O-I Glass, Inc. Q3 Profit Increases, beats estimates

(RTTNews) - O-I Glass, Inc. (OI) revealed a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $231 million, or $1.45 per share. This compares with $85 million, or $0.53 per share, in last year's third quarter.

Excluding items, O-I Glass, Inc. reported adjusted earnings of $101 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $1.69 billion from $1.61 billion last year.

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

-Earnings (Q3): $231 Mln. vs. $85 Mln. last year. -EPS (Q3): $1.45 vs. $0.53 last year. -Analyst Estimate: $0.60 -Revenue (Q3): $1.69 Bln vs. $1.61 Bln last year.

-Guidance: Next quarter EPS guidance: $0.28 and $0.33 Full year EPS guidance: $2.20 and $2.25