O-I Glass (OI) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 30, 2026 astatine 10:06 AM CDT 39 min read

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DATE

Wednesday, April 29, 2026 astatine 8 a.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer — Gordon Hardie

• Chief Financial Officer — John Haudrich

• Vice President, Investor Relations — Christopher Manuel

Full Conference Call Transcript

Gordon Hardie: Good morning, everyone, and convey you for joining us. Today, we volition reappraisal our archetypal 4th results, what we are seeing crossed the concern and our outlook for the year. Before I begin, I privation to convey each our O-I colleagues crossed the satellite for their focus, execution and committedness to supporting our customers successful a pugnacious environment. The twelvemonth got disconnected to a challenging start. While the apical enactment held steady, request was sluggish aboriginal successful the 4th earlier improving done March. We besides experienced elevated commercialized pressures successful Europe and respective onetime outer events that accrued our costs. As a result, archetypal 4th adjusted net of $0.05 per stock came successful beneath our archetypal expectations.

Fit to Win continues to present and the disciplines are present embedded crossed the organization. We are seeing the benefits of a stronger outgo presumption reflected successful caller concern wins crossed cardinal categories that should enactment higher volumes starting successful the 2nd fractional of the year. Operationally, it was a communicative of 2 hemispheres. In the Americas, net were unchangeable contempt respective outer disruptions. In Europe, results fell abbreviated of expectations amid elevated competitory pressure. Europe is besides earlier successful the Fit to Win travel than the Americas, and we expect show to amended successful the coming quarters arsenic we execute the restructuring actions we person announced. Looking to the afloat year, we expect beardown year-over-year betterment successful the Americas.

Yet we person an updated -- we person updated our 2026 guidance to bespeak a much challenging European market, compounded by elevated vigor ostentation and broader macro dynamics. John volition locomotion you done the updated outlook successful much item successful a fewer moments. Even with the near-term uncertainty, our strategy and priorities are unchanged. With continued Fit to Win execution and caller concern wins, we are assured we tin fortify results arsenic the twelvemonth progresses and expect to physique momentum into '27 and beyond. We stay laser-focused connected our investments -- Investor Day objectives, and we judge galore of today's headwinds are temporary. Let's present crook to Slide 4 to sermon our apical enactment show and measurement trends.

As you tin see, nett income person remained dependable implicit the past respective quarters, adjacent amid ongoing volatility and uncertainty. That said, we got disconnected to a dilatory commencement this twelvemonth with archetypal 4th shipments down astir 8% versus the anterior year. This examination was besides tougher arsenic past twelvemonth apt benefited from lawsuit prebuys up of a caller U.S. tariff regime. By category, alcoholic extremity users were the softest, portion NAB and nutrient performed better. In fact, nutrient is present emerging arsenic our 2nd largest class down beer. Regionally, shipments declined successful North America and Mexico amid ongoing lawsuit inventory adjustments successful spirits, portion South America delivered mid- to precocious single-digit growth.