O-i Glass, Inc. · NYSE:OI
O-i Glass — Q1 2026 Earnings Presentation
21 slides from O-i Glass's earnings presentation, Apr 29, 2026
Slide 1: First Quarter 2026 Earnings
FIRST QUARTER 2026 EARNINGS April 29, 2026
Slide 2: Safe Harbor Comments and Forward Looking Statements
SAFE HARBOR COMMENTS AND FORWARD LOOKING STATEMENTS 2 This presentation contains “forward-looking” statements related to O-I Glass, Inc. (“O-I Glass” or the “Company”) within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Section 27A of the Se
Slide 3: 1Q26 Overview
1Q26 OVERVIEW 3 C H A L L E N G IN G QUA RTE R , D E M A ND S TA B I L I Z I NG , G U I D A NCE U P D AT E D F O R H I G H E R E N E R G Y C O S T S ADJUSTED EARNINGS (aEPS) $0.05 aEPS (vs. $0.40 PY) DUE TO MACRO CHALLENGES EU pressures and difficult volume comparisons (likely due to tariff pre-buy)
Slide 4: Steady Top-Line and Stabilizing Volumes
STEADY TOP-LINE AND STABILIZING VOLUMES 4 1 Q 2 6 S A L E S VO L U M E S D OW N ~ 8 % B U T M A R C H VO L U M E S D OW N 2 % STEADY NET SALES ($B) STABILIZING SALES VOLUME TREND (% YoY) PY likely benefited from significant customer pre-buys ahead of tariffs in early 2025 Anticipate ~ flat sales vol
Slide 5: Solid Gross Fit to Win Benefits Despite a Disruptive Quarter
SOLID GROSS FIT TO WIN BENEFITS DESPITE A DISRUPTIVE QUARTER 5 1 Q 2 6 G ROS S B E N E F I TS TOTA L E D $ 5 0 M , $ 3 5 M N E T O F E X T E R N A L D I S RU P TI O N A N D R E S TRU C TU R I NG NET FIT TO WIN BENEFITS ($M) 1 2024 2025 2026 3 YEAR ACTUAL ACTUAL 1Q ACTUAL FY TARGET TARGET COMMENTS 2
Slide 6: 1Q26 Performance
1Q26 PERFORMANCE 6 L OW E R E A R NI NG S R E F L E CT E U P R E S S U R E S A N D D I F F I C U LT VO L U M E C O M PA R I S ONS NET SALES ($M) aEPS 1,567 1,540 0.40 (0.28) 0.01 0.06 0.05 (0.07) (0.01) -8% (Tons) (0.06) 1Q25 1Q26 1Q25 Net Price Vol/Mix Operating Corp Interest / FX 1Q26 Costs Retain
Slide 7: 1Q26 Segment Performance
1Q26 SEGMENT PERFORMANCE 7 A M S TA B L E A S O F F S E T E X T E R N A L D I S RU P TI O N; E U D OW N O N C O M P E T I TI V E P R E S S U RE / R E S TRU CT U RI NG SEGMENT OPERATING PROFIT ($M) AM AND EU PERFORMANCE AMERICAS 209 Changes in Net Sales and Segment Operating Profit AMERICAS $M 1Q25 C
Slide 8: Full Year 2026 Outlook
FULL YEAR 2026 OUTLOOK 8 AG G R E S S I V E LY M A N AG I NG L E V E R S I N O - I C O N T ROL ; R E V I S E D G U I D A NC E D U E TO E N E R G Y I N F L AT I ON 2026 RISK ADJUSTED GUIDANCE MITIGATING EU ENERGY RISK Further details in the appendix % EU NG Covered by Energy Adj. EBITDA ($M) Adjusted
Slide 9: Conclusion
CONCLUSION 9 F U N D A M E N TA L S O F O - I ’ S L O N G - T E R M S T R ATE G Y R E M A I N I N TAC T • FIT TO WIN DELIVERING VALUE AND ENABLES FUTURE PROFITABLE GROWTH • EXPECT IMPROVED 2H26 VOLUMES SUPPORTED BY NEW BUSINESS WINS • UPDATING 2026 OUTLOOK REFLECTING CURRENT EU ENVIRONMENT • FOCUSED
Slide 10: Appendix
APPENDIX 10
Slide 11: Value Creation Roadmap
