April 23, 2018 / 9:31 PM / 5 months ago

BRIEF-Owens-Illinois Reports Q1 EPS Of $0.59 From Continuing Operations

April 23 (Reuters) - Owens-Illinois Inc:

* O-I REPORTS FIRST QUARTER 2018 RESULTS; HIGHER EARNINGS, WITHIN GUIDANCE, ON SALES GROWTH AND MARGIN EXPANSION IN THE AMERICAS AND EUROPE

* OWENS-ILLINOIS EXPECTS FY 2018 ADJUSTED EARNINGS PER SHARE $2.75 TO $2.85

* Q1 SALES $1.7 BILLION VERSUS I/B/E/S VIEW $1.7 BILLION

* Q1 EARNINGS PER SHARE VIEW $0.58 — THOMSON REUTERS I/B/E/S

* COMPANY IS MAINTAINING ITS ANNUAL GUIDANCE FOR EARNINGS AND CASH FLOW

* EXPECTS CASH PROVIDED BY CONTINUING OPERATING ACTIVITIES FOR 2018 TO BE APPROXIMATELY $800 MILLION

* SEES ADJUSTED FREE CASH FLOW TO BE APPROXIMATELY $400 MILLION FOR 2018

* EXPECTS EARNINGS FROM CONTINUING OPERATIONS, AND ADJUSTED EARNINGS, FOR Q2 OF 2018 TO BE APPROXIMATELY $0.75 PER SHARE

* ON TRACK TO REPURCHASE ABOUT $100 MILLION IN SHARES FOR FY 2018

* NO SUBSTANTIVE IMPACT ON COMPANY’S ADJUSTED EARNINGS OR CASH TAXES IS EXPECTED IN 2018 AS A RESULT OF TCJA Source text for Eikon: Further company coverage:

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