O-I Glass Q1 2024 GAAP EPS $0.45 Beats $0.38 Estimate, Sales $1.600B Miss $1.698B Estimate
Portfolio Pulse from Benzinga Newsdesk
O-I Glass reported Q1 2024 earnings of $0.45 per share, surpassing the $0.38 estimate, but its sales of $1.600B fell short of the $1.698B estimate, marking a 12.62% decrease from the previous year.
April 30, 2024 | 8:22 pm
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O-I Glass's Q1 2024 earnings surpassed estimates with an EPS of $0.45, but sales missed expectations, totaling $1.600B against a $1.698B forecast.
The positive earnings surprise could provide a short-term boost to O-I Glass's stock price due to the beat on EPS estimates. However, the miss on sales forecasts and the significant year-over-year sales decline might temper investor enthusiasm, leading to a neutral overall impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100