O-I Glass, Inc. OI announced that it reached a milestone by successfully testing 100% biofuel in its Harlow, UK-based plant. The trial replaced natural gas in the glass-making furnace. This move demonstrates O-I Glass’ continuous innovation and ability to unlock sustainability opportunities.

This achievement is part of a broader initiative led by Glass Futures, a U.K.-based glass R&D organization. This initiative was in collaboration with the U.K. government's Net Zero Innovation Portfolio program, which aims to explore sustainable fuel options for the U.K. glass industry. O-I Glass’ participation in this program demonstrates its strong commitment to driving sustainability in the industry.

Highlights From OI’s Trial

The successful trial in Harlow confirms the viability of alternative fuels, paving the way for exciting opportunities. 

The Harlow plant achieved a significant reduction in greenhouse gas emissions for its amber bottle production. It used a combination of biofuel and cutting-edge technologies, including cullet preheating, high cullet usage of 88% throughout the trial and an oxy-fuel furnace.

The successful trial reveals the viability of large-scale biofuel adoption. The results suggest that the company can integrate this solution into its full-scale production once biofuels become widely available and economically viable.

O-I Glass’ Focus on Lowering Emission

On March 25, 2025, OI announced that it collaborated with Linde plc LIN to install its proprietary OPTIMELTTM Thermochemical Regenerator technology at OI’s container glass plant in Holzminden, Germany. This move will help O-I Glass in improving efficiency and reducing emissions.

Building on their existing partnership, wherein LIN has been supplying oxygen to OI, the companies are now broadening their collaboration. Linde will provide innovative, cost-effective solutions to support O-I Glass in its efforts to reduce carbon emissions and achieve a more sustainable future.

Under the collaboration, LIN will install an advanced Centrifugal VITRON Vacuum Pressure Swing Adsorption plant at O-I Glass’ Holzminden plant to produce oxygen for the furnace. This will improve power efficiency, reduce noise emissions and lower the environmental footprint for O-I Glass.

OI’s Q4 Performance

O-I Glass reported a fourth-quarter 2024 adjusted loss per share of 5 cents, which beat the Zacks Consensus Estimate of a loss of 11 cents. The company posted earnings of 12 cents in the year-ago quarter. The downside was led by significant production curtailment due to sluggish demand.

Revenues were $1.53 billion for the quarter under review, down 6.8% from the year-ago quarter due to lower average selling prices and unfavorable foreign currency translation. The top line missed the Zacks Consensus Estimate of $1.61 billion. Sales volume (in tons) was flat year over year.

Story Continues

Performance of Another Packaging Stock in Q4

Packaging Corporation of America PKG reported an adjusted EPS of $2.47 in the fourth quarter of 2024, which missed the Zacks Consensus Estimate of $2.51 by a margin of 2%. The bottom line matched PKG’s guidance and grew 16% year over year. The upside was driven by higher prices and mix, improved volume in both segments, and lower freight and logistics expenses.

However, these gains were somewhat offset by an increase in operating costs, scheduled maintenance outage expenses, depreciation expenses and other expenses.

Revenues in the fourth quarter rose 10.7% year over year to $2.15 billion due to higher volumes and price/mix in both segments. The top line beat the Zacks Consensus Estimate of $2.13 billion.

Performance of Another Glass Products Stock

O-I Glass belongs to Zacks’ Glass Products industry along with Apogee Enterprises, Inc. APOG. 

Let us see how APOG performed in its last reported earnings. 

Apogee reported adjusted earnings per share (EPS) of $1.19 for third-quarter fiscal 2025 (ended Nov. 30, 2024), surpassing the Zacks Consensus Estimate of $1.14. The bottom line marked a 3% drop from the prior-year quarter.

APOG attributed the decline to unfavorable sales leverage impacts of lower volume, a less favorable product mix, and higher incentive compensation and lease expenses, partially offset by a more favorable mix of projects in Architectural Services and lower insurance-related costs.

Apogee’s net revenues inched up 0.5% year over year to $341 million in the quarter under review. A $8.8-million contribution from the acquisition of UW Solutions and a more favorable mix of projects in Architectural Services were partially offset by a less favorable mix in Architectural Framing Systems and a lower volume in Architectural Glass.

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