Owens Corning Reports Second-Quarter 2018 Results
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Owens Corning (OC) Misses Q2 EPS by 28c, Slight Miss on Revenues; Offers FY18 Updated Outlook
July 25, 2018 6:32 AM EDTOwens Corning (NYSE: OC) reported Q2 EPS of $1.17, $0.28 worse than the analyst estimate of $1.45. Revenue for the quarter came in at $1.82 billion versus the consensus estimate of $1.86 billion.
Company Grew Net Sales by 14% to $1.8 Billion;Pricing Momentum Expected to Drive Strong Second-Half Performance Improvement,Resulting in an Adjusted EBIT Outlook of $925 Million to $975 Million for 2018Insulation grew EBIT by $20 million, despite manufacturing productivity headwindsRoofing produced 19% EBIT margins on strong sequential price improvementComposites declined to $71 million of EBIT on higher manufacturing costsFull-year outlook continues to reflect strong free... More