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Owens Corning Q1 adjusted earnings Miss Estimates

Owens Corning (OC) reported earnings for first quarter that fell from the same period last year.

The company's profit came in at $44 million, or $0.40 per share. This compares with $92 million, or $0.82 per share, in last year's first quarter.

Excluding items, Owens Corning reported adjusted earnings of $60 million or $0.54 per share for the period.

Analysts had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.2% to $1.67 billion from $1.69 billion last year.

Owens Corning earnings at a glance:

-Earnings (Q1): $60 Mln. vs. $92 Mln. last year.
-EPS (Q1): $0.54 vs. $0.82 last year.
-Analysts Estimate: $0.58
-Revenue (Q1): $1.67 Bln vs. $1.69 Bln last year.

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