O-I Glass, Inc.

Hello, everyone, and welcome to the OIGlass third quarter 2023 earnings conference call. My name is Nadia, and I'll be coordinating the call today. If you would like to ask a question, please press star followed by one on your telephone keypad. I will now hand over to your host, Chris Manuel, Vice President of Investor Relations, to begin. Chris, please go ahead.

Thank you, Nadia, and welcome, everyone, to the OIGlass third quarter conference call. Our discussion today will be led by Andres Lopez, our CEO, and by John Hodrick, our CFO. Today we will discuss key business developments and review our financial results. Following prepared remarks, we will host a Q&A session. Presentation materials for this earnings call are available on the company's website. Please review the Safe Harbor comments and disclosure of our use of non-GAAP financial measures included in those materials. Now I'd like to turn the call over to Andres, who will start on slide three.

Good morning, everyone, and thanks for your interest in OI. We are pleased to announce strong third quarter results as the company continues to execute well in a challenging macro environment. OI reported adjusted earnings of 80 cents per share, which exceeded our expectations and represented a 27% increase from the prior year. The company benefited from strong net price realization and solid operating performance amid softer than expected demand. As a result, The top line was up as we improved our segment operating profit, our margins, and our adjusted earnings. In addition to solid results, we continue to advance our strategy. Our margin expansion efforts are well ahead of target, and our first magma greenfield plant in Bowling Green, Kentucky, remains on track for a mid-2024 ramp-up. Likewise, we achieved our full-year balance sheet objective ahead of plan. We expect a strong 2023 results with adjusted earnings up 30% from the prior year, which will represent the best performance in the past 15 years. We will share our view on recent market trends. Chipments have been softer than anticipated as demand has temporarily decoupled from consumer consumption due to significant inventory stocking across the value chain. While we are not immune to the broader macro dynamics we are executing effectively and taking a number of actions to drive a strong performance as conditions recover. We will conclude with our initial thoughts on key business drivers for 2024. Now I'll turn it over to John, who will review our recent performance and 2023 outlook in greater detail starting on slide four. Thanks, Anders, and good morning, everyone.