Owens Corning (OC) Tops Q2 EPS by 50c

Owens Corning (NYSE: OC) reported Q2 EPS of $3.83, $0.50 better than the analyst estimate of $3.33. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.58 billion.

GUIDANCE:

Third-Quarter and Full-Year 2022 Outlook

• The key economic factors that impact the company’s businesses are residential repair and remodeling activity, U.S. housing starts, global commercial construction activity, and global industrial production.
• In the near term, the company expects the U.S. residential housing market and global commercial and industrial markets to remain positive. The company continues to closely manage the ongoing impacts of inflation, supply chain disruptions, and the regional impacts of the COVID-19 pandemic on the business.
• For third-quarter 2022, the company expects overall performance to result in net sales and adjusted EBIT growth for the quarter, versus the comparable quarter in the prior year.

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

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