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O-I Glass, Inc. (OI) manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. 
The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.
It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.
In addition, the company offers glass containers in a range of sizes, shapes, and colors. It sells its products directly to customers under annual or multi-year supply agreements, as well as through distributors. Shares have formed a bullish "flag" following the company's recent earnings report.
On Januay 31st, OI reported Quarter December 2022 earnings of $0.38 per share on revenue of $1.7 billion. The consensus earnings estimate was $0.32 per share on revenue of $1.6 billion. Revenue grew 6.6% on a year-over-year basis.
Guided Higher: The company said it expects first quarter earnings of $0.80 to $0.85 per share and 2023 earnings of more than $2.50 per share. The current consensus estimate is earnings of $0.51 per share for the quarter ending March 31, 2023 and earnings of $2.26 per share for the year ending December 31, 2023. Higher share prices are expected.
