O-I Glass Sees FY23 EPS ~$3.00 Vs 3.17 Est
Portfolio Pulse from Benzinga Newsdesk
O-I Glass has updated its FY23 earnings per share (EPS) outlook to approximately $3.00, exceeding its initial guidance of at least $2.50 per share provided in January. This represents a 30% increase from 2022 adjusted earnings. The company attributes this to strong net price, solid operating performance, and margin expansion initiatives. However, it expects lower sales and production volume and higher interest expense. The company also anticipates fourth quarter adjusted earnings to lag due to lower sales volume and elevated production curtailment activity.
October 31, 2023 | 8:26 pm
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O-I Glass has raised its FY23 EPS outlook to approximately $3.00, a 30% increase from 2022. However, it expects Q4 earnings to lag due to lower sales volume and elevated production curtailment activity.
The company's raised EPS outlook for FY23 indicates strong financial performance, which could positively impact the stock price. However, the expected lag in Q4 earnings due to lower sales volume and elevated production curtailment activity could create some uncertainty among investors, potentially limiting the stock's upside.
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