- Owens Corning has reported an adjusted EPS (Earnings Per Share) of $3.59 for the first quarter, surpassing the estimated $3.08 and $2.77 the previous year.
- Net sales for the company were $2.30 billion, slightly below by 1.3% compared to the previous year, but exceeding the estimated $2.28 billion.
- The company saw a decrease in Insulation net sales by 1.6% to a total of $904 million, falling short of the estimated $915.9 million.
- Roofing net sales witnessed an increase by 6.9% totaling $957 million, beating the estimated $927.4 million.
- Composites faced a decrease in net sales by 11% to $523 million, however this still exceeded the estimated $504.3 million.
- Adjusted EBIT (Earnings Before Interest and Taxes) was reported at $438 million, a solid increase of 21% compared to the previous year, and beat the estimated $383.4 million.
- Insulation EBIT experienced a growth by 3.2% to $161 million.
- There was a significant increase in Roofing EBIT by 37% totaling $286 million.
- Composites EBIT witnessed a decrease by 6.1% amounting to $46 million.
- CEO Brian Chambers attributed the strong results to their resilient team and the strategic actions taken over the years to bolster earnings.
- Chambers also highlighted the company’s consistent and strong performance throughout the first quarter of the year.
- Current investment recommendations for Owens Corning include 6 buys, 9 holds, and 1 sell.
A look at Owens Corning Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 5 | |
| 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
Analysts have assessed Owens Corning‘s long-term outlook using Smartkarma Smart Scores, which gauge different aspects of the company’s performance. With a score of 5 for Growth and 4 for Momentum, Owens Corning appears to have strong potential for expansion and positive upward movement in the future. This indicates that the company is positioned well for future growth opportunities and is currently experiencing favorable market trends.
Although Owens Corning scored lower on Value and Dividend factors with scores of 3 and 2 respectively, its overall outlook remains positive due to the high scores in Growth and Momentum. In addition, the company’s Resilience score of 3 suggests a moderate level of stability in the face of challenges. With a diverse portfolio of residential and commercial building materials, as well as a global reach across various industries, Owens Corning is well-positioned to capitalize on growth opportunities in the long term.
### Owens Corning produces residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. The Company offers its products globally to various industries. ###
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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