Owens-Illinois Beats Expectations But Takes A Step Back Anyway
Owens-Illinois (NYS: OI) reported earnings on Jan. 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Owens-Illinois met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP loss per share dropped.
Gross margins shrank, operating margins dropped, net margins expanded.
Owens-Illinois chalked up revenue of $1.75 billion. The nine analysts polled by S&P Capital IQ expected to see revenue of $1.74 billion on the same basis. GAAP reported sales were 3.9% lower than the prior-year quarter's $1.82 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.40. The 12 earnings estimates compiled by S&P Capital IQ anticipated $0.37 per share. GAAP EPS were -$0.98 for Q4 versus -$4.70 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.9%, 80 basis points worse than the prior-year quarter. Operating margin was 6.6%, 190 basis points worse than the prior-year quarter. Net margin was -9.2%, 3,320 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.70 billion. On the bottom line, the average EPS estimate is $0.63.
Next year's average estimate for revenue is $7.14 billion. The average EPS estimate is $2.82.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 350 members out of 377 rating the stock outperform, and 27 members rating it underperform. Among 102 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 95 give Owens-Illinois a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Owens-Illinois is outperform, with an average price target of $25.09.
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The article Owens-Illinois Beats Expectations But Takes A Step Back Anyway originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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