O-I Glass Inc
NYSE:OI
O-I Glass Inc
O-I Glass Inc., once a humble glass bottle manufacturer founded in the early 20th century, has evolved into a titan in the glass container industry, now serving as a key player in global packaging solutions. The company's business operations revolve around producing glass containers for a range of industries, including food, beverage, pharmaceutical, and cosmetics. At its core, O-I Glass capitalizes on the enduring qualities of glass—its sustainability, versatility, and aesthetic appeal. By continuously refining its manufacturing processes, the company ensures the production of high-quality, customizable containers that meet the unique needs of its diverse clientele.
Headquartered in Perrysburg, Ohio, O-I Glass generates revenue through intricate, large-scale manufacturing and efficient distribution channels. The company owns a vast network of manufacturing facilities strategically located across the globe, enabling it to serve key markets and reduce logistical costs. Its innovative approach to glass production not only maximizes economies of scale but also emphasizes sustainability. By promoting closed-loop, circular economies where glass is recycled and reused, O-I Glass aligns itself with the increasing demand for environmental responsibility. This commitment to both product excellence and environmental stewardship positions O-I Glass as a leader in an industry where tradition meets modernity.
O-I Glass Inc., once a humble glass bottle manufacturer founded in the early 20th century, has evolved into a titan in the glass container industry, now serving as a key player in global packaging solutions. The company's business operations revolve around producing glass containers for a range of industries, including food, beverage, pharmaceutical, and cosmetics. At its core, O-I Glass capitalizes on the enduring qualities of glass—its sustainability, versatility, and aesthetic appeal. By continuously refining its manufacturing processes, the company ensures the production of high-quality, customizable containers that meet the unique needs of its diverse clientele.
Headquartered in Perrysburg, Ohio, O-I Glass generates revenue through intricate, large-scale manufacturing and efficient distribution channels. The company owns a vast network of manufacturing facilities strategically located across the globe, enabling it to serve key markets and reduce logistical costs. Its innovative approach to glass production not only maximizes economies of scale but also emphasizes sustainability. By promoting closed-loop, circular economies where glass is recycled and reused, O-I Glass aligns itself with the increasing demand for environmental responsibility. This commitment to both product excellence and environmental stewardship positions O-I Glass as a leader in an industry where tradition meets modernity.
Adjusted EPS: Full year adjusted earnings reached $1.60 per share, nearly doubling from 2024 and in line with upgraded guidance.
Free Cash Flow: Free cash flow rebounded to $168 million, an improvement of about $300 million year-over-year.
Cost Savings: The Fit to Win program delivered $300 million in 2025 cost savings, beating the original target, and the three-year savings target was raised to $750 million.
Margins & Profit: Adjusted EBITDA rose 11% and margins expanded by 220 basis points; segment operating profit jumped 30% in Q4.
Volume Trends: Shipments were down 2.5%, with flat average selling prices; volume declines were managed by shifting to higher-margin products and exiting unprofitable business.
2026 Outlook: Management expects stable to slightly higher sales, adjusted EBITDA of $1.25–$1.3 billion, and adjusted EPS of $1.65–$1.90, with Fit to Win delivering at least $275 million more in savings.
Leverage: Leverage improved to 3.5x, with a goal of 2.5x by year-end 2027.
Market Conditions: Challenging end markets and high inventories persist, but management sees progress in portfolio quality and cost discipline.
