O-I Glass, Inc. /DE/ 8K

O-I Glass, Inc. reported a large Q2 2026 net loss driven by a significant European goodwill impairment and operational issues, and materially reduced its 2026 and 2027 financial guidance, especially for EBITDA, free cash flow, and leverage.

On July 28, 2026, O-I Glass, Inc. reported second quarter 2026 results showing net sales of $1.668 billion (down 2% year-over-year) and a net loss of $972 million, or $6.33 per share, driven largely by an $873 million non-cash goodwill impairment charge and a $96 million increase to deferred tax valuation allowances related to its European business. Adjusted diluted EPS was $0.09 versus $0.53 in the prior-year quarter, as strong Americas segment performance, where operating profit rose 22% to $165 million with margin expansion to 17.4%, was more than offset by a sharp deterioration in Europe, where segment operating profit fell to $6 million amid competitive pricing pressure, elevated energy costs, and operational disruptions from plant restructuring and furnace events. The company’s Fit to Win cost and efficiency program delivered $65 million of gross benefits ($50 million net) in the quarter and $115 million gross year-to-date, but execution challenges and disruptions led management to revise 2026 guidance to adjusted EBITDA of $1.0–$1.1 billion (from $1.125–$1.225 billion), free cash flow of a $50–$150 million use of cash (from a $50–$150 million source), and leverage at or slightly above 4x, and to reset its 2027 adjusted EBITDA target to $1.2–$1.3 billion (from $1.45 billion), while withdrawing adjusted EPS guidance due to a highly sensitive expected 2026 effective tax rate of 40–70%.

Filing Facts

CIK

812074

Ticker

-

Form

8K

Source Type

sec

Accession

0001104659-26-087559

Alert Tier

8