Owens Corning Cuts FY14 Earnings View - Quick Facts

(RTTNews) - Owens Corning (OC) slashed its annual earnings forecast as a result of a continued volume weakness in its roofing business. For the fiscal 2014, the firm now expects adjusted EBIT, greater than the prior year result of $416 million. Earlier, the company had expected to deliver adjusted EBIT of $500 million. Further, Owens said it continues to see improvement in the year-over-year performance of both its insulation and composites businesses. Earnings growth in these two segments is anticipated to more than offset the weaker financial performance in the roofing business year over year.