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Owens ning(OC) - 2024 Q3 - Quarterly Results
2024-11-06 11:01
Exhibit 99.1 ($ in millions, except per share amounts) Third-Quarter Nine Months NEWS RELEASE Owens Corning Delivers Net Sales of $3.0 Billion; Generates Net Earnings of $321 Million and Adjusted EBIT of $582 Million TOLEDO, Ohio – November 6, 2024 – Owens Corning (NYSE: OC), a residential and commercial building products leader, today reported third-quarter 2024 results. • Reported Net Sales of $3.0 Billion, a 23% Increase from Prior Year, with Newly Acquired Doors Business Contributing $573 Million in Rev ...
Owens Corning (OC) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
ZACKS· 2024-11-01 14:20
The upcoming report from Owens Corning (OC) is expected to reveal quarterly earnings of $4.01 per share, indicating a decline of 3.4% compared to the year-ago period. Analysts forecast revenues of $3.04 billion, representing an increase of 22.7% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company reveals its earnings, it is ...
Analysts Estimate Owens Corning (OC) to Report a Decline in Earnings: What to Look Out for
ZACKS· 2024-10-30 15:07
The market expects Owens Corning (OC) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on November 6, 2024, might help the stock move higher if these key numbers ...
Here is What to Know Beyond Why Owens Corning Inc (OC) is a Trending Stock
ZACKS· 2024-10-23 14:05
Owens Corning (OC) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this construction materials company have returned +4.8%, compared to the Zacks S&P 500 composite's +2.7% change. During this period, the Zacks Building Products - Miscellaneous industry, which Owens Corning falls in, has gained 1%. The key question now is: What could b ...
Why Owens Corning (OC) Dipped More Than Broader Market Today
ZACKS· 2024-10-21 23:06
In the latest trading session, Owens Corning (OC) closed at $186.20, marking a -1.79% move from the previous day. This change lagged the S&P 500's daily loss of 0.18%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.27%.Prior to today's trading, shares of the construction materials company had gained 8.84% over the past month. This has outpaced the Construction sector's loss of 3.59% and the S&P 500's gain of 4.46% in that time.The upcoming earnings release of Owens Corning will be ...
Owens Corning: Balanced Prospects Amid Fair Valuation
Seeking Alpha· 2024-10-18 19:07
Core Insights - The individual is pursuing a Bachelor's degree in Economics and Management while working as a financial market analyst, indicating a strong academic and professional background in finance [1] - The focus is on mid- and large-cap growth companies, particularly in the financial, technology, healthcare sectors, and REITs, suggesting a diversified investment strategy [1] - The investment journey began during the Covid lockdowns, highlighting a trend where many individuals turned to investing during economic uncertainty [1] Industry Focus - The financial industry is a primary area of interest, which may indicate potential growth opportunities as the economy stabilizes post-pandemic [1] - Technology and healthcare sectors are also emphasized, reflecting ongoing trends in digital transformation and health innovation, which are likely to continue driving market growth [1] - The inclusion of REITs suggests an interest in real estate investments, which can provide diversification and income generation in a portfolio [1]
Owens Corning Banks on Growth Initiative Amid Low Volume Projection
ZACKS· 2024-10-11 15:10
Core Viewpoint - Owens Corning's strategic growth initiatives and investments are expected to drive future growth, particularly in the Insulation and Roofing segments, despite facing inflationary pressures and labor challenges [1][2]. Factors Supporting Owens Corning's Growth - Strategic growth initiatives focus on expanding product offerings, optimizing networks, and automating processes, enhancing efficiency and cost-effectiveness, leading to stronger profits and growth [3]. - The Composites segment is expanding key product platforms like non-wovens and investing in new product lines, including structural composite lumber and decking [4]. - In the Roofing segment, the company is expanding its contractor network, innovating new products, and increasing shingle capacity, which has led to significant capital investments over the past two years [5]. - The acquisition of Masonite strengthens Owens Corning's position in residential and commercial markets, diversifying its portfolio and accelerating growth [6]. - Commitment to product innovation, including new weather-resistant barriers and product lines, ensures the company stays ahead of market trends, with 13 new or improved products launched in Q1 2024 [7]. - The roofing segment has shown steady growth, with a 2% year-over-year increase in top-line performance during the first half of 2024, driven by higher selling prices and a favorable product mix [8]. Financial Strength - Owens Corning maintains a solid liquidity position of $1.4 billion as of June 30, consisting of $254 million in cash and cash equivalents and $1.1 billion available on bank debt facilities, with a debt-to-EBITDA ratio of 2.2x [10][9]. Hurdles to Cross - The company anticipates flat or declining revenues in certain segments for Q3, particularly in roofing and doors, with industry shipments for U.S. shingle end-market demand expected to decline mid-to-high single digits [10][11]. - Inflationary pressures and rising costs of raw materials continue to challenge profitability, particularly in insulation and roofing segments [12]. - Currency risks from operations in Europe and Asia-Pacific have affected sales and profits, with global economic uncertainties potentially exacerbating these issues [13]. - The company's performance is closely tied to the housing market, with higher inflation impacting housing affordability and potentially dampening demand for building materials [14].
