O-I Glass, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: OI · Form: 10-Q · Filed: May 1, 2024 · CIK: 812074
| Field | Detail |
|---|---|
| Company | O-I Glass, Inc. /De/ (OI) |
| Form Type | 10-Q |
| Filed Date | May 1, 2024 |
| Risk Level | |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, O-I Glass, Financials, Q1 2024, Glass Containers
TL;DR
<b>O-I Glass, Inc. (OI) filed its Q1 2024 10-Q, detailing financial positions and segment performance.</b>
AI Summary
O-I Glass, Inc. /DE/ (OI) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. O-I Glass, Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key financial statement elements such as Retained Earnings, Common Stock, and Additional Paid-In Capital are detailed as of March 31, 2024, and prior periods. The company's operating segments, Americas and Europe, are specified for the reporting period. Information regarding commodity forward contracts and collars designated as hedging instruments is included for the reporting period and prior year.
Why It Matters
For investors and stakeholders tracking O-I Glass, Inc. /DE/, this filing contains several important signals. This 10-Q provides investors with the latest financial snapshot of O-I Glass, Inc., including its asset and equity structure as of the end of Q1 2024. The filing's segment data for Americas and Europe allows for analysis of regional performance within the glass container industry.
Risk Assessment
Risk Level: — O-I Glass, Inc. /DE/ shows moderate risk based on this filing. The filing is a standard quarterly report, but the nature of the glass container industry can be subject to economic fluctuations and commodity price volatility, which are not detailed in this summary.
Analyst Insight
Monitor O-I Glass's upcoming earnings reports and investor calls for insights into the performance of its Americas and Europe segments and any commentary on commodity price impacts.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Europe | ||
| Americas | ||
| Nonalcoholic Beverage - Europe | ||
| Nonalcoholic Beverage - Americas |
Key Numbers
- 2024-03-31 — Reporting Period End Date (The 10-Q covers the quarterly period ended on this date.)
- 2024-05-01 — Filing Date (The date the 10-Q was filed with the SEC.)
Key Players & Entities
- O-I Glass, Inc. (company) — Filer of the 10-Q report.
- 2024-03-31 (date) — End of the reporting period for the 10-Q.
- 2024-05-01 (date) — Filing date of the 10-Q.
- Americas (segment) — One of the company's operating segments.
- Europe (segment) — One of the company's operating segments.
FAQ
When did O-I Glass, Inc. /DE/ file this 10-Q?
O-I Glass, Inc. /DE/ filed this Quarterly Report (10-Q) with the SEC on May 1, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by O-I Glass, Inc. /DE/ (OI).
Where can I read the original 10-Q filing from O-I Glass, Inc. /DE/?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by O-I Glass, Inc. /DE/.
What are the key takeaways from O-I Glass, Inc. /DE/'s 10-Q?
O-I Glass, Inc. /DE/ filed this 10-Q on May 1, 2024. Key takeaways: O-I Glass, Inc. filed its 10-Q report for the quarterly period ended March 31, 2024.. The filing covers the period from January 1, 2024, to March 31, 2024.. Key financial statement elements such as Retained Earnings, Common Stock, and Additional Paid-In Capital are detailed as of March 31, 2024, and prior periods..
Is O-I Glass, Inc. /DE/ a risky investment based on this filing?
Based on this 10-Q, O-I Glass, Inc. /DE/ presents a moderate-risk profile. The filing is a standard quarterly report, but the nature of the glass container industry can be subject to economic fluctuations and commodity price volatility, which are not detailed in this summary.
What should investors do after reading O-I Glass, Inc. /DE/'s 10-Q?
Monitor O-I Glass's upcoming earnings reports and investor calls for insights into the performance of its Americas and Europe segments and any commentary on commodity price impacts. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q filing.
- 2024-05-01: Filing Date — The date the 10-Q was officially submitted to the SEC.
Filing Stats: 4,708 words · 19 min read · ~16 pages · Grade level 14.5 · Accepted 2024-05-01 16:30:55
Filing Documents
- oi-20240331x10q.htm (10-Q) — 1632KB
- oi-20240331xex10d1.htm (EX-10.1) — 84KB
- oi-20240331xex10d2.htm (EX-10.2) — 72KB
- oi-20240331xex31d1.htm (EX-31.1) — 17KB
- oi-20240331xex31d2.htm (EX-31.2) — 16KB
- oi-20240331xex32d1.htm (EX-32.1) — 7KB
- oi-20240331xex32d2.htm (EX-32.2) — 7KB
- oi-20240331x10q001.jpg (GRAPHIC) — 3KB
- 0001558370-24-006397.txt ( ) — 8547KB
- oi-20240331.xsd (EX-101.SCH) — 39KB
- oi-20240331_cal.xml (EX-101.CAL) — 44KB
- oi-20240331_def.xml (EX-101.DEF) — 168KB
- oi-20240331_lab.xml (EX-101.LAB) — 366KB
- oi-20240331_pre.xml (EX-101.PRE) — 264KB
- oi-20240331x10q_htm.xml (XML) — 2065KB
— FINANCIAL INFORMATION
Part I — FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. The Condensed Consolidated Financial Statements of O-I Glass, Inc. (the "Company") presented herein are unaudited but, in the opinion of management, reflect all adjustments necessary to present fairly such information for the periods and at the dates indicated. All adjustments are of a normal recurring nature. Because the following unaudited Condensed Consolidated Financial Statements have been prepared in accordance with Article 10 of Regulation S-X, they do not contain all information and footnotes normally contained in annual consolidated financial statements; accordingly, they should be read in conjunction with the Consolidated Financial Statements and notes thereto appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. 1 O-I GLASS, INC. CONDENSED CONSOLIDATED RESULTS OF OPERATIONS (Dollars in millions, except per share amounts) (Unaudited) Three months ended March 31, 2024 2023 Net sales $ 1,593 $ 1,831 Cost of goods sold ( 1,275 ) ( 1,347 ) Gross profit 318 484 Selling and administrative expense ( 123 ) ( 147 ) Research, development and engineering expense ( 21 ) ( 19 ) Interest expense, net ( 78 ) ( 68 ) Equity earnings 25 30 Other expense, net ( 4 ) ( 10 ) Earnings before income taxes 117 270 Provision for income taxes ( 41 ) ( 60 ) Net earnings 76 210 Net earnings attributable to non-controlling interests ( 4 ) ( 4 ) Net earnings attributable to the Company $ 72 $ 206 Basic earnings per share: Net earnings attributable to the Company $ 0.46 $ 1.33 Weighted average shares outstanding (thousands) 154,273 154,696 Diluted earnings per share: Net earnings attributable to the Company $ 0.45 $ 1.29 Weighted average diluted shares outstanding (thousands) 158,467 159,094 See accompanying notes. 2 O-I GLASS, INC. CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (Dollars in millions) (Unaudited) Three