in its European operations, under which Emmanuelle Guérin ceased serving as Senior Vice President, Business Operations Europe, effective immediately. She remains a non-exec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.