O-I Glass Q1 loss triples to $73M as Europe profit collapses on energy cost surge

Filed April 29, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 30, 2025 · ~2 min read

Key Changes

• high

  Europe segment operating profit fell to zero in Q1 2026 from $68M in Q1 2025, driven by $76M headwind from energy contract expirations and competitive pressure. Favorable energy contracts expired end-2025, causing ~$150M annual energy cost step-up in Europe.

  MD&A: Europe Segment verify on EDGAR →
• high

  Net loss widened to $73M ($0.48/share) in Q1 2026 vs $16M ($0.10/share) in Q1 2025, a $57M deterioration. Consolidated segment operating profit fell 32% to $142M as glass shipments dropped 9% amid softer beer, wine, spirits demand.

  MD&A: Results Overview verify on EDGAR →
• high

  Operating cash usage increased to $294M in Q1 2026 from $171M in Q1 2025, driven by larger net loss, higher working capital usage ($376M vs $314M), and increased restructuring/pension payments. Full-year 2026 operating cash flow guided to $500-600M range.

  MD&A: Cash Flow verify on EDGAR →