O-I Glass, Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - O-I Glass, Inc. (OI) reported a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $110 million, or $0.69 per share. This compares with $252 million, or $1.59 per share, in last year's second quarter.

Excluding items, O-I Glass, Inc. reported adjusted earnings of $140 million or $0.88 per share for the period.

Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.6% to $1.89 billion from $1.79 billion last year.

O-I Glass, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $110 Mln. vs. $252 Mln. last year. -EPS (Q2): $0.69 vs. $1.59 last year. -Analyst Estimates: $0.83 -Revenue (Q2): $1.89 Bln vs. $1.79 Bln last year.