O-I Glass Shares Drop After Missing Earnings Estimates
Shares of O-I Glass (NYSE: OI) fell sharply on July 29, 2026 after the company reported disappointing second-quarter earnings. Revenue declined by 2% to $1.67 billion and adjusted EPS dropped from $0.53 to just $0.09 per share—well below expectations of $0.26. Management attributed poor performance in Europe to competitive pricing, high energy costs, operational disruptions due to restructuring, and a goodwill impairment charge of $873 million. O-I Glass also cut its full-year guidance for adjusted EBITDA from $1.125 billion–$1.225 billion down to $1 billion–$1.1 billion in 2026, with further reductions expected into 2027. Despite strong results in the Americas—where operating profit rose by 22% and margins improved—the company's struggles in Europe weighed heavily on investor sentiment. The stock was down nearly 17.4% at midday trading as investors reacted to weak earnings, reduced guidance, and ongoing operational challenges.
Topics: Earnings Report Operational Challenges Stock Performance