O-I reports first quarter 2018 results

  Company financial news

In its first quarter 2018 results, O-I reported higher earnings, within guidance, on sales growth and margin expansion in the Americas and Europe.

O-I has reported financial results for the first quarter
Owens-Illinois, Inc. reported financial results for the first quarter ended 31 March 2018 on 23 April.
"This quarter marks the company's ninth consecutive quarter of higher earnings year-over-year," said Andres Lopez, CEO. "We delivered strong performance in-line with our guidance, while executing the planned, finite investments in asset stability. This reflects our focus and commitment to delivering on our strategic initiatives, including programmes aimed at improving the customer experience, shifting to higher-value segments, becoming more cost-competitive, leveraging technology and simplifying our organization."
"Our European and Americas regions delivered particularly strong sales and margin expansion in the first quarter. We continue to be positive about our 2018 outlook," said Lopez. "Our teams are aligned and energized like never before, executing with rigor and discipline. This, combined with our balanced capital allocation strategy, is expected to create significant value for our shareholders for years to come."
For the first quarter 2018, the company recorded earnings from continuing operations of USD 0.59 per share (diluted). This was on the upper end of management guidance of USD 0.55 to USD 0.60 per share. 
Net sales were USD 1.7 billion, an increase of nearly 8% compared to the prior year, due to higher prices and favourable currency translation. Total glass container shipments in the first quarter of 2018 were comparable to the prior year quarter, with...
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