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O-I Glass, Inc. (NYSE:OI) provided a business update for Q2/22, expecting its adjusted EPS to exceed its previous guidance range.
According to Andres Lopez, the CEO of the company, Q2 is progressing very well, with glass container shipments growing 1% quarter-to-date through May, which is consistent with the company’s estimate of low, single digit growth.
The company now expects Q2 adjusted EPS to exceed $0.65, compared to its most recent guidance range of $0.55–$0.60, reflecting more favorable operating performance and higher net price. The Wall Street consensus is $0.58.
