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O-I Glass, Inc. (OI) CEO Andres Lopez on Q2 2021 Results - Earnings Call Transcript

Aug. 04, 2021 4:39 PM ETO-I Glass, Inc. (OI)
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O-I Glass, Inc. (NYSE:OI) Q2 2021 Earnings Conference Call August 4, 2021 8:00 AM ET

Company Participants

Chris Manuel - IR

Andres Lopez - CEO

John Haudrich - CFO

Conference Call Participants

Ghansham Panjabi - RW Baird

George Staphos - Bank of America

Mike Wilde - Bank of Montreal

Mike Leithead - Barclays

Adam Josephson - KeyBanc

Salvator Tiano - Seaport Global Securities

Kyle White - Deutsche Bank

Gabe Hajde - Wells Fargo

Lars Kjellberg - Credit Suisse

Alton Stump - Longbow Research

Arun Viswanathan - RBC Capital Markets


Good day, and thank you for standing by. Welcome to the O-I Glass Second Quarter 2021 Earnings Conference Call. [Operator Instructions] Please be advised that this conference is being recorded. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Chris Manuel, Vice President of Investor Relations. Please go ahead.

Chris Manuel

Thank you, Alissa, and welcome, everyone, to the O-I Glass 2Q '21 Earnings Call. Our discussion today will be led by Andres Lopez, our CEO; and John Haudrich, our CFO.

Today, we will discuss key business developments and review our financial results. Following prepared remarks, we'll host a Q&A session. Presentation materials for this earnings call are available on the company's website at o-i.com.

Please review the safe harbor comments and disclosure of our use of non-GAAP financial measures included in those materials.

I'd now like to turn the call over to Andres, who will start on Slide 3.

Andres Lopez

Good morning, everyone. We appreciate your interest in O-I Glass. We're very pleased with our performance during the second quarter. We reported adjusted earnings of $0.54 per share. Results exceeded our guidance range and reflected a stronger-than-expected shipment levels as well as favorable ongoing operating performance. We continue to see favorable performance across key business levers. Shipments improved 18% and production

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