Owens Corning Q2 Profit Falls

(RTTNews) - Owens Corning (OC) Wednesday reported reported a sharp fall in second quarter net earnings to $96 million from $138 million a year ago. On a per share basis, earnings dropped to $0.85 from $1.19 a year ago. On an adjusted basis, earnings were $136 million or $1.20 per share.

On average, 24 analysts polled by Thomson Reuters expected the company to earn $1.08 per share. Analysts estimates usually exclude special items.

Net sales for the quarter slightly increased to $1.597 billion from $1.545 billion a year ago. Wall Street expected $1.48 billion.

Looking ahead to the full year 2017, the company expects adjusted EBIT to be at least $825 million.