O-I Glass Shares Up 4 percent on Raised Q2 Guidance


O-I Glass, Inc. (NYSE:OI) shares closed more than 4% higher on Wednesday following the company’s announcement, according to which it now expects Q2 adjusted EPS to exceed $0.65, above the previous guidance range of $0.55–0.60.
The company indicated that Q2 is progressing better than expected due to more favorable operating performance and higher net price. Glass container shipments are up roughly 1% quarter-to-date through May, in line with previous guidance of low-single-digit growth.
The company kept its full-year 2022 guidance unchanged, expecting adjusted EPS in the range of $1.85–$2.10.


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