PresentationHappy to have one of the very first companies we ever had at one of our conferences. We won't say how long ago, O-I Glass and its Chief Financial Officer, John Haudrich, an old friend of ours, having joined the company in 2009 and having become Chief Financial Officer in 2019. Also in the audience is our friend and Head of Investor Relations, Chris Manuel. Chris, thanks for being here. Thank you for being here. Great that you're here. And I want to thank you for making the track again with all o ...

Summary of O-I Glass Conference Call Company Overview - O-I Glass is the world's largest glass container manufacturing company, serving top brands in various categories including beer and spirits [2][3] - The company operates 64 plants across 18 countries and employs nearly 20,000 people [3] Core Strategies and Business Outlook - O-I Glass aims to improve competitiveness by conducting an end-to-end value chain analysis to identify cost-saving opportunities [5] - The company projects an 8% CAGR in EBITDA improvement, focusing on premium categories and expanding into new geographies [6] - The current strategy, "Fit to Win," is focused on radical cost reduction, with a target of $750 million in savings, representing a 15% reduction in the company's cost base [7][8] Financial Performance - In 2025, O-I Glass achieved $300 million in cost savings, exceeding the target of $250 million, and aims for at least $275 million in 2026 [7] - The company maintains its 2026 guidance despite facing earnings pressure, particularly in the wine category in Southern Europe [9][10] - Free cash flow has rebounded, and the company is experiencing positive economic profit growth [8][12] Market Challenges - O-I Glass is facing increased pricing pressure in the wine category, particularly in Italy and France, due to competitive dynamics [9][10] - The company is restructuring its European operations, which involves closing three factories and incurring temporary logistics costs [10] Innovation and Market Trends - O-I Glass emphasizes the importance of innovation to stimulate demand, especially as glass becomes more competitively priced against aluminum [75][76] - The company is seeing renewed interest from customers in utilizing glass for new product designs, particularly in the beverage sector [75][76] - There is a noted shift in consumer preferences towards premium products, which aligns with O-I Glass's strategy to focus on higher-end offerings [120][122] Operational Efficiency - The Total Organization Effectiveness (TOE) program aims to improve plant productivity and release trapped capacity, with a focus on speed and labor efficiencies [50][52] - The company is addressing historical inefficiencies in production standards, allowing for increased output without compromising quality [105][111] Regional Insights - North America has historically had the highest capital intensity, with opportunities for improvement, while Latin America is well-run and Europe is in between [118] - O-I Glass is adapting its operations to meet the specific needs of different markets, focusing on premium and mainstream opportunities [119] Conclusion - O-I Glass is positioned to leverage its strengths in glass manufacturing while addressing market challenges through cost management and innovation [12][130] - The company believes that glass remains a winning proposition in the beverage market, particularly as consumer preferences evolve [129]

CAPITAL MARKETS PRESENTATION 1Q 2026 SAFE HARBOR COMMENTS AND FORWARD-LOOKING STATEMENTS 2 This presentation contains "forward-looking" statements related to O-I Glass, Inc. ("O-I Glass" or the "Company") within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the Company's current expectations and projections about future events at the time, and thus involve uncer ...

CAPITAL MARKETS PRESENTATION 1Q 2026 SAFE HARBOR COMMENTS AND FORWARD-LOOKING STATEMENTS 2 This presentation contains "forward-looking" statements related to O-I Glass, Inc. ("O-I Glass" or the "Company") within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the Company's current expectations and projections about future events at the time, and thus involve uncer ...

Maintaining Full-Year 2026 Guidance, But Seeing Additional Earnings Pressure in 1Q26PERRYSBURG, Ohio, Feb. 25, 2026 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE John Haudrich, Chief Financial Officer of O-I Glass, Inc. (“O-I,” NYSE: OI), will present at the BofA Securities 2026 Global Agriculture and Materials Conference on Wednesday, February 25, 2026, at 10:30 a.m. ET. During the presentation, O-I will outline its strategy to enhance shareholder value through improved competitiveness, disciplined cost trans ...

PERRYSBURG, Ohio, Feb. 18, 2026 (GLOBE NEWSWIRE) -- O-I Glass, Inc. (“O-I Glass” or “O-I”) today announced the Company will participate in BofA Securities 2026 Global Agriculture and Materials Conference on Wednesday, February 25, 2026. O-I Glass Chief Financial Officer John Haudrich will present at 10:30 a.m. ET. A live webcast of the presentation will be available at https://bofa.veracast.com/webcasts/bofa/globalagriculture2026/RnXq1t.cfm or can be accessed on the Company’s Investor Relations website, www ...

The number of shares of common stock, $.01 par value of O-I Glass, Inc. outstanding as of January 30, 2026 was 152,361,609. DOCUMENTS INCORPORATED BY REFERENCE Portions of the O-I Glass, Inc. Proxy Statement for the Annual Meeting of Share Owners to be held Wednesday, May 13, 2026 ("2026 Proxy Statement") are incorporated by reference into Part III hereof. Table of Contents TABLE OF CONTENTS | PART I | | 1 | | --- | --- | --- | | ITEM 1. | BUSINESS | 1 | | ITEM 1A. RISK FACTORS | | 9 | | ITEM 1B. UNRESOLVED ...

