O-I Glass, Inc. Q2 Profit Decreases, But Beats Estimates

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

The company's earnings came in at $57 million, or $0.36 per share. This compares with $110 million, or $0.69 per share, in last year's second quarter.

Excluding items, O-I Glass, Inc. reported adjusted earnings of $69 million or $0.44 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.5% to $1.729 billion from $1.890 billion last year.

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

-Earnings (Q2): $57 Mln. vs. $110 Mln. last year. -EPS (Q2): $0.36 vs. $0.69 last year. -Revenue (Q2): $1.729 Bln vs. $1.890 Bln last year.

-Guidance: Full year EPS guidance: $1-$1.25