Owens-Illinois: 4Q Earnings Snapshot
PERRYSBURG, Ohio (AP) _ Owens-Illinois Inc. (OI) on Tuesday reported a loss of $10 million in its fourth quarter.
On a per-share basis, the Perrysburg, Ohio-based company said it had a loss of 6 cents. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The glass container manufacturer posted revenue of $1.64 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $1.68 billion.
For the year, the company reported profit of $257 million, or $1.59 per share. Revenue was reported as $6.88 billion.
Owens-Illinois expects full-year earnings to be $3 per share.
Owens-Illinois shares have risen 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. In the final minutes of trading on Tuesday, shares hit $19.87, a fall of almost 6 percent in the last 12 months.