O-i Glass, Inc. · NYSE:OI
O-i Glass — Q2 2026 Earnings Presentation
23 slides from O-i Glass's earnings presentation, Jul 29, 2026
Slide 1: Second Quarter 2026 Earnings
SECOND QUARTER 2026 EARNINGS JULY 28, 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: 2Q26 Overview
2Q26 OVERVIEW 3 A M E R I C A S S T R E NG T H + F I T TO W I N PA RTI A L LY O F F S E T E U ROP E P R E S S U R E ADJUSTED EARNINGS (aEPS) $0.53 AMERICAS SEGMENT OPERATING PROFIT UP 22% Highlights Fit to Win capability EUROPE HEADWINDS IMPACT 2Q26 RESULTS Competitive pressures, elevated energy cos
Slide 4: Net Sales Stable as Execute Fit to Win
NET SALES STABLE AS EXECUTE FIT TO WIN 4 D E S P I T E S O F T D E M A N D, T R E ND S I M P ROV E D OV E R T H E QUA RTE R A N D VO L U M E WA S F L AT I N J U N E STEADY NET SALES ($B) 1.59 1.57 1.54 1.73 1.71 1.67 1.68 1.65 1.53 1.50 GLOBAL 2Q26 SALES VOLUME DOWN 4.5% BUT JUNE FLAT • AM down 7%.
Slide 5: Fit to Win Delivering Tangible Benefits
FIT TO WIN DELIVERING TANGIBLE BENEFITS 5 > $ 4 0 0 M P RO G R A M TO - D AT E W I T H $ 8 5 M N E T Y T D ; A D J U S TI NG TA R G E TS F O R O P E R ATI NG D I S RU P TI ONS NET FIT TO WIN BENEFITS ($M) 1 2024 2025 2026 2027 3 YEAR ACTUAL ACTUAL 1H ACTUAL FY TARGET TARGET TARGET COMMENTS 2 Reshape
Slide 6: 2Q26 Company Performance
2Q26 COMPANY PERFORMANCE 6 S TA B L E S A L E S W H I L E E A R NI NG S D OW N G I V E N C H A L L E NG E S I N E U ROP E NET SALES ($M) aEPS $0.60 1,706 0.53 1,668 $0.50 $0.40 $0.30 0.09 0.01 $0.20 (0.31) (0.09) 0.04 0.09 $0.10 -4.5% (Tons) (0.18) $0.00 2Q25 2Q26 2Q26 Net Price Vol/Mix Operating Co
Slide 7: 2Q26 Segment Performance
2Q26 SEGMENT PERFORMANCE 7 A M E R I C A S S T R E NG T H PA RTI A L LY O F F S E T E U RO P E P R E S S U RE SEGMENT OPERATING PROFIT ($M) AM AND EU PERFORMANCE AMERICAS 225 Changes in Net Sales and Segment Operating Profit AMERICAS $M 2Q25 Currency Price Sales Vol/Mix Operating Cost 2Q26 ($M) Net
Slide 8: Reduced 2026 Guidance
REDUCED 2026 GUIDANCE 8 A M E R I C A S R E M A I NS C O N S I S TE NT W I T H E X P E C TATI ONS ; H E A DW I ND S I M PAC T E U ROP E O U T L OOK 2026 GUIDANCE CHANGE IN 2026 aEBITDA OUTLOOK ($M) Estimate of drivers for change in outlook from mid-point of ranges 1,250-1,300 ORIGINAL PRIOR CURRENT
Slide 9: Realigning 2027 Targets
REALIGNING 2027 TARGETS 9 E X P E C T G R A D UA L I M P ROV E M E NT I N E U RO P E – M A I N TA I N S T R AT E G Y B U T R E C A L I B RAT E T I M I N G 2027 TARGETS 2027 aEBITDA TARGETS 2025 I-DAY CURRENT ($M) 2025 I-DAY CURRENT aEBITDA ($M) ≥ 1,450 1,200 - 1,300 2024 Actual aEBITDA 1,100 1,100 a
Slide 10: Value Creation Roadmap
VALUE CREATION ROADMAP 10 R I G H T S T R AT E G Y TO I N C R E A S E VA L U E A N D I M P ROV E E C O N O M I C P RO F I T HORIZON 3 (2028+) • Initiating Horizon 3 evaluation ECONOMIC STRATEGIC OPTIONALITY • Right portfolio, Right balance sheet PROFIT MINDSET HORIZON 2 (2026+) • Redesigned commerci
Slide 11: Conclusion
CONCLUSION 11 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 2Q26STRONG RESULTSYEAR-TO-DATE LAGGED EXPECTATIONS AND PERFORMANCE STRONG YTD FOCUSED LED PERFORMANCE ON IMPROVING EU BENEFITS PERFORMANCE BY FIT TO WIN ROBUST AMERICAS PERFORMANCE STRONG STRONG
Slide 12: Appendix
APPENDIX 12
Slide 13: Summary Financial Results: 2Q26 vs 2Q25
SUMMARY FINANCIAL RESULTS: 2Q26 VS 2Q25 13 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 2Q25 $ 943 $ 741 $ 22 $1,706 $135 $90 $225 $0.53 % Margin 14.3% 12.1% 1
Slide 14: 2026 Key Guidance Assumptions & Sensitivities
2026 KEY GUIDANCE ASSUMPTIONS & SENSITIVITIES 14 2026 BUSINESS DRIVERS VOLUME & ENERGY FX 2026 vs 2025 BUSINESS DRIVER ▲ Fav ▼Unfav 2026 COMMENTS aEBITDA ▼ $1.0B - $1.1B APPROXIMATE EPS SENSITIVITY TO 1% CHANGE IN FX ASSUMPTIONS Sales Volume ▼ ~ Down slightly ANNUAL VOLUME (AT ~ 30% ETR) Net Price ▼
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
Slide 17: Segment Reconciliations: 2Q26 vs. 2Q25
SEGMENT RECONCILIATIONS: 2Q26 VS. 2Q25 17 2Q26 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES 2Q26 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: Segment Reconciliations: YTD 2Q26 vs. YTD 2Q25
SEGMENT RECONCILIATIONS: YTD 2Q26 VS. YTD 2Q25 18 YTD 2Q26 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES YTD 2Q26 PRICE, SALES VOLUME, OPERATING COSTS AND CURRENCY IMPACT ON REPORTABLE SEGMENT OPERATING PROFIT (a) Currency effect on net sales and segment operating profit determ
Slide 19: Reconciliation for Segment Operating Profit
RECONCILIATION FOR SEGMENT OPERATING PROFIT 19
Slide 20: Reconciliation to Adjusted Effective Tax Rate
RECONCILIATION TO ADJUSTED EFFECTIVE TAX RATE 20 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 June 30, 2026, to its most directly comparable GAAP financial measure, provision for inco
Slide 21: Reconciliation to FCF and FCF as Percentage of Sales
RECONCILIATION TO FCF AND FCF AS PERCENTAGE OF SALES 21 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measures, free cash flow, for all periods after 2026 and for free cash flow as a percentage of net sales, for all periods after December 31, 2025 to
Slide 22: Reconciliations to Adjusted EBITDA and Adjusted EBITDA Margin
RECONCILIATIONS TO ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN 22 For the periods ending after June 30, 2026, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted EBITDA and adjusted EBITDA margin, to its most directly comparable U.S. GAAP f
Slide 23: Additional Reconciliations
ADDITIONAL RECONCILIATIONS 23 RECONCILIATION TO LEVERAGE RATIO For the years ending after December 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, leverage ratio, which is defined as total debt less cash divided by Adjusted EBITDA, to