VALUE CREATION ROADMAP 11 HORIZON 3 (2028+) ECONOMIC PROFIT (EP) STRATEGIC OPTIONALITY MINDSET HORIZON 2 (2026+) PROFITABLE GROWTH FUTURE O-I EP HORIZON 1 (2024+) CAPTURE FIT TO WIN CURRENT O-I EP CAPTURE FIT TO WIN: PROFITABLE GROWTH: STRATEGIC OPTIONALITY: Radically reduce total enterprise costs a
Slide 12: Summary Financial Results: 1Q26 vs 1Q25
SUMMARY FINANCIAL RESULTS: 1Q26 VS 1Q25 12 NET SALES, SEGMENT OPERATING PROFIT, AND aEPS RECONCILIATIONS COST BREAKDOWN NET SALES SEGMENT OPERATING PROFIT $M except EPS and % AMERICAS EUROPE CORP TOTAL AMERICAS EUROPE TOTAL aEPS 1Q25 $ 873 $ 667 $ 27 $ 1,567 $141 $68 $209 $0.40 % Margin 16.2% 10.2%
Slide 13: 2026 Key Guidance Assumptions
2026 KEY GUIDANCE ASSUMPTIONS 13 2026 BUSINESS DRIVERS ESTIMATED QUARTERLY aEPS ALLOCATION 2026 vs 2025 BUSINESS DRIVER ▲ Fav ▼Unfav 2026 COMMENTS aEBITDA ▲ $1.125B - $1.225B ~5% Sales Volume ►/▼ ~ Flat to down slightly, may exit some unprofitable business Net Price ▼ ~ $35M-$100M headwind Energy Re
Slide 14: 2026 Key Guidance Sensitivities
2026 KEY GUIDANCE SENSITIVITIES 14 VOLUME & ENERGY FX APPROXIMATE EPS SENSITIVITY TO 1% CHANGE IN FX RATE ASSUMPTIONS AND APPROXIMATE ANNUAL VOLUME ANNUAL IMPACT ON EPS FROM 10% FX CHANGE • $0.07/sh for 1% change in sales volume • $0.13/sh for 1% change in production volume FX ASSUMPTIONS FX EPS SEN
Slide 15: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES 15 The company uses certain non-GAAP financial measures, which are measures of its historical or future financial performance that are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. Management believes that its presentati
Slide 16: Reconciliation to Adjusted Earnings
RECONCILIATION TO ADJUSTED EARNINGS 16 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted earnings and adjusted earnings per share, for the periods ending after March 31, 2026 to its most directly comparable GAAP financial measure, net ea
Slide 17: Segment Reconciliations: 1Q26 vs. 1Q25
SEGMENT RECONCILIATIONS: 1Q26 VS. 1Q25 17 1Q26 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES 1Q26 PRICE, SALES VOLUME, OPERATING COSTS AND CURRENCY IMPACT ON REPORTABLE SEGMENT OPERATING PROFIT (a) Currency effect on net sales and segment operating profit determined by using 20
Slide 18: Reconciliation for Segment Operating Profit
RECONCILIATION FOR SEGMENT OPERATING PROFIT 18
Slide 19: Reconciliation to Adjusted Effective Tax Rate
RECONCILIATION TO ADJUSTED EFFECTIVE TAX RATE 19 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted effective tax rate, for the periods ending after March 31, 2026, to its most directly comparable GAAP financial measure, provision for inc
Slide 20: Reconciliation to Free Cash Flow
RECONCILIATION TO FREE CASH FLOW 20 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measures, free cash flow, for all periods after 2026 to its most directly comparable U.S. GAAP financial measure, cash provided by operating activities, without unreason
Slide 21: Additional Reconciliations
ADDITIONAL RECONCILIATIONS 21 RECONCILIATION TO ADJUSTED EBITDA For the periods ending after March 31, 2026, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted EBITDA, to its most directly comparable U.S. GAAP financial measure, net loss