Owens Corning (NYSE: OC) reported Q3 EPS of $1.70, $0.42 better than the analyst estimate of $1.28. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.8 billion.

2020 Outlook:

The key economic factors that continue to impact the company’s businesses are global industrial production, U.S. housing starts, and global commercial and industrial construction activity.

The company expects the COVID-19 pandemic will continue to create uncertainty in its end markets. The magnitude of the impact will depend on the depth and duration of the crisis, as well as the timing of the recovery in the markets served by the company.

The company expects to continue to capitalize on near-term market demand, control costs, and sustain strong conversion of adjusted earnings into free cash flow as residential, commercial, and industrial markets recover.

General corporate expenses are currently estimated to be approximately $125 million, compared with its previous estimate of $105 million to $115 million.

Capital additions are expected to be at the high end of our previous guidance of $250 million to $300 million.

Interest expense is estimated to be between $125 million to $130 million, in line with the company’s prior guidance.

The company estimates an effective tax rate of 26% to 28%, and a cash tax rate of 10% to 12% on adjusted pre-tax earnings, which is due to the company’s foreign tax credit carryforwards.

For earnings history and earnings-related data on Owens Corning (OC) click here.