Financial Performance - Net sales for Q1 2024 were $1.6 billion, down from $1.8 billion in Q1 2023, reflecting a 12.5% decline in sales volume[2] - Net earnings attributable to the company were $0.45 per share (diluted) in Q1 2024, compared to $1.29 per share (diluted) in the prior year[8] - Earnings before income taxes decreased to $117 million in Q1 2024 from $270 million in Q1 2023, primarily due to lower segment operating profit and higher interest expense[3] - Segment operating profit was $235 million in Q1 2024, down from $398 million in the same period of 2023[4] - The ratio of earnings before income taxes to net sales for Q1 2024 was 7.3%, down from 14.7% in Q1 2023, indicating a decline in profitability[32] Guidance and Forecast - The company has revised its FY24 guidance, expecting sales volume growth to be flat to up low single digits, down from low to mid single-digit growth[9] - Adjusted earnings per share for FY24 are now projected to be between $1.50 and $2.00, reduced from the previous range of $2.25 to $2.65[11] - Free cash flow is expected to be between $100 million and $150 million, down from the prior estimate of $150 million to $200 million[11] - Free cash flow forecast for the year ending December 31, 2024 is projected to be between $100 million and $150 million, down from the prior forecast of $150 million to $200 million[39] Segment Performance - The Americas segment operating profit was $102 million, down from $176 million, reflecting a 15% decline in sales volume[12] - Segment operating profit for the Americas decreased to $102 million in Q1 2024 from $176 million in Q1 2023, a drop of 42.0%[36] Cash Flow and Assets - Cash utilized by continuing operating activities was $(270) million for Q1 2024, compared to $(193) million in Q1 2023, indicating an increase in cash outflow[29] - Cash and cash equivalents decreased to $395 million as of March 31, 2024, from $913 million at December 31, 2023, a decrease of 56.7%[27] - Total assets decreased to $9,409 million as of March 31, 2024, from $9,669 million at December 31, 2023, representing a decline of 2.68%[27] - Total current liabilities increased to $2,602 million as of March 31, 2024, from $2,346 million at December 31, 2023, an increase of 10.9%[27] Inventory and Tax - Inventories increased to $1,210 million as of March 31, 2024, from $1,071 million at December 31, 2023, an increase of 12.97%[27] - The effective tax rate for Q1 2024 was approximately 35%, compared to about 22% in Q1 2023, reflecting a shift in regional earnings mix[7] Future Developments - The first MAGMA greenfield plant is set to start up in summer 2024, which is expected to provide a significant competitive advantage[1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-9576 O-I GLASS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 22-2781933 (IRS Empl ...

O-I Glass, Inc. (NYSE:OI) Q4 2023 Results Conference Call February 7, 2024 8:00 AM ET Company Participants Chris Manuel - Vice President of Investor Relations Andres Lopez - President and Chief Executive Officer John Haudrich - Senior Vice President and Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird George Staphos - Bank of America Anthony Pettinari - Citi Gabe Hadji - Wells Fargo Mike Roxland - Truist Securities Arun Viswanathan - RBC Capital Operator Hello, everyone, and wel ...

