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BRIEF-Owens-Illinois Reports Q3 Adj EPS Of $0.54

Published 29/10/2019, 08:44 am
© Reuters.  BRIEF-Owens-Illinois Reports Q3 Adj EPS Of $0.54
OI
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Oct 28 (Reuters) - Owens-Illinois Inc (NYSE:OI) OI.N :

* O-I REPORTS THIRD QUARTER 2019 RESULTS

* Q3 LOSS PER SHARE $3.69 FROM CONTINUING OPERATIONS

* Q3 SALES $1.67 BILLION VERSUS REFINITIV IBES ESTIMATE OF $1.73 BILLION

* Q3 EARNINGS PER SHARE ESTIMATE $0.55 -- REFINITIV IBES DATA

* Q3 ADJUSTED EARNINGS PER SHARE $0.54 EXCLUDING ITEMS

* OWENS-ILLINOIS - IN FACE OF SOFTER THAN EXPECTED DEMAND, ACCELERATING ACTIONS TO CURTAIL CAPACITY AND REDUCE COSTS

* EXPECTS 2019 ADJUSTED EARNINGS OF ABOUT $2.20 - $2.25 PER SHARE

* OWENS-ILLINOIS - QTRLY GLOBAL SALES SHIPMENTS DECLINED APPROXIMATELY 1 PERCENT COMPARED WITH PRIOR YEAR

* ANTICIPATES Q4 2019 ADJUSTED EARNINGS OF APPROXIMATELY $0.45 - $0.50 PER SHARE

* EXPANDING STRATEGIC PORTFOLIO REVIEW TO INCLUDE EVALUATION OF AUSTRALIA AND NEW ZEALAND BUSINESS

* SEES 2019 CAPITAL EXPENDITURES OF APPROXIMATELY $450 MILLION TO $475 MILLION

* OWENS-ILLINOIS - STRATEGIC REVIEW IS ONGOING AND MAY RESULT IN DIVESTITURES, CORPORATE TRANSACTIONS OR SIMILAR ACTIONS

* OVER COURSE OF 2019, CO'S NORTH AMERICA BUSINESS HAS CONTINUED TO EXPERIENCE SIGNIFICANT DECLINES IN BEER CATEGORY SALES

* CO NOW EXPECTS ITS 2019 CASH PROVIDED BY CONTINUING OPERATING ACTIVITIES ABOUT $390 MILLION TO $415 MILLION

* FY2019 EARNINGS PER SHARE VIEW $2.35 -- REFINITIV IBES DATA

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