- Adjusted EPS for Q2 was $4.64, higher than last year’s $4.22 and the estimated $4.31.
- Net sales reached $2.79 billion, which is an 8.8% increase year-over-year (y/y) and slightly above the estimate of $2.78 billion.
- Insulation net sales were $916 million, marking a 1.2% increase y/y but below the estimate of $940.8 million.
- Roofing net sales came in at $1.11 billion, a 1.6% decline y/y and below the estimate of $1.17 billion.
- Composites net sales fell to $546 million, a 12% decrease y/y and below the estimate of $551 million.
- Adjusted EBIT was $588 million, up 10% y/y and higher than the estimated $538.8 million.
- Insulation EBIT was $183 million, a 12% increase y/y, beating the estimate of $170.6 million.
- Roofing EBIT amounted to $373 million, a 10% increase y/y.
- Composites EBIT was $61 million, a significant 30% drop y/y but above the estimated $48.5 million.
- For Q3 2024, the company expects net sales growth to be in the low-20 percent range.
- Analyst ratings include 8 buys, 9 holds, and 1 sell.
A look at Owens Corning Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Owens Corning seems to have a promising long-term outlook. With above-average scores in Growth and Momentum, the company is positioned well for future expansion and market performance. Additionally, its Value and Dividend scores suggest stability and potential for steady returns for investors. Owens Corning‘s Resilience score of 3 indicates moderate strength in dealing with market fluctuations and challenges, further supporting its overall outlook.
Owens Corning, known for producing building materials and engineered products, operates globally across multiple industries. With a balanced mix of growth potential, market momentum, and financial stability, the company appears to be on a positive trajectory for the long term, making it an attractive prospect for investors seeking a blend of growth and stability in their portfolio.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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