PERRYSBURG, Ohio, April 30, 2024 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE                          O-I Glass, Inc. ("O-I") (NYSE:OI) today reported financial results for the first quarter ended March 31, 2024.   Net Earnings Attributable to the Company Per Share (Diluted) Earnings Before Income Taxes$M 1Q24 1Q23 1Q24 1Q23 Reported $0.45 $1.29 $117 $270   Adjusted EarningsEarnings Per Share (Diluted) Segment Operating Profit$M 1Q24 1Q23 1Q24 1Q23 Non - GAAP N/A (no adjustments reported) N/A (no adjustments reported) $235 $398 "As expected, our first quarter net earnings per share (diluted) were down from historically high performance in the prior year quarter. Lower results primarily reflected the current market downturn that has impacted shipment levels due to softer consumer consumption and inventory destocking across the value chain. While recent consumption trends have been softer than originally anticipated, we have noted a gradual improvement in our year-over-year glass shipment trends since the fourth quarter of 2023. We remain confident in the long-term favorable trajectory for glass packaging demand and strong earnings potential as markets recover over time. Furthermore, we are excited for the start-up of our first MAGMA greenfield plant this summer, as we expect this new innovative technology will create a significant competitive advantage for our company well into the future," said Andres Lopez, O-I Glass CEO. Net sales were $1.6 billion in the first quarter of 2024 compared to $1.8 billion in the prior year reflecting slightly lower average selling prices and a 12.5 percent decline in sales volume (in tons). These headwinds were partially offset by favorable foreign currency translation. Earnings before income taxes was $117 million in the first quarter of 2024 which was down from $270 million in the prior year period, primarily due to lower segment operating profit and higher interest expense which were partially offset by lower retained corporate and other costs. Segment operating profit was $235 million in the first quarter compared to $398 million in the same period of 2023. Americas: Segment operating profit in the Americas was $102 ...