Why O-I Glass Stock Was Falling Today

O-I Glass shares fell 16.34% after missing Q2 earnings expectations with adjusted EPS of $0.09 versus consensus of $0.26. The company cited operational challenges in Europe including competitive pricing pressure and elevated energy costs, resulting in only $6 million operating profit in that region. O-I took an $873 million goodwill impairment charge and cut full-year and 2027 EBITDA guidance due to European headwinds.