Continued strong business performance and favourable non-operational tailwinds drive 2017 earnings guidance higher, reports Owens-Illinois, Inc. who reported on 2 August financial results for the second quarter ended 30 June 2017. For the second quarter, earnings from continuing operations were USD 0.85 per share (diluted), compared with USD 0.65 per share in 2016, primarily driven by improved segment operating profit and lower interest and tax expense. Excluding certain items management considers not representative of ongoing operations, adjusted earnings were USD 0.75 per share, up 15% compared with prior year. This exceeded management’s second quarter guidance of USD 0.63 to USD 0.68 per share, largely due to a four cent per share benefit from a tax audit settled late in the quarter.
