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Owens Corning (OC) Reports Q4 Earnings: What Key Metrics Have to Say
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For the quarter ended December 2023, Owens Corning (OC - Free Report) reported revenue of $2.3 billion, up 0.8% over the same period last year. EPS came in at $3.21, compared to $2.49 in the year-ago quarter.
The reported revenue represents a surprise of +2.97% over the Zacks Consensus Estimate of $2.24 billion. With the consensus EPS estimate being $2.82, the EPS surprise was +13.83%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Owens Corning performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Insulation: $931 million versus the three-analyst average estimate of $903.80 million. The reported number represents a year-over-year change of -2.6%.
Net Sales- Composites: $514 million compared to the $536.86 million average estimate based on three analysts. The reported number represents a change of -12.7% year over year.
Net Sales- Roofing: $928 million versus the three-analyst average estimate of $857.61 million. The reported number represents a year-over-year change of +16.2%.
EBIT- Composites: $26 million versus the three-analyst average estimate of $34.08 million.
EBIT- Roofing: $284 million compared to the $231.53 million average estimate based on three analysts.
EBIT- Insulation: $150 million versus $140.92 million estimated by three analysts on average.
Shares of Owens Corning have returned -0.6% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Owens Corning (OC) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Owens Corning (OC - Free Report) reported revenue of $2.3 billion, up 0.8% over the same period last year. EPS came in at $3.21, compared to $2.49 in the year-ago quarter.
The reported revenue represents a surprise of +2.97% over the Zacks Consensus Estimate of $2.24 billion. With the consensus EPS estimate being $2.82, the EPS surprise was +13.83%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Owens Corning performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Insulation: $931 million versus the three-analyst average estimate of $903.80 million. The reported number represents a year-over-year change of -2.6%.
- Net Sales- Composites: $514 million compared to the $536.86 million average estimate based on three analysts. The reported number represents a change of -12.7% year over year.
- Net Sales- Roofing: $928 million versus the three-analyst average estimate of $857.61 million. The reported number represents a year-over-year change of +16.2%.
- EBIT- Composites: $26 million versus the three-analyst average estimate of $34.08 million.
- EBIT- Roofing: $284 million compared to the $231.53 million average estimate based on three analysts.
- EBIT- Insulation: $150 million versus $140.92 million estimated by three analysts on average.
View all Key Company Metrics for Owens Corning here>>>Shares of Owens Corning have returned -0.6% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.