O-I Glass cuts 2026 guidance, weighs European plant closure after Q3 loss
O-I Glass has started a process that could lead to closing a European production plant and has cut its 2026 adjusted EBITDA guidance to USD 925m-950m from USD 1,000m-1,100m, after third-quarter profit fell sharply on European price pressure, weak demand and energy inflation. The company withdrew its 2027 targets and now expects 2026 free cash flow of about negative USD 300m, worse than a prior forecast outflow of USD 50m-150m. Q3 2026 net sales fell to USD 1,620m from USD 1,650m a year earlier and the group swung to a net loss, with full-year shipments now expected down 3-4% and European earnings pressured into the first quarter of 2027.
Why this mattersO-I blames overcapacity and weak demand in Europe, where its segment margin fell to 0.3%; a plant closure would take capacity out of an oversupplied market.
- O-I Glass has started a process that could lead to the closure of a European production plant
- 2026 adjusted EBITDA guidance cut to USD 925m-950m from a prior USD 1,000m-1,100m, and 2027 targets withdrawn
- 2026 free cash flow guidance revised to roughly negative USD 300m from a prior outflow of USD 50m-150m
- Q3 2026 net sales fell to USD 1,620m from USD 1,650m a year earlier, with a net loss of USD 13m versus net income of USD 30m a year earlier
- Europe segment operating profit fell to USD 2m from USD 95m, cutting the segment margin to 0.3% from 13.8%
- Full-year 2026 shipments are now expected to fall 3-4%, with European earnings pressured into the first quarter of 2027