The Perrysburg, Ohio-based company posted a net loss of 90 cents per share, an improvement over the $1 per share loss recorded during the same period last year. On an adjusted basis, O-I Glass delivered earnings of 20 cents per share, edging past the 19 cents projected by analysts polled by FactSet. While the bottom line showed resilience, revenue dipped to $1.5 billion, falling just short of the $1.52 billion Wall Street consensus.

Performance gains were most visible in the Americas segment, where operating profit surged to $134 million from $96 million a year ago. The company attributed this growth to significantly lower operating expenses. Meanwhile, the European division saw a modest lift in profit to $43 million, supported by higher production levels that improved cost absorption.

Efficiency Gains and 2026 Outlook

Management credited the results to its ongoing Fit to Win initiatives, a multi-year restructuring plan designed to optimize the company's manufacturing network. According to the report, these measures are expected to drive long-term performance through 2026, even as the industry grapples with flat sales volumes and a softening pricing environment.

Looking ahead, O-I Glass issued a conservative forecast for 2026, guiding for adjusted earnings between $1.65 and $1.90 per share. This outlook remains slightly below the $1.94 per share target currently held by FactSet analysts, reflecting the cautious sentiment surrounding global glass demand.