Owens Corning (OC) Reports Q2 Earnings: What Key Metrics Have to Say

Owens Corning (OC) 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.

View all Key Company Metrics for Owens Corning here>>>

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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