JPMorgan Downgrades Owens Corning (OC) to Neutral
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Owens Corning (OC) Revises FY12 EBIT Outlook; Cites Uncertainty in Roofing
October 9, 2012 7:31 AM EDTOwens Corning (NYSE: OC) lowered its 2012 earnings outlook, reflecting a weaker environment for its Roofing and Composites businesses. Full-year adjusted earnings before interest and taxes (EBIT) for the company are now expected to be in the range of $280 million to $310 million with the primary uncertainty through the remainder of the year attributed to roofing volumes.
Roofing
The company previously disclosed late second-quarter weakness in the U.S. roofing shingle market, which persisted early into the third quarter. While there was some improvement through most of the third quarter, shipments weakened... More
