Owens-Illinois Inc: Attractive Risk/Reward With 20% Upside
May 13, 2015, 7:48 AM
- Owens-Illinois (NYSE:OI) agrees to acquire Vitro’s food and beverage glass container business for $2.15B in a move that will allow OI to expand in the growing market for food packaging in Mexico.
- OI expects the deal to add $0.50 to EPS in the third year after closing and to generate $945M/year in revenue; the deal is expected to close within a year.
- OI will add Vitro’s five Mexican factories and one in Bolivia, and retain the leadership of the company’s food-and-beverage operations.
- OI +2.7% premarket.
Apr. 28, 2015, 4:46 PM
- Owens Illinois (NYSE:OI): Q1 EPS of $0.44 beats by $0.02.
- Revenue of $1.42B (-13.4% Y/Y) in-line.
- Shares -0.97%.
Apr. 6, 2015, 3:56 PM
- Owens-Illinois (OI +2.1%) enjoys a nice gain after a Barron's weekend profile says shares could climb 25%, as the world’s largest maker of glass containers has cleaned up its balance sheet and is cutting costs.
- Weak demand in a few key markets, operating stumbles and a strong dollar have hurt OI's profits in the past year, sending shares tumbling nearly 35% since July, but Barron's notes that OI's manufacturing network of 76 plants in 21 countries would be hard to replicate.
- OI has been working to improve operations and boost its generation of free cash flow, which topped $300M in each of the past two years and is expected to hit $300M again this year; while the article says investors should not expect much in the way of revenue growth, a leaner cost structure and shareholder friendly uses for its cash could pay off in a higher stock price.
Mar. 19, 2015, 11:59 AM
- Owens-Illinois (OI -2.2%) says CFO Stephen P. Bramlage Jr. will leave the company at the end of this month to become the CFO at Aramark (ARMK -0.6%).
- Bramlage will succeed current ARMK CEO Fred Sutherland, who is retiring at the end of this year after nearly 35 years at the company including 17 years as finance chief; Bramlage was named OI CFO in 2012 after holding various financial and managerial posts with the company.
- Current controller John Haudrichwill will become OI's CFO on an interim basis while a search is conducted for a successor.
Mar. 12, 2015, 11:46 AM
- Owens-Illinois (OI +0.1%) says it was awarded $455M by an international arbitration panel related to Venezuela’s seizure of two of its plants in 2010.
- OI says the arbitration panel so far is unable to estimate how much it actually will receive under the award and when it will be compensated.
- OI had operated in the country for more than 50 years before Hugo Chavez nationalized its majority interest in the plants in a move typical of his 14-year rule.
Feb. 2, 2015, 4:26 PM
- Owens Illinois (NYSE:OI): Q4 EPS of $0.46 in-line.
- Revenue of $1.6B (-9.1% Y/Y) misses by $50M.
Feb. 1, 2015, 5:35 PM
Nov. 27, 2014, 5:11 AM
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Oct. 28, 2014, 5:27 PM
- Owens Illinois (NYSE:OI): EPS of $0.75 beats by $0.01.
- Revenue of $1.75B (-1.7% Y/Y) misses by $20M.
- Shares -1.77% AH.
Oct. 27, 2014, 5:35 PM
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Sep. 17, 2014, 8:37 AM
- Owens-Illinois (NYSE:OI) -4.7% premarket after disclosing expectations for lower Q3 earnings, seeing EPS of at least 5% lower Y/Y, or ~$0.75 vs. $0.88 analyst consensus estimate.
- OI sees Europe sales volume modestly lower than the prior-year period, North American sales volume down by the low single digits, and Asia Pacific with a double-digit volume decline.
Sep. 4, 2014, 7:34 AM
Jul. 30, 2014, 6:30 PM
- Owens Illinois (NYSE:OI): Q2 EPS of $0.80 misses by $0.02.
- Revenue of $1.8B (+1.1% Y/Y)
Apr. 29, 2014, 4:30 PM
- Owens Illinois Inc. (OI): Q1 EPS of $0.62 beats by $0.01.
- Revenue of $1.64B (flat Y/Y) beats by $30M.
Apr. 28, 2014, 5:35 PM
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Jan. 28, 2014, 5:26 PM
- Owens Illinois Inc. (OI): Q4 EPS of $0.51 misses by $0.02.
- Revenue of $1.76B (+0.6% Y/Y) misses by $20M.
Owens-Illinois, Inc. produces glass containers for beverages, spirits and wine. The company also produces glass packaging for a variety of food items, soft drinks, teas, juices and pharmaceuticals. It manufactures glass containers in a wide range of sizes, shapes and colors. The company operates... More
Sector: Consumer Goods
Industry: Packaging & Containers
Country: United States
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