Financial Performance - Net sales for Q3 2023 were $1,743 million, an increase of $50 million, or 3%, compared to Q3 2022, driven by higher prices and favorable foreign currency exchange rates [111][116]. - Segment operating profit for reportable segments in Q3 2023 was $301 million, an increase of $35 million, or approximately 13%, compared to Q3 2022, primarily due to higher net prices and margin expansion initiatives [122]. - Net earnings attributable to the Company in Q3 2023 were $51 million, or $0.32 per share, compared to $231 million, or $1.45 per share, in Q3 2022, reflecting a significant decrease [115]. - Net sales for the first nine months of 2023 increased by $301 million, or 6%, to $5,464 million compared to the same period in 2022 [133][139]. - Net earnings attributable to the Company for the third quarter of 2023 were $51 million, or $0.32 per share (diluted), down from $231 million, or $1.45 per share (diluted), in the third quarter of 2022 [132]. - Segment operating profit for reportable segments in the first nine months of 2023 was $1,025 million, an increase of $272 million, or approximately 36%, compared to the same period in 2022 [145]. - The Company recorded earnings before income taxes of $506 million in the first nine months of 2023, a decrease of $270 million from $776 million in the same period of 2022 [143]. - Net earnings attributable to the Company for the first nine months of 2023 were $367 million, or $2.31 per share, down from $571 million, or $3.59 per share, in the same period of 2022 [156]. Sales and Shipments - Glass container shipments declined approximately 15% in Q3 2023, resulting in a decrease in net sales of approximately $271 million compared to the same period in 2022 [116]. - In the Americas, net sales decreased by $39 million, or 4%, to $948 million in Q3 2023, primarily due to lower shipments and significant destocking activity [118]. - In Europe, net sales increased by $86 million, or 13%, to $766 million in Q3 2023, driven by higher selling prices and favorable foreign currency exchange rates [119]. - Glass container shipments declined approximately 11% in the first nine months of 2023, decreasing net sales by approximately $559 million compared to the same period in 2022 [139]. - In Europe, net sales increased by $275 million, or 13%, to $2,428 million in the first nine months of 2023 compared to the same period in 2022 [142]. Costs and Expenses - Earnings before income taxes were $82 million in Q3 2023, a decrease of $196 million compared to Q3 2022, attributed to higher interest expense and restructuring charges [120]. - The Company recorded a net interest expense increase of $15 million in Q3 2023, primarily due to higher interest rates [114]. - Net interest expense for the first nine months of 2023 increased by $88 million compared to the same period in 2022, primarily due to higher interest rates [137]. - The effective tax rate for the third quarter of 2023 was 31.7%, significantly higher than 15.5% in the same quarter of 2022 [131]. - The effective tax rate for the first nine months of 2023 was 25.1%, an increase from 21.1% in the same period of 2022, primarily due to unfavorable tax rates on restructuring charges [153]. Production and Capacity - The Company implemented temporary production curtailments to better match production with customer demand, which will result in higher operating costs for the remainder of 2023 [125]. - The Company plans to temporarily curtail approximately 20% of its global production in Q4 2023 to align inventory levels, which will lead to higher operating costs due to unabsorbed fixed costs [157]. - The Company plans to continue monitoring business trends and may consider further permanent capacity closures to align with demand trends [125]. Cash Flow and Financing - Cash provided by operating activities is expected to range between $800 million and $850 million for 2023, reflecting variability in sales and production volume [157]. - Cash provided by operating activities was $437 million for the nine months ended September 30, 2023, compared to a cash utilization of $224 million in the same period in 2022 [187]. - Working capital was a use of cash of $416 million in the first nine months of 2023, compared to a use of cash of $162 million in the same period in 2022 [188]. - Cash utilized in investing activities was $457 million for the nine months ended September 30, 2023, compared to $108 million of cash provided in the same period in 2022 [189]. - Capital spending for property, plant, and equipment was $465 million during the first nine months of 2023, compared to $346 million in the same period in 2022 [189]. - Cash provided by financing activities was $31 million for the nine months ended September 30, 2023, compared to $54 million of cash utilized in financing activities in the same period in 2022 [192]. - The Company anticipates that cash flows from operations and available credit will be sufficient to fund its operating and seasonal working capital needs, debt service, and other obligations [194]. - The Company has $1.24 billion in unused credit available under its Credit Agreement as of September 30, 2023, with a weighted average interest rate of 6.84% on outstanding borrowings [172]. Strategic Initiatives and Risks - The Company is actively reviewing its remaining businesses in the former Asia Pacific region to explore options for maximizing shareholder value, which may lead to divestitures or corporate transactions [161]. - The ongoing conflict between Russia and Ukraine may impact the Company's operations, particularly regarding energy supply agreements and costs [159]. - The current conflict between Russia and Ukraine has caused significant increases in natural gas prices and price volatility, impacting the Company's European operations [150]. - The Company faces various risks that may impact future financial performance, including geopolitical tensions, supply chain disruptions, and inflationary pressures [199]. - The ongoing Ukraine-Russia and Israel-Hamas conflicts are affecting the cost and availability of raw materials, labor, and transportation [199]. - The Company is evaluating its strategic plan to navigate market uncertainties and achieve growth objectives [199]. - The Company is focused on improving its glass melting technology through the MAGMA program, which is critical for operational efficiency [199]. - There is a risk of unanticipated operational disruptions, including higher capital spending, which could affect financial outcomes [199]. - The Company must manage its cost structure effectively to achieve operational efficiency and working capital management [199]. - Future cash flow generation is essential to ensure that the Company's goodwill remains intact [199]. Compliance and Governance - As of September 30, 2023, the Company was in compliance with all covenants and restrictions in the Credit Agreement [175]. - The Company believes it will remain in compliance with the Credit Agreement for its term [175]. - The Company is subject to increased scrutiny regarding environmental, social, and governance (ESG) factors, which may impact operations [199]. - There have been no material changes in market risk as of September 30, 2023, compared to the previous year [202]. - Forward-looking statements are based on assumptions that may not guarantee future performance, highlighting the need for cautious optimism [201].

