O-I Glass shares are trading lower after the company reported worse-than-expected Q1 sales results and cut FY24 adjusted EPS guidance.
Portfolio Pulse from Benzinga Newsdesk
O-I Glass shares declined following the announcement of disappointing Q1 sales results and a reduction in the forecast for FY24 adjusted EPS.
May 01, 2024 | 10:07 am
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O-I Glass reported lower than expected Q1 sales and reduced its FY24 adjusted EPS guidance, leading to a decline in its share price.
The announcement of worse-than-expected Q1 sales results and a downward revision in FY24 adjusted EPS guidance directly impacts investor sentiment and the valuation of O-I Glass. This typically leads to a negative short-term price movement as investors adjust their expectations based on the new financial outlook.
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