Owens Illinois Inc. Announces 26% Fall In Q3 Earnings

(RTTNews) - Owens Illinois Inc. (OI) reported a profit for third quarter that lost ground from last year.

The company said its bottom line came in at $92 million, or $0.57 per share. This was lower than $124 million, or $0.75 per share, in last year's third quarter.

Analysts had expected the company to earn $0.55 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.8% to $1.57 billion. This was down from $1.74 billion last year.

Owens Illinois Inc. earnings at a glance:

-Earnings (Q3): $92 Mln. vs. $124 Mln. last year. -Earnings Decline (Y-o-Y): -25.8% -EPS (Q3): $0.57 vs. $0.75 last year. -EPS Decline (Y-o-Y): -24.0% -Analysts Estimate: $0.55 -Revenue (Q3): $1.57 Bln vs. $1.74 Bln last year. -Revenue Change (Y-o-Y): -9.8%