O-I Glass, Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - O-I Glass, Inc. (OI) released a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $51 million, or $0.32 per share. This compares with $231 million, or $1.45 per share, in last year's third quarter.

Excluding items, O-I Glass, Inc. reported adjusted earnings of $127 million or $0.80 per share for the period.

Analysts on average had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.0% to $1.74 billion from $1.69 billion last year.

O-I Glass, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $51 Mln. vs. $231 Mln. last year. -EPS (Q3): $0.32 vs. $1.45 last year. -Analyst Estimates: $0.70 -Revenue (Q3): $1.74 Bln vs. $1.69 Bln last year.