O-I Glass reported financial results for the first quarter ended March 31, 2025.
“O-I demonstrated strong performance in the first quarter of 2025, as our ‘Fit to Win’ strategy takes hold and we make significant progress towards becoming a more competitive and profitable company,” said Gordon Hardie, O-I Glass CEO. “While reported earnings were down from the prior year primarily due to restructuring actions, adjusted earnings surpassed our plan. Shipments increased across both the Americas and Europe and we achieved $61 million in Fit To Win benefits which exceeded our projections. This helped offset expected net price pressure and the impact of temporary production curtailments aimed at rebalancing inventory levels. Momentum is building, and we remain confident in achieving our savings targets of at least USD 250 million in 2025 and USD 650 million cumulatively by 2027.
“We are reaffirming our 2025 guidance and anticipate adjusted earnings will increase between 50 to 85 percent from 2024 levels. We have started the year strong, and we are successfully managing the elements within our control. This outlook may not fully reflect the potential impact of sustained elevated uncertainty across the value chain related to changing global trade policies.”
“Importantly, we remain focused on executing our long-term value creation roadmap. This will enhance our competitive position, enable profitable growth and create substantial shareholder value,” concluded Hardie.