Owens Corning, Toledo-Based Construction Materials Firm, Posts Net Income Of $96M

TOLEDO, OH — Toledo-based Owens Corning (OC) reported Wednesday a third-quarter net income of $96 million. On a per-share basis, the company said it had net income of 85 cents. Earnings, adjusted for non-recurring costs, were $1.25 per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.

The construction materials company posted revenue of $1.7 billion in the period, which topped Wall Street forecasts. Eight analysts surveyed by Zacks expected $1.63 billion.

Owens Corning shares have climbed 57 percent since the beginning of the year. The stock has climbed 55 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

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