Owens Corning shares have fallen 10.6% since its second-quarter earnings report, underperforming the S&P 500. The company posted adjusted earnings of $3.93 per share, down 6.7% year over year but beating the Zacks Consensus Estimate by 28.4%, while net sales rose 0.3% to $2.76 billion, also above expectations. Adjusted EBITDA declined 6.1% to $660 million, with margin contracting to 24% due to inflation, partly offset by $25 million in tariff refunds. For the third quarter, Owens Corning expects revenues of $2.6 billion to $2.7 billion and an adjusted EBITDA margin of 20% to 22%, with softer roofing demand anticipated. Despite downward estimate revisions, the stock holds a Zacks Rank #2 (Buy).
Owens Corning IncQ2 earnings beat but guidance for Q3 shows softer roofing demand and lower margins, leading to stock decline.
Corning Incorporated
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