Owens Corning Increases Sales but Misses Estimates on Earnings
Owens Corning (NYS: OC) reported earnings on Feb. 15. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Owens Corning missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share increased.
Margins improved across the board.
Owens Corning recorded revenue of $1.20 billion. The 11 analysts polled by S&P Capital IQ expected to see revenue of $1.27 billion on the same basis. GAAP reported sales were 2.4% higher than the prior-year quarter's $1.17 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.40. The 14 earnings estimates compiled by S&P Capital IQ averaged $0.48 per share on the same basis. GAAP EPS were $0.41 for Q4 versus -$0.89 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 19.2%, 190 basis points better than the prior-year quarter. Operating margin was 7.3%, 420 basis points better than the prior-year quarter. Net margin was 4.2%, 1,360 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.29 billion. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $5.52 billion. The average EPS estimate is $2.35.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 445 members out of 469 rating the stock outperform, and 24 members rating it underperform. Among 110 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 108 give Owens Corning a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Owens Corning is outperform, with an average price target of $36.33.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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