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Owens Corning misses, keeps full year EBIT guidance

  • Owens Corning (OC) misses on both lines for Q3 as revenues are basically flat Y/Y ($1.32B versus $1.28B).
  • Adjusted earnings rise 57.5% Y/Y.
  • Segment sales growth: Composites, -1%; Building Materials, +5% (roofing sales flat at $471M, insulation sales rise 12% to $431M).
  • Outlook: Full year EBIT +$100M, roofing shipments down mid-single digits, composites EBIT consistent with 2012. (PR)
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