The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: George Staphos - BofA Securities - Analyst
: George Staphos BofA. First of all, thanks for the presentation. Really well done. One question. So it was great to hear about what you're seeing in
terms of consumers perceptions of glass, what your customers are saying about glass, Heineken and the like. Yet when we look at the data over
time, glass has actually declined in the pack mix versus other materials. Domestically in beer is one in particular and broadly.
And so if you agree with that premise, and maybe you don't, the question is, why? Is it you're not glass as a substrate to not resonating enough
with the consumer or the issues more with your broadly, your customer set? And if so, how do you fix that? Where is the disconnect happening.
Thank you.
Question: George Staphos - BofA Securities - Analyst
: Gordon, just if I could, just a quick follow-on on that. How important and how attackable are the filling and distribution current, recognizing you're
going to improve on their current cost disadvantage for glass in terms of driving ultimately the pickup in volume. If you can touch on that?
Question: George Staphos - BofA Securities - Analyst
: Thanks, Chris. Again, thanks, everybody, for the questions and the answers and the details. George Staphos BofA. So as we sit here today, stocks
at $11.50, give or take, you put up, I think one of the most interesting parts of your presentation, you expect you presented a 4% spread over WACC
over time. In the time that we've covered the sector, we have rarely seen companies hit that if for a year, let alone sustain that and a little on O-I.
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