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Owens Corning (OC) Reports Q2 Earnings: What Key Metrics Have to Say
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Owens Corning (OC - Free Report) reported $2.79 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 8.8%. EPS of $4.64 for the same period compares to $4.22 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.87 billion, representing a surprise of -2.95%. The company delivered an EPS surprise of +6.18%, with the consensus EPS estimate being $4.37.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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
: $916 million versus the two-analyst average estimate of $937.50 million. The reported number represents a year-over-year change of +1.2%.
Net Sales- Composites
: $546 million versus $545.70 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.9% change.
Net Sales- Roofing
: $1.11 billion versus $1.15 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -1.6% change.
EBIT- Composites
: $61 million versus the two-analyst average estimate of $46.55 million.
EBIT- Roofing
: $373 million compared to the $362.35 million average estimate based on two analysts.
EBIT- Insulation
: $183 million compared to the $168.70 million average estimate based on two analysts.
Shares of Owens Corning have returned -1.8% over the past month versus the Zacks S&P 500 composite's -6.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Owens Corning (OC) Reports Q2 Earnings: What Key Metrics Have to Say
Owens Corning (OC - Free Report) reported $2.79 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 8.8%. EPS of $4.64 for the same period compares to $4.22 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.87 billion, representing a surprise of -2.95%. The company delivered an EPS surprise of +6.18%, with the consensus EPS estimate being $4.37.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
View all Key Company Metrics for Owens Corning here>>>Net Sales- Insulation
: $916 million versus the two-analyst average estimate of $937.50 million. The reported number represents a year-over-year change of +1.2%.Net Sales- Composites
: $546 million versus $545.70 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.9% change.Net Sales- Roofing
: $1.11 billion versus $1.15 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -1.6% change.EBIT- Composites
: $61 million versus the two-analyst average estimate of $46.55 million.EBIT- Roofing
: $373 million compared to the $362.35 million average estimate based on two analysts.EBIT- Insulation
: $183 million compared to the $168.70 million average estimate based on two analysts.Shares of Owens Corning have returned -1.8% over the past month versus the Zacks S&P 500 composite's -6.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.