Core Insights - O-I Glass, Inc. has published its 2024 Sustainability Report Update, showcasing significant progress towards its sustainability goals through innovation and transformation [1][5]. Sustainability Achievements - The company has achieved conservation of over 24,000 tons of glass and 13,000 tons of CO2 through lightweighting efforts [2][7]. - More than 100 energy reduction projects have led to the elimination of nearly 35,000 tons of CO2 emissions [2][7]. - O-I has established 35 glass packaging collection sites to enhance glass recycling in nine North American communities, including four Glass4GoodTM program sites that have collected 688 tons of glass and donated over $26,100 to United Way [3]. Process Innovations - O-I attributes its sustainability success to process innovations that lower carbon outcomes, implementing alternative fuel sources and innovative technologies [4][7]. - The company has reported a nearly 20% reduction in scope 1 & 2 emissions since the 2017 base year, driven by its climate strategy [7]. Investment in Innovation - Recent investments include a new facility in Bowling Green, Kentucky, for the proprietary MAGMA technology, and a €50 million ($54.12 million) investment in Vayres, France, for gas-oxy combustion technology and heat recovery systems [8]. - The company has also initiated operations of a newly built GOAT (Gas Oxy Advancement Technology) furnace in Zipaquira, Colombia [8]. Company Overview - O-I Glass is a leading global producer of glass bottles and jars, with revenues of $7.1 billion in 2023 and a workforce of approximately 23,000 across 68 plants in 19 countries [6].

By strategically charging and discharging the battery based on grid conditions, GridBeyond's AI-powered system helps to stabilize the local electricity grid during peak periods, increases O-I's resilience against brownouts, and improves the grid's efficiency and sustainability. It allows charging during times of high renewable energy availability and discharging energy to the site at peak hours of demand. With this approach, O-I is projected to conserve up to 240 tons of CO2 emissions annually at the Alloa ...

PERRYSBURG, OH/ALLOA, UK, June 25, 2024 (GLOBE NEWSWIRE) -- - O-I Glass, Inc. ("O-I Glass" or "O-I") and GridBeyond plan to implement a groundbreaking battery storage solution at O-I's Alloa, UK facility. The innovative 8MW battery system and supporting energy management system (EMS) leverages artificial intelligence to significantly enhance energy efficiency, resilience and sustainability. By strategically charging and discharging the battery based on grid conditions, GridBeyond's AI-powered system helps t ...

O-I Glass, Inc. (OI) announced its plans to invest around $65 million in the electrification and decarbonization of its plant in Veauche, France. The move aligns with O-I Glass's sustainability efforts and its previously announced investment in plant renovations. The company intends to simultaneously implement a heat recovery system that will reduce carbon emissions in the plant. O-I Glass reported first-quarter 2024 earnings per share of 45 cents, which beat the Zacks Consensus Estimate of 36 cents. On a y ...

Company Overview - O-I Glass, Inc. is a leading global producer of glass bottles and jars, emphasizing the sustainability and recyclability of glass as a packaging material [4] - The company is headquartered in Perrysburg, Ohio, and employs approximately 23,000 people across 68 plants in 19 countries, achieving revenues of $7.1 billion in 2023 [4] Sustainability Initiatives - O-I plans to invest approximately $65 million in the electrification and decarbonization of its Veauche, France plant, which will be the first to utilize hybrid-flex technology [13] - The hybrid-flex technology allows for the replacement of up to 70% of conventional fossil-fuel-based energy with electricity, leading to a projected 43% reduction in onsite CO2 emissions compared to traditional furnaces [13][10] - The Veauche plant is expected to reduce its overall CO2 emissions by up to 35% compared to pre-2020 levels once the new investments are completed by December 2025 [11] Technological Advancements - The new hybrid furnace will feature a heat recovery system that will supply up to 94% of the plant's heating needs, enhancing energy efficiency [11] - The plant produces approximately 300 million bottles annually and leverages up to 87% recycled glass sourced locally, supporting a circular economy [15] Market Position - O-I Glass is recognized as a preferred partner for many leading food and beverage brands, focusing on innovation to meet customer needs [4] - The company aims to achieve a global target of a 25% reduction in greenhouse gas emissions by 2030 through its sustainability efforts [13]

14-month data show treatment with setrusumab resulted in a large, sustained 67% reduction in annualized fracture rate and persistent median annualized fracture rate of 0.00 (p=0.0014) Treatment resulted in continued, substantial improvements in bone mineral density (BMD) with a mean increase from baseline of 22% (p<0.0001) and a mean improvement in Z-score of +1.25 (p<0.0001) NOVATO, Calif. and LONDON, June 11, 2024 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) and Mereo BioPharma Group ...

Core Viewpoint - O-I Glass (OI) has been experiencing a decline in volumes for eight consecutive quarters, primarily due to inventory destocking, weak consumer demand in certain markets, and elevated macroeconomic pressures [1][7]. Financial Performance - The Zacks Consensus Estimate for O-I Glass's 2024 earnings has been revised downward by 11% in the past 30 days, now projected at $1.67 per share, indicating a 46% year-over-year decline [2]. - O-I Glass reported first-quarter 2024 revenues of $1.59 billion, down 13% from the previous year, attributed to lower volumes and weak consumer demand [12]. - Earnings per share for the first quarter were 45 cents, marking a 65% decline from the year-ago quarter due to lower revenues and higher interest expenses [12]. Volume Trends - The decline in volumes began with a 0.1% dip in Q2 2022, worsening to a 17% drop in Q4 2023 and a 13% decline in Q1 2024 [3][12]. - The company anticipates a slight recovery in volumes for 2024, with sales volume guidance projected to be flat to up in the low-single digits [13]. Market Position - O-I Glass has a market capitalization of $1.85 billion and currently holds a Zacks Rank 5 (Strong Sell) [4]. - The company's shares have lost 43.9% over the past year, compared to a 38.7% decline in the industry [11]. Future Outlook - O-I Glass has increased production curtailment activities to reduce inventory and position itself for a potential market recovery in 2024 [13]. - Adjusted earnings are expected to be in the range of $1.50-$2.00 per share, down from a previous range of $2.25-$2.65 [8].

Transformative mobile equipment brings glass recycling solutions to untapped markets Movable on a truck bed, the modular system enables full-service, closed-loop recycling programs A single system can process up to 6,000 MT in a year "MOGRA builds on the long tradition of innovating the sustainable capabilities of glass packaging by enabling O-I to deploy full-service, closed-loop recycling programs with our customers and local communities, while generating furnace-ready cullet for producing glass packaging ...

Transformative mobile equipment brings glass recycling solutions to untapped markets Movable on a truck bed, the modular system enables full-service, closed-loop recycling programs A single system can process up to 6,000 MT in a year Perrysburg, Ohio, June 06, 2024 (GLOBE NEWSWIRE) -- O-I Glass, Inc. ("O-I Glass" or "O-I" has completed the development and testing of a transformative, low-cost mobile glass processing machine that is easily transported and deployed to clean and crush recycled glass to be used ...

A month has gone by since the last earnings report for O-I Glass (OI) . Shares have added about 0.2% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is O-I Glass due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. O-I Glass Beats Q1 Earnings Estimates, Lowers '24 Outl ...