Owens Corning Q2 adjusted earnings Miss Estimates

Owens Corning (OC) revealed a profit for its second quarter that increased from last year.

The company’s bottom line totaled $121 million, or $1.08 per share. This compares with $96 million, or $0.85 per share, in last year’s second quarter.

Excluding items, Owens Corning reported adjusted earnings of $131 million or $1.17 per share for the period.

Analysts had expected the company to earn $1.45 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 13.8% to $1.82 billion from $1.60 billion last year.

Owens Corning earnings at a glance:

-Earnings (Q2): $131 Mln. vs. $135 Mln. last year.
-EPS (Q2): $1.17 vs. $1.19 last year.
-Analysts Estimate: $1.45
-Revenue (Q2): $1.82 Bln vs. $1.60 Bln last year.

by RTTNews Staff Writer

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