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Owens Illinois Inc. Q1 adjusted earnings Beat Estimates

Owens Illinois Inc. (OI) revealed a profit for first quarter that decreased from last year.

The company's profit totaled $50 million, or $0.32 per share. This compares with $79 million, or $0.51 per share, in last year's first quarter.

Excluding items, Owens Illinois Inc. reported adjusted earnings of $64 million or $0.41 per share for the period.

Analysts had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.9% to $1.56 billion from $1.64 billion last year.

Owens Illinois Inc. earnings at a glance:

-Analysts Estimate: $0.40
-Revenue (Q1): $1.56 Bln vs. $1.64 Bln last year.

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