O-I Glass Lowers FY24 Adjusted EPS Guidance to $1.00-$1.25 vs $1.69 Est. (Prior $1.50-$2.00), Lowers FY24 Free Cash Flow Guidance to $50M-$100M From Prior $100M-$150M
Portfolio Pulse from Benzinga Newsdesk
O-I Glass has lowered its FY24 adjusted EPS guidance to $1.00-$1.25 from the previous $1.50-$2.00, significantly below the estimated $1.69. Additionally, the company has reduced its FY24 free cash flow guidance to $50M-$100M from the prior $100M-$150M.
July 30, 2024 | 8:27 pm
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NEGATIVE IMPACT
O-I Glass has significantly lowered its FY24 adjusted EPS and free cash flow guidance, which is likely to negatively impact investor sentiment and the stock price in the short term.
The significant reduction in both adjusted EPS and free cash flow guidance indicates potential financial challenges for O-I Glass, which is likely to lead to negative investor sentiment and a decline in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100