O-I Glass, Inc. (NYSE:OI) Q3 2023 Results Conference Call November 1, 2023 8:00 AM ET Company Participants Chris Manuel - Vice President of Investor Relations Andres Lopez - President and Chief Executive Officer John Haudrich - Senior Vice President and Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird George Staphos - Bank of America Mike Roxland - Truist Securities Arun Viswanathan - RBC Capital Markets Gabe Hadji - Wells Fargo Securities Roger Schmitz - Bank of America Operato ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-9576 O-I GLASS, INC. (Exact name of registrant as specified in its charter) Delaware 22-2781933 (State or other jurisdiction of (IR ...

Higher Net Price Margin Expansion Initiative Benefits Strong Operating and Cost Performance Portfolio Optimization / Mix Management Balance Sheet Improvement IMPROVING SEGMENT OPERATING PROFIT MARGINS Mid-Teens Global Margins in 2023 High-Teens Global Margins Over Time – EU: Stable at 20%+ Segment Op Profit Margins – AM: Improving From Low-teens to Mid-teens Segment Op Profit Margins 9 CAPITAL ALLOCATION PRIORITIES Focused on Maximizing Stakeholder Value IMPROVE CAPITAL STRUCTURE ▲ < 3.0x leverage (2023) ▲ ...

O-I Glass, Inc. (NYSE:OI) Q2 2023 Earnings Conference Call August 2, 2023 8:00 AM ET Company Participants Chris Manuel - Vice President of Investor Relations Andres Lopez - Chief Executive Officer John Haudrich - Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird George Staphos - Bank of America Anthony Pettinari - Citi Mike Roxland - Truist Securities Arun Viswanathan - RBC Capital David Page - Wells Fargo Security George Staphos - Bank of America Operator Good morning, and welco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-9576 O-I GLASS, INC. (Exact name of registrant as specified in its charter) Delaware 22-2781933 (State or other jurisdiction of (I ...

O-I Glass, Inc. (NYSE:OI) Q1 2023 Earnings Conference Call April 26, 2023 8:00 AM ET Company Participants Chris Manuel - Vice President of Investor Relations Andres Lopez - Chief Executive Officer John Haudrich - Chief Financial Officer Conference Call Participants George Staphos - Bank of America Anthony Pettinari - Citi Ghansham Panjabi - Baird Gabe Hajde - Wells Fargo Arun Viswanathan - RBC Capital Markets Mike Roxland - Truist Securities Mike Leithead - Barclays Operator Hello, and welcome to the O-I Gl ...