Is Trending Stock Owens Corning Inc (OC) a Buy Now?
ZACKS· 2024-10-11 14:05
Core Viewpoint - Owens Corning (OC) has been a highly searched stock recently, indicating potential interest and volatility in its performance [1] Group 1: Stock Performance - Shares of Owens Corning have returned +8.8% over the past month, outperforming the Zacks S&P 500 composite's +5.4% and the Zacks Building Products - Miscellaneous industry's +9.1% [2] - The key question remains regarding the stock's direction in the near term, influenced by both media reports and fundamental factors [2] Group 2: Earnings Estimates - Owens Corning is expected to post earnings of $4.01 per share for the current quarter, reflecting a year-over-year decline of -3.4% [5] - The consensus earnings estimate for the current fiscal year is $15.39, indicating a year-over-year increase of +6.7% [5] - For the next fiscal year, the consensus estimate is $16.04, suggesting a growth of +4.3% compared to the previous year [6] Group 3: Revenue Growth - The consensus sales estimate for the current quarter is $3.04 billion, representing a year-over-year increase of +22.7% [9] - Estimated revenues for the current and next fiscal years are $10.97 billion and $11.89 billion, indicating changes of +13.4% and +8.4%, respectively [9] Group 4: Recent Results and Surprises - In the last reported quarter, Owens Corning achieved revenues of $2.79 billion, a year-over-year increase of +8.8%, with an EPS of $4.64 compared to $4.22 a year ago [10] - The reported revenues were -2.95% below the Zacks Consensus Estimate, while the EPS exceeded estimates by +6.18% [11] - The company has consistently beaten consensus EPS estimates over the last four quarters and has topped revenue estimates twice [11] Group 5: Valuation - Owens Corning is graded B in the Zacks Value Style Score, indicating it is trading at a discount compared to its peers [15] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether the stock is overvalued, fairly valued, or undervalued [13][14] Group 6: Overall Outlook - The Zacks Rank 3 (Hold) suggests that Owens Corning may perform in line with the broader market in the near term [7][16]
Owens Corning (OC) Ascends But Remains Behind Market: Some Facts to Note
ZACKS· 2024-10-08 23:06
Owens Corning (OC) closed at $182.08 in the latest trading session, marking a +0.36% move from the prior day. The stock lagged the S&P 500's daily gain of 0.97%. At the same time, the Dow added 0.3%, and the techheavy Nasdaq gained 1.45%. Prior to today's trading, shares of the construction materials company had gained 15.89% over the past month. This has outpaced the Construction sector's gain of 8.21% and the S&P 500's gain of 5.41% in that time. Market participants will be closely following the financial ...
Why Owens Corning (OC) Outpaced the Stock Market Today
ZACKS· 2024-09-17 23:06
Owens Corning (OC) ended the recent trading session at $170.79, demonstrating a +1.8% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.2%. Prior to today's trading, shares of the construction materials company had gained 3.19% over the past month. This has lagged the Construction sector's gain of 5.35% and outpaced the S&P 500's gain of 1.54% in that time. Analysts and ...