Owens Corning: Fourth Quarter Earnings Overview

Owens Corning Reports Fourth Quarter Financial Results

Owens Corning, headquartered in Toledo, Ohio, announced on Wednesday that it recorded a net loss of $298 million for the fourth quarter.

The company reported a per-share loss of $3.65. When excluding one-time items and discontinued operations, adjusted earnings came to $1.10 per share.

These figures did not meet analyst expectations. According to Zacks Investment Research, the consensus estimate from five analysts was $1.33 per share in earnings.

During the quarter, Owens Corning generated $2.14 billion in revenue, which was also below projections. Four analysts surveyed by Zacks had anticipated revenue of $2.2 billion.

For the full year, the company reported a total loss of $522 million, or $6.22 per share, with annual revenue reaching $10.1 billion.