FOR IMMEDIATE RELEASE
For more information,
contact:
Alexandra (Sasha) Sekpeh
Perrysburg, Ohio, US
(567) 336 5128
Alexandra.Sekpeh@o-i.com
O-I to Host
Investor Day on November 14, 2018
PERRYSBURG, Ohio (Nov. 1, 2018) - Owens-Illinois,
Inc. (NYSE: OI) today announced that it will host an investor day
on November 14, 2018. Chief Executive Officer, Andres Lopez, will
present the Company's drivers for continued growth, value-creation
and success as well as a refreshed investment thesis that is
evolutionary and consistent with the Company's ongoing
transformation.
John Haudrich, Chief Strategy & Integration
Officer, will discuss how the Company will achieve our strategic
ambitions. Jan Bertsch, Chief Financial Officer, will present the
Company's key financial metrics, as well as cash generation and
capital allocation. The event will conclude with a Q&A session
including other members of the global leadership team.
The invitation-only event will take place in New
York City. A live webcast of the event will begin at 8:30 a.m. EST
and presentation materials will be available on the O-I website,
www.o-i.com/investors, in the Presentations & Webcast section.
A replay of the webcast will be available following the call.
###
About O-I
Owens-Illinois, Inc. (NYSE: OI) is the world's
largest glass container manufacturer and preferred partner for many
of the world's leading food and beverage brands. The Company had
revenues of $6.9 billion in 2017 and employs more than 26,500
people at 78 plants in 23 countries. With global headquarters in
Perrysburg, Ohio, O-I delivers safe, sustainable, pure, iconic,
brand-building glass packaging to a growing global marketplace. For
more information, visit o-i.com.
Non-GAAP Financial
Measures
The Company uses certain non-GAAP financial
measures, which are measures of its historical or future financial
performance that are not calculated and presented in accordance
with GAAP, within the meaning of applicable SEC rules. Management
believes that its presentation and use of certain non-GAAP
financial measures, including adjusted earnings, adjusted earnings
per share, segment operating profit, segment operating profit
margin and adjusted free cash flow, provide relevant and useful
supplemental financial information, which is widely used by
analysts and investors, as well as by management in assessing both
consolidated and business unit performance. These non-GAAP measures
are reconciled to the most directly comparable GAAP measures and
should be considered supplemental in nature and should not be
considered in isolation or be construed as being more important
than comparable GAAP measures.
Adjusted earnings relates to net earnings from
continuing operations attributable to the Company, exclusive
of items management considers not representative of ongoing
operations because such items are not reflective of the Company's
principal business activity, which is glass container production.
Adjusted earnings are divided by weighted average shares
outstanding (diluted) to derive adjusted earnings per share.
Segment operating profit relates to earnings from continuing
operations before interest expense (net), and before income taxes
and is also exclusive of items management considers not
representative of ongoing operations. Segment operating profit
margin is segment operating profit divided by segment net sales.
Management uses adjusted earnings, adjusted earnings per share,
segment operating profit and segment operating profit margin to
evaluate its period-over-period operating performance because it
believes this provides a useful supplemental measure of the results
of operations of its principal business activity by excluding items
that are not reflective of such operations. Adjusted earnings,
adjusted earnings per share, segment operating profit and segment
operating profit margin may be useful to investors in evaluating
the underlying operating performance of the Company's business as
these measures eliminate items that are not reflective of its
principal business activity.
Further, adjusted free cash flow relates to cash
provided by continuing operating activities less additions to
property, plant and equipment plus asbestos-related payments.
Management uses adjusted free cash flow to evaluate its
period-over-period cash generation performance because it believes
this provides a useful supplemental measure related to its
principal business activity. Adjusted free cash flow may be useful
to investors to assist in understanding the comparability of cash
flows generated by the Company's principal business activity. Since
a significant majority of the Company's asbestos-related claims are
expected to be received in the next ten years, adjusted free cash
flow may help investors to evaluate the long-term cash generation
ability of the Company's principal business activity as these
asbestos-related payments decline. It should not be inferred that
the entire adjusted free cash flow amount is available for
discretionary expenditures, since the Company has mandatory debt
service requirements and other non-discretionary expenditures that
are not deducted from the measure. Management uses non-GAAP
information principally for internal reporting, forecasting,
budgeting and calculating compensation payments.
The Company routinely posts important information
on its website - www.o-i.com/investors.
Forward-Looking
Statements
This document contains "forward-looking"
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act") and Section
27A of the Securities Act of 1933. Forward-looking statements
reflect the Company's current expectations and projections about
future events at the time, and thus involve uncertainty and risk.
The words "believe," "expect," "anticipate," "will," "could,"
"would," "should," "may," "plan," "estimate," "intend," "predict,"
"potential," "continue," and the negatives of these words and other
similar expressions generally identify forward-looking statements.
It is possible the Company's future financial performance may
differ from expectations due to a variety of factors including, but
not limited to the following: (1) foreign currency fluctuations
relative to the U.S. dollar, (2) changes in capital availability or
cost, including interest rate fluctuations and the ability of the
Company to refinance debt at favorable terms, (3) the general
political, economic and competitive conditions in markets and
countries where the Company has operations, including uncertainties
related to economic and social conditions, disruptions in the
supply chain, competitive pricing pressures, inflation or
deflation, and changes in tax rates and laws, (4) the Company's
ability to generate sufficient future cash flows to ensure the
Company's goodwill is not impaired, (5) consumer preferences for
alternative forms of packaging, (6) cost and availability of raw
materials, labor, energy and transportation, (7) the Company's
ability to manage its cost structure, including its success in
implementing restructuring plans and achieving cost savings, (8)
consolidation among competitors and customers, (9) the Company's
ability to acquire businesses and expand plants, integrate
operations of acquired businesses and achieve expected synergies,
(10) unanticipated expenditures with respect to environmental,
safety and health laws, (11) unanticipated operational disruptions,
including higher capital spending, (12) the Company's ability to
further develop its sales, marketing and product development
capabilities, (13) the failure of the Company's joint venture
partners to meet their obligations or commit additional capital to
the joint venture, (14) the Company's ability to prevent and detect
cybersecurity threats against its information technology systems,
(15) the Company's ability to accurately estimate its total
asbestos-related liability or to control the timing and occurrence
of events related to outstanding asbestos-related claims, including
but not limited to settlements of those claims, (16) changes in
U.S. trade policies, (17) the Company's ability to achieve its
strategic plan, and the other risk factors discussed in the Annual
Report on Form 10-K for the year ended December 31, 2017 and the
Company's other filings with the Securities and Exchange
Commission. It is not possible to foresee or identify all such
factors. Any forward-looking statements in this document are based
on certain assumptions and analyses made by the Company in light of
its experience and perception of historical trends, current
conditions, expected future developments, and other factors it
believes are appropriate in the circumstances. Forward-looking
statements are not a guarantee of future performance and actual
results or developments may differ materially from expectations.
While the Company continually reviews trends and uncertainties
affecting the Company's results of operations and financial
condition, the Company does not assume any obligation to update or
supplement any particular forward-looking statements contained in
this document.
O-I Logo
O-I to Host Investor Day on November 14, 2018
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Owens-Illinois, Inc. via Globenewswire
OI Glass (NYSE:OI)
Historical Stock Chart
From Mar 2024 to Apr 2024
OI Glass (NYSE:OI)
Historical Stock Chart
From Apr 2023 to Apr 2024