O-I Glass Sees Q3 EPS $0.68-$0.73 Vs $0.64 Est.; Q4 EPS $0.25-$0.35; FY23 EPS $3.10-$3.25 Vs $3.17 Est
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O-I Glass has updated its financial guidance for FY23, expecting adjusted earnings to be around $3.10 to $3.25 per share, with adjusted free cash flow of about $475 million. Q3 2023 adjusted earnings are expected to be $0.68 to $0.73 per share, reflecting strong net price and solid operating and cost performance. However, shipment levels are likely to be down due to softer consumer demand in several markets and categories, and higher costs due to temporary production curtailment and higher interest expense.
August 04, 2023 | 10:25 am
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O-I Glass has updated its FY23 guidance, expecting adjusted earnings to be around $3.10 to $3.25 per share, higher than the previous estimate. However, shipment levels are expected to be down due to softer consumer demand and higher costs, which could impact the company's performance.
The updated guidance from O-I Glass indicates a mixed outlook for the company. While the expected increase in adjusted earnings is a positive sign, the anticipated decrease in shipment levels due to softer consumer demand and higher costs could negatively impact the company's performance. This could lead to a neutral impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100