February 6, 2018 / 11:23 PM / 10 months ago

BRIEF-Owens-Illinois Reports Q4 Adjusted Earnings Per Share $0.55

Feb 6 (Reuters) - Owens-Illinois Inc:

* O-I REPORTS FULL YEAR AND FOURTH QUARTER 2017 RESULTS; COMPANY DELIVERS STRONG FINANCIAL PERFORMANCE FOR 2017 AND EXPECTS HIGHER EARNINGS AND CASH FLOW GENERATION IN 2018

* Q4 ADJUSTED EARNINGS PER SHARE $0.55

* ‍COMPANY EXPECTS EARNINGS FROM CONTINUING OPERATIONS, AND ADJUSTED EARNINGS, FOR FY 2018 TO BE IN RANGE OF $2.75 TO $2.85 PER SHARE​

* EXPECTS TO REPURCHASE ABOUT $100 MILLION IN SHARES IN 2018

* OWENS-ILLINOIS- CONTINUES TO REDUCE PENSION BENEFIT OBLIGATIONS; IN 2017, EXECUTED SERIES OF TRANSACTIONS THAT REDUCED ITS PBO BY MORE THAN $500 MILLION

* OWENS-ILLINOIS - BOARD OF DIRECTORS AUTHORIZED $400 MILLION SHARE REPURCHASE PROGRAM

* OWENS-ILLINOIS - LOWER RATE IN 2017 PRIMARILY DUE TO RESOLUTION OF TAX MATTER THAT RESULTED IN ABOUT $26 MILLION OF TAX ACCRUALS BEING REVERSED IN 2017

* OWENS-ILLINOIS - ‍CO EXPECTS CASH PROVIDED BY CONTINUING OPERATING ACTIVITIES FOR 2018 TO BE ABOUT $800 MILLION ,ADJUSTED FREE CASH FLOW TO BE ABOUT $400 MILLION​

* REPORTS FY 2017 ADJUSTED EARNINGS PER SHARE $2.65

* OWENS-ILLINOIS - CHARGES IN 2017 INCLUDE $218 MILLION OF NON-CASH PENSION SETTLEMENT CHARGES RELATED TO CONTINUED DE-RISKING OF COMPANY'S PENSION PLANS Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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