Owens-Illinois, Inc., through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals. It offers glass containers in a range of sizes, shapes, and colors. The company sells its products directly to customers under annual or multi-year supply agreements, as well as through distributors. Owens-Illinois, Inc. was founded in 1903 and is headquartered in Perrysburg, Ohio.
Owens-Illinois beats 3Q profit forecasts PERRYSBURG, Ohio (AP) _ Owens-Illinois Inc. (OI) on Tuesday reported third-quarter earnings of $108 million. On a per-share basis, the Perrysburg, Ohio-based company said it had profit of 66 cents. Earnings, adjusted to account for discontinued operations, were 68 cents per share. The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share. The glass container manufacturer posted revenue of $1.71 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.73 billion. Owens-Illinois expects full-year earnings in the range of $2.27 to $2.32 per share. Owens-Illinois shares have fallen slightly more than 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 5 percent. In the final minutes of trading on Tuesday, shares hit $17, a drop of 27 percent in the last 12 months.
