O-I Glass, Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - O-I Glass, Inc. (OI) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $13 million, or $0.08 per share. This compares with $43 million, or $0.27 per share, in last year's fourth quarter.

Excluding items, O-I Glass, Inc. reported adjusted earnings of $60 million or $0.38 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.3% to $1.69 billion from $1.59 billion last year.

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

-Earnings (Q4): $13 Mln. vs. $43 Mln. last year. -EPS (Q4): $0.08 vs. $0.27 last year. -Analyst Estimates: $0.32 -Revenue (Q4): $1.69 Bln vs. $1.59 Bln last year.