OI Stock Forecast & Price Target

O-I Glass is benefiting from a meaningful operational and cultural reset, with Fit to Win driving margin enhancement, revenue optimization, and cost reduction through SG&A cuts, productivity gains, network optimization, and trapped-capacity unlocking. In the Americas, EBIT is on track to rise about 50% versus 2024 despite a slight reduction from the original ~60% guide due to US-Canada tariffs, while Latin America is outperforming even as North American volumes lag. The company’s push into food, spirits, wine, and non-alcoholic beverages, plus premium and mainstream mix diversification, should support volume growth and help EBITDA and free cash flow accelerate as it targets $650M of cumulative cost savings and a 2027 EBITDA estimate of $1,208M.

O-I Glass is under pressure from soft glass volumes, especially in beer, wine, and spirits, while competitor oversupply in Europe and elevated energy and freight costs are squeezing pricing and margins. The company reported adjusted operating EPS of -$0.09 versus expectations for a profit, and lowered 2026 EBITDA guidance to $925 million-$950 million with FCF now expected at -$300 million, signaling weak conversion and delayed deleveraging. Although Americas execution and new customer wins are helping, Europe remains the key drag, and the lack of sustainable FCF recovery keeps the turnaround thesis fragile.