Takeaways From O-I Glass Investor Day
<p><a href='https://financialmodelingprep.com/financial-summary/OI'>O-I Glass, Inc. (NYSE:OI) </a>hosted its 2021 Investor Day via virtual format yesterday. Since the last investor day in 2018, the company has focused on having a more agile operating network, shifting its mix away from declining categories, derisking legacy liabilities, and deleveraging. </p>
<p>Now growth appears to be the driver of value creation and the company is betting on its MAGMA technology going forward. As a result, free cash flow and deleveraging are expected to be limited over the next three years. </p>
<p>At roughly 4x leverage currently, analysts at Deutsche Bank argue that debt reduction should remain a priority, especially considering growth in glass packaging has typically proved elusive. However, growth versus cash generation is a fine line to manage. </p>
<p>Overall, the brokerage maintains its Hold rating as it believes the company remains somewhat of a show-me story with MAGMA being implemented, but acknowledges the improvements the company has already made to have a more flexible operating structure.</p>

NYSE:OI