Last $25.64 USD
Change Today -0.18 / -0.70%
Volume 502.2K
OI On Other Exchanges
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Exchange
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As of 5:15 PM 11/28/14 All times are local (Market data is delayed by at least 15 minutes).

owens-illinois inc (OI) Snapshot

Open
$25.74
Previous Close
$25.82
Day High
$25.74
Day Low
$25.35
52 Week High
12/31/13 - $35.95
52 Week Low
10/30/14 - $23.31
Market Cap
4.2B
Average Volume 10 Days
1.1M
EPS TTM
$2.62
Shares Outstanding
164.9M
EX-Date
--
P/E TM
9.8x
Dividend
--
Dividend Yield
--
Current Stock Chart for OWENS-ILLINOIS INC (OI)

owens-illinois inc (OI) Related Businessweek News

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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.

22,500 Employees
Last Reported Date: 02/13/14
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
President of O-I Europe
Total Annual Compensation: $600.9K
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. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year 2014 and 2015

Owens-Illinois, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of $1,745 million compared to $1,784 million a year ago. Earnings from continuing operations before income taxes were $91 million compared to $178 million a year ago. Earnings from continuing operations were $68 million compared to $138 million a year ago. Net earnings were $67 million compared to $136 million a year ago. Net earnings attributable to the company from continuing operations were $61 million or $0.37 per share diluted, compared with $132 million or $0.80 per share in the same period of 2013. Adjusted earnings were $124 million or $0.75 per share compared to $132 million or $0.79 per share a year ago. For the nine months, the company reported net sales of $5,181 million compared to $5,206 million a year ago. Earnings from continuing operations before income taxes were $404 million compared to $472 million a year ago. Earnings from continuing operations were $315 million compared to $362 million a year ago. Net earnings were $293 million compared to $347 million a year ago. Net earnings attributable to the company from continuing operations were $297 million or $1.80 per share diluted, compared with $346 million or $2.10 per share in the same period of 2013. Total cash provided by operating activities were $187 million compared to $242 million a year ago. Additions to property, plant and equipment were $290 million compared to $239 million a year ago. Adjusted earnings were $360 million or $2.17 per share compared to $366 million or $2.20 per share a year ago. The company cut its forecast for adjusted EPS for full year 2014 to be in the range of $2.62 to $2.72 per share. Due to the seasonality of its business, the Company generates most of its free cash flow (FCF) in the fourth quarter of the year. The strength of the US dollar is presently expected to reduce FCF, which is reported in US dollars, by approximately $30 million. As such, the Company expects FCF for 2014 to be approximately $320 million. The company expects a tax rate of approximately 23% for the entire year, which means the incremental tax rate in the fourth quarter will likely be 26% to 27%. For the year 2015, the company expects adjusted EPS to be below $3.50 target and free cash flow range of $350 million to $400 million, driven by currency.

Owens-Illinois, Inc. Agrees to Enter into Joint Venture and Long-Term Supply Agreement with Constellation Brands

Owens-Illinois, Inc. announced that it has agreed to enter into a 50-50 joint venture with Constellation Brands Inc. The joint venture will operate the glass container production plant in Nava, Mexico, that Constellation recently agreed to purchase from Anheuser-Busch Inbev (ABI). The plant will provide bottles exclusively for Constellation's adjacent brewery, which brews a leading portfolio of Mexican beer brands for export to the United States, including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and Pacifico. To help meet current and rising demand from Constellation's brewery, the joint venture plans to expand the plant from one furnace to four over the next four years. O-I and Constellation will each initially contribute approximately $100 million to the joint venture. The capacity expansion, which is expected to cost approximately $350 million, will be financed by equal contributions from both partners. O-I will account for the investment and returns as an equity joint venture. In a related development, O-I has agreed to enter into a long-term agreement to supply glass containers to Constellation's Nava brewery. Supply under the agreement, primarily from O-I's plant in Waco, Texas, begins in late 2015, ramping up significantly in the following year. O-I is expected to supply the output from at least one furnace under this agreement. After the joint venture expansion is complete, supply under the agreements will add the equivalent of approximately 20% of O-I's existing North America production. Together, these transactions are expected to contribute $0.05 per share to O-I's 2016 earnings, increasing to $0.15 per share once the agreements are fully implemented. These transactions will not impact O-I's projected free cash flow generation of approximately $350 million in 2014 and $400 million in 2015, and they will not affect the company's commitment to repurchase at least $100 million in shares in 2015. Funding the joint venture is expected to reduce the capital allocated to O-I's deleveraging efforts.

Owens-Illinois, Inc. to Report Q3, 2014 Results on Oct 28, 2014

Owens-Illinois, Inc. announced that they will report Q3, 2014 results After-Market on Oct 28, 2014

 

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