Owens-Illinois Q1 Profit Tops Estimate

(RTTNews) - Owens-Illinois, Inc. (OI), the world's largest glass container manufacturer, reported net income for the first quarter of $71 million or $0.44 per share, compared to $101 million or $0.61 per share for the year-ago quarter.

Net sales for the first quarter fell 13% to $1.42 billion from $1.64 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.42 per share on revenue of $1.42 billion for the first quarter.

The company said it now expects adjusted earnings for full year 2015 to be in the range of $2.00 to $2.30 per share, down from its prior range of $2.20 to $2.60 per share mainly because of currency assumptions as of March 31, 2015.