Owens Corning Q2 Adj. Profit Beats View - Quick Facts

(RTTNews) - Composites and building materials company Owens Corning (OC) reported that second-quarter net income to company surged to $91 million or $0.77 per share from $21 million or $0.18 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $93 million or $0.79 per share, compared with $45 million or $0.38 per share in the year-ago quarter. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $0.54 for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter rose to $1.41 billion from $1.36 billion in the comparable quarter last year, while 16 analysts expected revenue of $1.41 billion for the quarter.

Looking ahead, the company said it continues to expect to benefit in 2015 from sustained improvement in the U.S. housing market and moderate global growth.