O-I Glass reported a third-quarter loss, cut its 2026 earnings outlook and withdrew its 2027 targets after price pressure and higher European costs hit profit.
O-I Glass reported a third-quarter 2026 loss and cut its outlook for the year, withdrawing its 2027 targets, according to the company's October 27 earnings release furnished with the Securities and Exchange Commission. The glass packaging maker reported a net loss of $13 million, or $0.08 a share, against net earnings of $30 million, or $0.19 a share, in the third quarter of 2025.
On an adjusted basis, the company lost $15 million, or $0.09 a share, against adjusted earnings of $75 million, or $0.48 a share, a year earlier. Net sales were approximately $1.623 billion, down 2 percent from $1.653 billion in the prior-year period, as favorable currency translation partly offset slightly lower selling prices and a 2 percent decline in sales volume. Adjusted EBITDA fell to $234 million from $329 million, and segment operating profit fell to $139 million from $235 million.
Management attributed the shortfall to net price pressure and an unusually high tax rate. Results also lagged internal expectations because energy and freight costs in Europe ran roughly $15 million higher than anticipated entering the quarter. By geography, revenue was $970 million in the Americas and $634 million in Europe, where sales fell 7.9 percent year over year.
The loss, sales and guidance figures come from the company's release, and Zacks and MarketBeat both report the same $0.09 adjusted loss and $1.62 billion in sales. Market-data providers disagree on what analysts had expected for the quarter, so this report does not grade the result against a consensus estimate. Shares fell in after-hours trading following the release.
With 2027 targets withdrawn, investors have no company forecast to measure a recovery against until O-I issues new guidance. Europe, where energy and freight costs ran higher than expected, was the weak spot in the quarter, and the cut to the 2026 earnings outlook confirms that the pressure is expected to persist into the final quarter.