Owens Corning Q4 Profit Decreases, but beats estimates

(RTTNews) - Owens Corning (OC) revealed a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $124 million, or $1.32 per share. This compares with $227 million, or $2.23 per share, in last year's fourth quarter.

Excluding items, Owens Corning reported adjusted earnings of $235 million or $2.49 per share for the period.

Analysts on average had expected the company to earn $2.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.5% to $2.29 billion from $2.13 billion last year.

Owens Corning earnings at a glance (GAAP) :

-Earnings (Q4): $124 Mln. vs. $227 Mln. last year. -EPS (Q4): $1.32 vs. $2.23 last year. -Analyst Estimates: $2.36 -Revenue (Q4): $2.29 Bln vs. $2.13 Bln last year.