Last $26.16 USD
Change Today -0.11 / -0.42%
Volume 991.9K
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As of 4:15 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

owens-illinois inc (OI) Snapshot

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07/3/14 - $35.18
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owens-illinois inc (OI) Details

Owens-Illinois, Inc., through its subsidiaries, manufactures and sells glass container products to food and beverage manufacturers primarily in Europe, North America, South America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals. It offers glass containers in a range of sizes, shapes, and colors. The company sells its products directly to customers under annual or multi-year supply agreements, as well as through distributors. Owens-Illinois, Inc. was founded in 1903 and is headquartered in Perrysburg, Ohio.

21,100 Employees
Last Reported Date: 02/11/15
Founded in 1903

owens-illinois inc (OI) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: $1.0M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $462.3K
Senior Vice President and General Counsel
Total Annual Compensation: $422.0K
Compensation as of Fiscal Year 2013.

owens-illinois inc (OI) Key Developments

Owens-Illinois, Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2015

Owens-Illinois, Inc. announced earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company announced that net sales were $1.6 billion, down 9% from the prior year fourth quarter. The company benefited from price gains of 1%. The stronger U.S. dollar adversely impacted the value of sales by 6%. Fourth quarter segment operating profit was $180 million, down $15 million compared with the prior year fourth quarter. Fourth quarter 2014 adjusted earnings were $0.46 per share, compared with $0.51 per share in the same period of 2013. For the full year, the company announced net sales were $6.8 billion, down 3% from 2013. Segment operating profit was $908 million in 2014, compared with $947 million in the prior year. Full year 2014 earnings from continuing operations attributable to the company were $1.01 per share (diluted), compared with $1.22 per share in full year 2013. Excluding certain items management considers not representative of ongoing operations, adjusted earnings were $2.63 per share compared with $2.72 per share in the prior year. Adjusted EPS for the year was modestly lower than 2013. This reflects strong performance in Europe and South America and disappointing performance in North America and Asia Pacific. The company generated $329 million of free cash flow in 2014. This includes the nearly $40 million adverse impact of currency exchange rates. Net debt declined by $236 million for the year, aided by foreign exchange rates, resulting in an improved leverage ratio of 2.4 at year end 2014. The company provided earnings guidance for the full year of fiscal 2015. The company announced that reflecting unfavorable currency translation, it expects adjusted earnings for full year 2015 to be in the range of $2.20 to $2.60. Assuming constant currency (at 2014 currency rates), comparable adjusted earnings for full year 2015 are expected to be in the range of $2.60 to $3.00. The midpoint of the range using constant currency is higher than prior year adjusted earnings due to an anticipated improvement in operating results. In 2015, the company expects to generate $300 million of free cash flow for the third consecutive year, despite an expected $30 million headwind from currency exchange rates.

O-I Announces Executive Changes

Owens-Illinois, Inc. announced that it has named Vitaliano Torno managing director of O-I Europe, effective immediately. Torno succeeds Erik Bouts as the most senior level executive for O-I in Europe and will report to Andres Lopez, president of glass containers and chief operating officer. As the head of O-I's large region, Torno will continue shepherding the company through its long-term asset optimization program. His strong commercial background will help support the growing needs of European customers and serve to promote the company's leadership role in providing sustainable, healthy and safe packaging solutions. Torno has worked in the glass industry for more than 25 years. He served as general manager of O-I's operations in central Europe (Czech Republic, Poland and Hungary) in the late 1990s, and in Italy in the early 2000s.

Owens-Illinois, Inc. to Report Q4, 2014 Results on Feb 02, 2015

Owens-Illinois, Inc. announced that they will report Q4, 2014 results After-Market on Feb 02, 2015


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