O-I Glass, Inc. Profit Retreats In Q1, but beats estimates

(RTTNews) - O-I Glass, Inc. (OI) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $72 million, or $0.45 per share. This compares with $206 million, or $1.29 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.1% to $1.59 billion from $1.83 billion last year.

O-I Glass, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $72 Mln. vs. $206 Mln. last year. -EPS (Q1): $0.45 vs. $1.29 last year. -Revenue (Q1): $1.59 Bln vs. $1.83 Bln last year.

-Guidance: Next quarter revenue guidance: $1.50 - $2.00