O-I Glass 10-Q: Q3 Loss of $13M, Europe Profit Collapses, 2027 Targets Withdrawn
OI is trading near its 52-week low of $5.3 (5.5% above the low) on elevated volume (2.5× avg).
Summary
O-I Glass reported a $13 million third-quarter loss as European profit collapsed, and disclosed a proposed European plant closure that will cost $100 million to $120 million in Q4 2026. The company withdrew its 2027 targets and cut its 2026 Fit to Win savings estimate.
Key Events · Earnings and Guidance · OI
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Q3 Loss as Europe Profit Collapses
Net loss attributable to the Company was $13 million, or $0.08 per share, versus $30 million, or $0.19 per share, a year earlier. Europe segment operating profit fell to $2 million from $95 million, and year-to-date Europe profit is $7 million versus $253 million.
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European Plant Closure Charge of $100-120M
In late October 2026 the company began a consultation on permanently closing a European production facility, expecting Q4 2026 charges of $100 million to $120 million: $60-70 million of plant asset impairment and $40-50 million of employee separation and other cash costs.
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2027 Targets Withdrawn, Fit to Win Cut
O-I is no longer maintaining its 2027 targets and will give 2027 guidance on its 2026 year-end earnings call. 2026 Fit to Win benefits are now expected at about $180 million, down from the initial $200 million estimate.
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Cash Flow Turns Negative
Operating activities used $35 million in the first nine months of 2026 versus $198 million provided a year earlier. Full-year 2026 operating cash flow is guided to about $125 million with capital expenditures of about $425 million, against $379 million of cash on hand.
Analysis · OI · Manufacturing
The quarter was already public, but the 10-Q carries the details that change the story. Europe segment operating profit fell to $2 million from $95 million a year earlier, and the company now expects to take a $100 million to $120 million charge in Q4 2026 to permanently close a European production facility. Management also stopped maintaining its 2027 targets and cut the 2026 Fit to Win benefit estimate to about $180 million from $200 million, while guiding 2026 operating cash flow to roughly $125 million. With $379 million of cash, $4.8 billion of long-term debt and negative operating cash flow of $35 million through nine months, the European recovery plan and the Q4 charge are what determine whether the balance sheet stays comfortable.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 38.5% of the 1020 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, OI was trading at $5.59 on NYSE in the Manufacturing sector, with a market capitalization of approximately $865.1M. The 52-week trading range was $5.30 to $16.91. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.