Owens-Illinois (OI) Tops Q1 Earnings & Sales, Reaffirms View
Zacks Investment Research | Apr 25, 2017 01:56AM ET
Owens-Illinois, Inc. (NYSE:OI) reported first-quarter 2017 adjusted earnings per share of 58 cents, surpassing the Zacks Consensus Estimate of 53 cents. In addition, earnings jumped 21% year over year and exceeded the management guidance range of 50–55 cents per share.
Including one-time items, the company’s earnings decreased to 30 cents per share in the quarter from 42 cents recorded in the year-ago quarter.
Operational Update
Owens-Illinois’ net sales went up 2% year over year to $1.62 billion. Revenues also beat the Zacks Consensus Estimate of $1.58 billion. Sales volumes advanced 2% year over year. Currency translation adversely affected net sales by less than 1%. On a global basis, pricing was up less than 1%.
Owens-Illinois, Inc. Price, Consensus and EPS Surprise
Glass Products sub-industry with respect to price performance. The stock gained around 16.6%, while the industry recorded growth of 14.4% over the same time frame.
Zacks Rank & Key Picks
Owens-Illinois currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector are Donaldson Company, Inc. (NYSE:DCI) , Casella Waste Systems, Inc. (NASDAQ:CWST) and Parker-Hannifin Corp. (NYSE:PH) . All the three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see .
Donaldson Company has an average positive earnings surprise of 5.93% for the trailing four quarters. Casella Waste generated an outstanding average positive earnings surprise of 165.21% over the past four quarters, while Parker-Hannifin has an average positive earnings surprise of 12.44% for the last four quarters.
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