Benzinga | Oct 27, 2020 04:58PM EDT

O-I Glass: Q3 Earnings Insights

Shares of O-I Glass (NYSE:OI) were flat in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 24.07% year over year to $0.41, which beat the estimate of $0.28.

Revenue of $1,616,000,000 declined by 3.23% from the same period last year, which beat the estimate of $1,540,000,000.

Looking Ahead

O-I Glass hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Price Action

Company's 52-week high was at $15.64

52-week low: $4.30

Price action over last quarter: down 13.88%

Company Overview

O-I Glass is the world's largest manufacturer of glass bottles--70% of its revenue comes from outside the United States. O-I has a market- leading position in key markets like Europe, North America, and Brazil, among others. Beer is the primary end market for O-I's glass bottles, which are also used for wine, soda, spirits, condiments, and food. In the coming years, O-I is looking to maintain or expand its dominant positions in Europe, Australia/New Zealand, North America, and South America.