O-I Glass reports Q2 EPS 88c, consensus 83c

Reports Q2 revenue $1.89B, consensus $1.84B. “We are pleased to report strong second quarter performance, which exceeded guidance, as O-I continued to execute well amid more challenging macro conditions. Business performance improved significantly from the prior year reflecting favorable net price realization, solid operating results and benefits from our ongoing margin expansion initiatives which more than offset the impact of softer demand. We continue to expect 2023 adjusted earnings will significantly exceed the prior year given strong execution and operating performance,” said Andres Lopez, O-I Glass CEO.