owens-illinois inc (OI) Key Developments
Owens-Illinois, Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015
Apr 29 15
Owens-Illinois, Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $1,421 million compared with $1,639 million for the same period a year ago. Earnings from continuing operations before income taxes was $100 million compared with $134 million for the same period a year ago. Earnings from continuing operations was $75 million compared with $107 million for the same period a year ago. Net earnings attributable to the company was $71 million or $0.44 per diluted share compared with $101 million or $0.61 per diluted share for the same period a year ago. Earnings from continuing operations attributable to the company was $71 million or $0.44 per diluted share compared with $102 million or $0.62 per diluted share for the same period a year ago. Total cash utilized in operating activities was $278 million compared with $203 million for the same period a year ago. Additions to property, plant and equipment was $106 million compared with $108 million for the same period a year ago.
The company provided earnings guidance for the year 2015. For the year, the company’s tax rate is still expected to be between 23% and 25%. The company is updating annual adjusted earnings guidance range to between $2 to $2.30 per share. The company expects 2015 free cash flow will approximate $250 million.
Owens-Illinois, Inc. Appoints Suley Muratoglu as Vice President and Chief Marketing Officer
Apr 7 15
Owens-Illinois, Inc. announced that Suley Muratoglu has joined O-I as vice president and chief marketing officer, effective April 6, 2015. He is a member of the company's global leadership team and reports to Andres Lopez, O-I chief operating officer. Muratoglu will lead O-I's sales and marketing activities on a global basis and will be responsible for ensuring the deployment of corporate strategy as it applies to commercial activity. He will work closely with the sales and marketing leaders in each of O-I's four geographic regions to implement processes for new business development, enhance commercial effectiveness and ensure delivery of customer value through product innovation, market knowledge and customer support. Muratoglu joins O-I from Tetra Pak, where he worked for more than 20 years, most recently as vice president, marketing and product management for the U.S. and Canada.
Owens-Illinois, Inc. Announces Nominations and Resignations for Board of Directors
Apr 2 15
Owens-Illinois, Inc. announced that Gordon Hardie and Alan Murray will stand as nominees for election to the company's Board of Directors at the 2015 annual meeting of stockholders on May 12. Current Board of Directors members Helge Wehmeier, who has reached the mandatory retirement age for board members, and Jay Geldmacher, whose significant additional professional responsibilities created scheduling conflicts, will not be standing for re-election. Gordon Hardie is managing director, Bunge Food & Ingredients. He is responsible for the strategic development and global performance of the Food & Ingredients business. Prior to joining Bunge, Hardie was managing director at Morningside Partners, an M&A advisory firm he established in 2009. Alan Murray was chief executive officer of Hanson Plc. While serving as Hanson CEO and in various other financial leadership roles, he restructured, rebranded and increased profitability, and managed many acquisitions.
Owens-Illinois, Inc. to Report Q1, 2015 Results on Apr 28, 2015
Apr 1 15
Owens-Illinois, Inc. announced that they will report Q1, 2015 results After-Market on Apr 28, 2015
Owens-Illinois, Inc. Announces Executive Changes
Mar 19 15
Owens-Illinois, Inc. announced that Senior Vice President and Chief Financial Officer Steve Bramlage will leave the company to pursue another opportunity, effective March 31, 2015. Until an internal and external executive search can be completed, John Haudrich, vice president, finance and corporate controller, will assume the responsibilities of the chief financial officer. Haudrich has led the global finance operations for the company's four business segments and the corporate finance team, focused on management reporting. He joined the company in March 2009 as vice president of investor relations, was named vice president of finance in 2010 and was appointed vice president, finance and corporate controller in 2011.