Owens Corning Q3 Profit Up - Quick Facts

(RTTNews) - Composites and building materials company Owens Corning (OC) Wednesday posted a slight increase in its third-quarter earnings to $52 million or $0.44 per share from $51 million or $0.43 per share a year ago.

Excluding certain items, the company earned $74 million or $0.63 per share. On average, 22 analysts polled by Thomson Reuters expected earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly sales rose to $1.38 billion from $1.32 billion during the same period last year. Analysts expected revenues of $1.39 billion.

"Insulation and Composites delivered strong performance in the third quarter," said Mike Thaman, CEO of Owens. "Both of these businesses have grown revenue and earnings since the third quarter of 2013, producing strong operating leverage," he added.

The board proposed a quarterly dividend of $0.16 per share, which will be payable on Nov. 4, to shareholders of record as of Oct. 20.