O-I Glass, Inc. reported a net loss of $5 million, or $0.03 per share, for the second quarter of 2025, a significant decline from net earnings of $57 million, or $0.36 per share, in the same period last year. The company’s total net sales for the quarter were $1.706 billion, down 1% from $1.729 billion in the prior year, primarily due to lower average selling prices and a decrease in sales volumes, which were partially offset by favorable foreign currency translation effects. For the first half of 2025, O-I Glass recorded a net loss of $20 million, compared to net earnings of $129 million in the first half of 2024, with total net sales decreasing to $3.273 billion from $3.322 billion.
The company’s segment operating profit for the second quarter was $225 million, down from $233 million in the same quarter of 2024. The Americas segment saw an increase in operating profit to $135 million, up 27% year-over-year, driven by higher shipments and selling prices. In contrast, the Europe segment experienced a 29% decline in operating profit to $90 million, attributed to lower selling prices and reduced shipments, particularly to beer, wine, and spirits customers. The overall decrease in segment operating profit was influenced by higher restructuring and asset impairment charges, which totaled approximately $108 million for the quarter, including $104 million related to the decision to halt the MAGMA program.
O-I Glass has been actively pursuing its "Fit to Win" initiative, aimed at optimizing its production capacity and reducing costs. The company anticipates generating at least $250 million in benefits from this initiative in 2025, with cumulative benefits expected to reach $650 million by 2027. However, the company also announced plans for the indefinite suspension of operations at one furnace and the closure of a plant in the Americas segment, which are expected to incur additional charges of approximately $45 million in the third quarter of 2025.
As of June 30, 2025, O-I Glass reported total assets of $9.179 billion, an increase from $8.654 billion at the end of 2024. The company’s cash and cash equivalents stood at $487 million, down from $734 million at the end of the previous year. The company’s long-term debt increased to $4.898 billion, up from $4.553 billion at the end of 2024. Looking ahead, O-I Glass maintains a cautious outlook, expecting stable sales volumes in 2025 compared to 2024, while also navigating uncertainties related to tariffs and macroeconomic conditions.
About O-I Glass, Inc. /DE/
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