O-I Glass has reported strong third-quarter earnings for 2025, with net sales of $1.7 billion.
The glass manufacturer's financial results for its third quarter ended on September 30, 2025.
Net sales were consistent with the prior year period at $1.7 billion.
They benefited from higher average selling prices and favourable currency translation.
Sales volume (in tons) was down as modest growth in the non-alcoholic beverages (NAB), food, and ready-to-drink (RTD) categories was more than offset by lower beer and wine.
However, trends improved over the quarter and volume was nearly flat with the prior year in September.
Earnings before income taxes totalled $58 million, an improvement of $115 million compared to a loss before income taxes of $57 million in the same period last year.
This increase primarily reflected a $91 million rise in segment operating profit, which reached $235 million in the third quarter, up from $144 million in the same period of 2024.
Gordon Hardie, CEO of O-I Glass, said: “O-I delivered strong third-quarter earnings along with substantially higher margins compared to the prior year period.
“Building on a stable top-line, we achieved much better results through disciplined execution of Fit to Win initiatives, higher production efficiency, and a favourable net price.”
Mr Hardie said O-I would continue to execute its Fit to Win initiative, which delivered $75 million of benefits in Q3 and a total of $220 million year-to-date.
He said: “We are on pace to exceed our $250 million annual 2025 target for Fit to Win benefits.
“As a result, O-I expects to achieve higher adjusted earnings, improved margins, greater free cash flow, and a healthier balance sheet in 2025.”
Q3 results
In the Americas, segment operating profit rose to $140 million, up from $88 million in the prior year period, a 59% improvement.
Better results were driven by lower operating costs due to savings from O-I’s Fit to Win initiatives as well as favourable net price.
As expected, sales volumes declined moderately due to continued subdued consumer demand, inventory corrections in the beer value chain, and intentionally exiting unprofitable business.
In Europe, segment operating profit increased to $95 million, up from $56 million in the prior year period, a 70% increase.
Better results were driven by favourable operating costs reflecting higher production levels and benefits from Fit to Win initiatives.
As expected, net price was a headwind, and sales volume, while down modestly, was flat excluding the impact of a major project start-up.
Outlook
Looking to the future, Mr Hardie said: “We expect continued momentum in 2026 and beyond, with further increases in adjusted earnings and free cash flow as we implement our strategy.
“Ongoing execution of Fit to Win sets O-I up well to achieve its 2027 objectives and transition to profitable growth beyond 2027.”
