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Owens Corning: 4Q Earnings Snapshot

TOLEDO, Ohio (AP) _ Owens Corning (OC) on Wednesday reported fourth-quarter net income of $171 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Toledo, Ohio-based company said it had net income of $1.55. Earnings, adjusted for non-recurring gains, came to $1.38 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The construction materials company posted revenue of $1.72 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.68 billion.

For the year, the company reported profit of $545 million, or $4.89 per share. Revenue was reported as $7.06 billion.

Owens Corning shares have climbed 26 percent since the beginning of the year. The stock has decreased 37 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