--- title: "O-I Glass | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 1.668 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/294110402.md" datetime: "2026-07-28T20:32:35.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294110402.md) - [en](https://longbridge.com/en/news/294110402.md) - [zh-HK](https://longbridge.com/zh-HK/news/294110402.md) --- # O-I Glass | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 1.668 B Revenue: As of FY2026 Q2, the actual value is USD 1.668 B, missing the estimate of USD 1.68 B. EPS: As of FY2026 Q2, the actual value is USD -6.33, missing the estimate of USD 0.2507. EBIT: As of FY2026 Q2, the actual value is USD -741 M. #### Second Quarter 2026 Financial Highlights O-I Glass, Inc. reported net sales of $1,668 million for the second quarter of 2026, marking a 2 percent decrease from $1,706 million in the prior year, primarily due to a 4.5 percent decline in sales volumes, partially offset by favorable currency translation and stable selling prices. The company experienced a net loss attributable to the Company of - $972 million, or - $6.33 per share, for the second quarter of 2026, compared to a net loss of - $5 million, or - $0.03 per share, in the second quarter of 2025. This loss included an $873 million non-cash goodwill impairment charge and a $96 million increase to deferred tax valuation allowances, both related to Europe. Adjusted earnings were $0.09 per share in 2Q26, down from $0.53 per share in the prior year, negatively impacted by - $0.18 per share due to a higher adjusted tax rate. Segment operating profit was $171 million in 2Q26, a decrease from $225 million in 2Q25. #### Segment Performance - **Americas Segment:** Net sales for the Americas segment were $949 million in 2Q26, up nearly 1 percent from $943 million in 2Q25. Segment operating profit increased by 22 percent to $165 million in 2Q26 from $135 million in 2Q25, with margins expanding to 17.4 percent from 14.3 percent. - **Europe Segment:** Net sales for the Europe segment were $704 million in 2Q26, down 5 percent from $741 million in 2Q25. Segment operating profit was $6 million in 2Q26, a significant decline from $90 million in 2Q25, reflecting competitive pricing pressure, elevated energy costs, and temporary operational disruption. Margins decreased to 0.9 percent from 12.1 percent. #### Other Key Financials - **Gross Profit:** Gross profit for 2Q26 was $214 million, down from $299 million in 2Q25. For the six months ended June 30, 2026, gross profit was $413 million, compared to $579 million in the same period of 2025. - **Other Expense, Net:** Other expense, net was - $900 million in 2Q26, compared to - $118 million in 2Q25, primarily due to the $873 million non-cash goodwill impairment charge. - **Interest Expense, Net:** Interest expense, net was $86 million in 2Q26, slightly up from $85 million in 2Q25. - **Corporate Retained Costs:** Corporate retained and other costs were $24 million in 2Q26, compared to $25 million in 2Q25. - **Tax Rates:** The reported tax rate was -17 percent, while the effective tax rate on adjusted earnings was 68 percent in 2Q26. #### Cash Flow - **Operating Cash Flow:** Cash provided by operating activities was $94 million for the three months ended June 30, 2026, down from $155 million in the prior year. For the six months ended June 30, 2026, cash utilized in operating activities was - $200 million, compared to - $16 million utilized in the same period of 2025. - **Cash Payments for PP&E:** Cash payments for property, plant and equipment were - $95 million for 2Q26, compared to - $104 million in 2Q25. - **Free Cash Flow:** O-I Glass, Inc. revised its 2026 guidance, anticipating free cash flow to be a - $50 million to - $150 million use of cash, compared to the prior guidance of $50 million to $150 million. In 2025, actual free cash flow was $168 million. #### Operational Metrics - **Fit to Win Program:** The Fit to Win program generated approximately $65 million of gross benefits and $50 million savings net of operational disruptions in 2Q26. Year-to-date, gross savings totaled $115 million or $85 million net savings, with O-I Glass, Inc. expecting approximately $200 million of Fit to Win benefits in 2026 and at least $650 million over the three-year period. #### Business Outlook O-I Glass, Inc. revised its 2026 guidance, now anticipating adjusted EBITDA of $1.0 billion to $1.1 billion, and a net debt leverage ratio at or slightly above 4 times. The company has also realigned its 2027 adjusted EBITDA target to $1.2 billion to $1.3 billion, reflecting a more gradual rate of improvement in Europe. These adjustments are primarily due to higher than anticipated operating costs, ongoing commercial pressure, and elevated energy costs in Europe. ### Related Stocks - [OI.US](https://longbridge.com/en/quote/OI.US.md) ## Related News & Research - [This Stubhub Analyst Turns Bearish; Here Are Top 5 Downgrades For Thursday](https://longbridge.com/en/news/295824839.md) - [How Iran has staved off economic collapse despite the US-Israeli war](https://longbridge.com/en/news/296204102.md) - [Why Intel stock is falling today](https://longbridge.com/en/news/296261485.md) - [Norway: World's top wealth fund flags stock market risks](https://longbridge.com/en/news/296118709.md) - [Oil edges higher as Iranian attacks on ships in Strait of Hormuz without U.S. response rise](https://longbridge.com/en/news/296280231.md)