Owens Corning Reports First-Quarter 2020 Results
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Owens Corning (OC) Tops Q1 EPS by 6c, Revenues Miss
April 29, 2020 6:19 AM EDTOwens Corning (NYSE: OC) reported Q1 EPS of $0.60, $0.06 better than the analyst estimate of $0.54. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.64 billion.
Company Delivered Net Sales of $1.6 BillionCompany delivered strong results in a challenging environmentRoofing produced $64 million of EBIT; maintained 12% EBIT marginsInsulation delivered $39 million of EBIT; doubled EBIT margins to 6%Composites generated $44 million of EBIT; posted EBIT margins of 9%Company recorded non-cash pre-tax impairment charges of $987 million related to the Insulation... More