Stock Monitor: AptarGroup Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 07, 2018 / If you want access to our free earnings report on Owens-Illinois, Inc. (NYSE: OI) ("OI"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=OI. On April 23, 2018, OI reported financial results for the first quarter of 2018 ending March 31, 2018. The first quarter of 2018 marks the Company's ninth consecutive quarter of higher earnings on a y-o-y basis. OI also surpassed analysts' estimates for earnings as well as revenue in Q1 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for AptarGroup, Inc. (NYSE: ATR), which also belongs to the Consumer Goods sector as the Company Owens-Illinois. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Owens-Illinois most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=OI

Earnings Highlights and Summary

OI's total revenues reached $1.74 billion for Q1 FY18, reflecting an increase of 7.49% from $1.62 billion in Q1 FY17, mostly led by increases in Europe and Americas segments. The reported revenue number exceeded analysts' consensus estimates of $1.71 billion. In the quarter under review, favorable foreign currency translation benefited net sales by $99 million, mainly due to a stronger Euro.

OI's cost of goods sold for the quarter ending March 31, 2018 was $1.42 billion, 9% higher than $1.30 billion in the same period last year. The Company's gross profit advanced 1.27% to $319 million in Q1 FY18 from $315 million in Q1 FY17.

OI incurred selling and administrative expenses of $126 million in Q1 FY18, 5.88% higher than $119 million in Q1 FY17. In the quarter under review, the Company's research, development, and engineering expenses advanced 6.67% to $16 million on a y-o-y basis, while interest expenses fell 20.51% to $62 million on a y-o-y basis.

Net earnings from continuing operations attributable to OI were $98 million in Q1 FY18, an increase of 100% from $49 million in Q1 FY17. The Company's diluted earnings per share from continuing operations also jumped 96.67% to $0.59 in the reported quarter from $0.30 in the previous year's corresponding quarter. The reported earnings for Q1 FY17 included restructuring charges, asset impairment charges, note-repurchase premiums and write?off of finance fees, and related tax impact. OI's adjusted diluted earnings per share (DEPS), excluding these non-recurring items, was $0.59 in Q1 FY18, up 1.72% from $0.58 in Q1 FY17. The reported earnings for Q1 FY18 were at the higher-end of management's guided range of $0.55-$0.60 and exceeded analysts' consensus estimates of $0.58.

Owens-Illinois' Segment Details

During Q1 FY18, the Americas segment's net revenues were $908 million, up 4.49% on a y-o-y basis. The segment had a profit of $147 million in Q1 FY18 compared to $139 million in Q1 FY17, reflecting an increase of 5.76%.

The Europe segment reported revenues of $643 million in Q1 FY18, an increment of 16.06% from the prior year's same quarter. This segment had a profit of $72 million in the quarter under review, up 22.03% from $59 million reported in the previous year's same quarter.

The Asia/Pacific segment generated revenues of $173 million in Q1 FY18, same as in Q1 FY17. This segment's profit fell 75% to $5 million in Q1 FY18 from $20 million in Q1 FY17, mainly due to lower production volume and higher maintenance and supply chain costs.

Cash Matters

OI had cash and cash equivalents of $418 million as on March 31, 2018, an increase of 33.97% from $312 million as on March 31, 2017. The Company had a long-term debt of $5.64 billion at the end of Q1 FY18, up 3.85% from $5.43 billion at the end of Q1 FY17.

OI's cash used in operating activities was $370 million in the three months ending March 31, 2018, compared to $337 million in the same period last year. The Company spent $142 million on purchases of property, plant, and equipment in Q1 FY18, 44.90% higher than the $98 million reported in Q1 FY17.

OI successfully launched its $400 million share repurchase program. The Company repurchased 2 million shares for $45 million in Q1 FY18 and expects to spend approximately $100 million on share repurchases in FY18.

Outlook

For full year 2018, OI expects earnings from continuing operations, and adjusted earnings to be in the range of $2.75 to $2.85 per share, up from adjusted earnings of $2.65 per share in 2017. The Company expects cash flow from continuing operating activities to be approximately $800 million and adjusted free cash flow to be approximately $400 million in FY18.

For the second quarter of 2018, OI expects earnings from continuing operations, and adjusted earnings to be approximately $0.75 per share. The Company expects solid improvement in its on-going business operations to be offset by investments in assets, new technology developments and a higher tax expense.

Stock Performance Snapshot

May 04, 2018 - At Friday's closing bell, Owens-Illinois' stock marginally declined 0.62%, ending the trading session at $19.18.

Volume traded for the day: 2.63 million shares, which was above the 3-month average volume of 1.43 million shares.

After last Friday's close, Owens-Illinois' market cap was at $3.17 billion.

Price to Earnings (P/E) ratio was at 14.35.

The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry. This sector was up 1.7% at the end of the session.

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