Shares of Owens-Illinois (OI), also known as O-I Glass, surged 8.77% in pre-market trading on Wednesday, following the company's impressive second-quarter earnings report released after the market close on Tuesday. The glass container manufacturer significantly outperformed analysts' expectations and raised its full-year guidance, sparking investor enthusiasm.

O-I Glass reported adjusted earnings of $0.53 per share for the quarter ended June 30, surpassing the mean analyst estimate of $0.41 per share. This represents a substantial improvement from the $0.44 per share earned in the same quarter last year. While revenue slightly declined by 1.3% to $1.71 billion, it still managed to edge past analysts' projections of $1.70 billion.

Adding to the positive sentiment, O-I Glass raised its full-year 2025 adjusted earnings per share guidance to a range of $1.30 to $1.55, up from the previous forecast of $1.20 to $1.50. This optimistic outlook suggests that the company anticipates continued strong performance throughout the year. The stock's significant pre-market jump follows a 6% rise in after-hours trading immediately following the earnings release, indicating sustained investor confidence in the company's prospects.