O-I Glass Q2 2026 earnings miss drives 17% stock decline

O-I Glass, Inc. announced its second‑quarter 2026 financial results on July 28. Revenue fell 2% to $1.67 billion, shy of the $1.69 billion expected, and adjusted earnings per share dropped to $0.09 from $0.53 a year earlier, well below the consensus estimate of $0.26.

Management attributed the shortfall to operational challenges in Europe, including competitive pricing pressure, elevated energy costs and a temporary disruption from restructuring. The company recorded a $873 million goodwill impairment charge in Europe and reported operating profit of only $6 million there, while profit in the Americas rose 22% to $165 million with a 17.4% margin, helped by its “Fit to Win” cost‑savings program.

Guidance for the full year was lowered, with adjusted EBITDA now projected at $1.0‑$1.1 billion for 2026 (down from $1.125‑$1.225 billion) and $1.2‑$1.3 billion for 2027 (down from $1.45 billion). The earnings miss sent O‑I Glass shares down roughly 17% in after‑hours trading.