Owens Corning Q3 Profit Increases, beats estimates

Owens Corning (OC) revealed earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $470 million, or $4.84 per share. This compares with $260 million, or $2.50 per share, in last year's third quarter.

Excluding items, Owens Corning reported adjusted earnings of $347 million or $3.57 per share for the period.

Analysts on average had expected the company to earn $3.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.3% to $2.529 billion from $2.213 billion last year.

Owens Corning earnings at a glance (GAAP) :

-Earnings (Q3): $470 Mln. vs. $260 Mln. last year.
-EPS (Q3): $4.84 vs. $2.50 last year.
-Analyst Estimate: $3.19
-Revenue (Q3): $2.529 Bln vs. $2.213 Bln last year.

For comments and feedback contact: editorial@rttnews.com

Follow RTT