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Core Viewpoint - O-I Glass reported improved earnings and margins for 2025, with a positive outlook for 2026 despite challenges in demand and rising energy costs in Europe [4][6][14] Financial Performance - Adjusted earnings for 2025 were $1.60 per share, nearly doubling compared to 2024, with free cash flow of $168 million [3][6] - Adjusted EBITDA increased by 11% to approximately $1.25–1.3 billion for 2026, reflecting up to 7% growth [5][14] - Free cash flow is expected to be around $200 million in 2026, influenced by higher earnings and capital expenditures of about $450 million [15] Cost Management and Efficiency - The Fit to Win program delivered $300 million in savings for 2025, exceeding initial targets, with an increased three-year cumulative target raised to at least $750 million [7][5] - The program is expected to generate at least $275 million in additional savings for 2026 [5][7] Market Trends and Strategic Focus - The company is shifting its product mix towards higher value categories such as premium spirits, food, non-alcoholic beverages, and ready-to-drink products, which are outperforming mainstream beer and wine trends [1] - Management anticipates stable or slightly higher net sales for 2026, supported by better gross pricing and favorable foreign exchange [13][14] Segment Performance - In the Americas, segment operating profit rose 40%, despite a 10% decline in volumes, attributed to inventory adjustments and changing consumer behavior [11] - European segment operating profit increased by 8%, with a 3.5% decline in volumes, while strategic initiatives and higher production contributed positively [12] Operational Improvements - The company is enhancing demand forecasting and supply chain efficiency, with forecast accuracy improving from about 50% to approximately 68% [20] - A revamp of the go-to-market model is underway, focusing on better insights and rigorous sales management [21] Future Outlook - Management expects the first quarter of 2026 to be challenging due to prior-year comparisons, but anticipates volume improvements throughout the year [16] - The company reaffirmed its 2027 Investor Day targets, emphasizing progress in adjusted EBITDA, margins, and free cash flow conversion [22]

Financial Data and Key Metrics Changes - The company reported full-year adjusted earnings of $1.60 per share, nearly doubling compared to 2024, with free cash flow rebounding to $168 million [3][4] - Adjusted EBITDA increased by 11%, with margins expanding by 220 basis points, driven by Fit to Win benefits [7] - Economic spread expanded by 200 basis points, supported by stronger earnings and disciplined capital allocation [5] Business Line Data and Key Metrics Changes - In the Americas, segment operating profit rose by 40%, despite a 10% decline in volumes, primarily in beer and spirits [12] - In Europe, segment operating profit increased by 8%, with volumes declining by 3.5% [14] - The company shifted its mix towards higher value categories, resulting in a 1% increase in the quality of its business portfolio [6] Market Data and Key Metrics Changes - Shipments in tons were down 2.5%, reflecting a 3% decline in consumer consumption [5] - The company maintained a stable top line, with average selling prices remaining flat while favorable foreign exchange largely offset volume declines [11] - The company noted that the U.S. market is experiencing high inventory levels, particularly in spirits, affecting consumption [23] Company Strategy and Development Direction - The company is focused on executing its Fit to Win initiative, which delivered $300 million in savings in 2025 and aims for at least $275 million in 2026 [8][9] - The company is committed to exiting unprofitable business segments to improve economic profit while maintaining or growing market share [15] - The company is reorienting its portfolio towards higher growth segments such as non-alcoholic beverages and premium spirits [58] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic pressures but expressed confidence in achieving 2027 financial targets [4][18] - The company expects continued progress in 2026, with adjusted EBITDA projected between $1.25 billion and $1.3 billion, representing up to 7% growth versus 2025 [15] - Management highlighted the importance of disciplined execution and cost management in navigating the challenging environment [8][18] Other Important Information - The company is working to improve supply chain efficiency, with forecasting success rates increasing from 50% to approximately 68%-69% [50] - The company anticipates a challenging first quarter in 2026 due to tough year-over-year comparisons but expects improvement as the year progresses [16][70] Q&A Session Summary Question: Volume decline in the Americas and inventory adjustments - Management indicated that up to half of the 10% volume decline in the Americas was due to inventory adjustments, particularly in beer and spirits [22][23] Question: Expanded savings target and energy headwind - The increase in the savings target to $750 million was not solely due to lower volumes but rather faster-than-expected savings execution [25][27] - The $150 million energy cost increase is expected to be a one-time adjustment due to expiring favorable contracts [26] Question: Volume outlook and exiting unprofitable business - The 2026 volume outlook includes efforts to exit unprofitable business, with an expected additional 1% movement in that direction [32][34] Question: Changes in go-to-market strategy - The company is revamping its go-to-market model to better leverage insights and improve sales performance [60][61] Question: European market dynamics and pricing - Management noted that while there is still some overcapacity in Europe, pricing has firmed up compared to the previous year [88][90] Question: Impact of the World Cup on volumes - The World Cup is seen as a potential upside, but current guidance does not fully account for event-specific impacts [102]