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Owens Corning: 1Q Earnings Snapshot

TOLEDO, Ohio (AP) _ Owens Corning (OC) on Wednesday reported first-quarter profit of $44 million.

On a per-share basis, the Toledo, Ohio-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs, were 54 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The construction materials company posted revenue of $1.67 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.69 billion.

Owens Corning shares have climbed 26 percent since the beginning of the year. The stock has decreased 29 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OC at https://www.zacks.com/ap/OC