Owens Corning Misses Earnings, Stock Dips

Despite missing analyst estimates, Owens Corning's Q3 earnings saw a slight stock price increase. The company reported adjusted earnings of $3.67 per share, missing the predicted $3.74, and a 3% revenue decrease to $2.68 billion. A $780 million non-cash charge and weakening U.S. residential demand impacted their Doors business. However, they maintained strong profit margins and generated substantial cash flow. Looking ahead, Owens Corning expects a mid-to-high teens revenue decline in Q4, but remains committed to growth and returning $278 million to shareholders.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.