Owens Corning Q3 Revenues Dip 2.9% to $2.68B, Q4 Guidance Slashed
Owens Corning posted Q3 revenues of $2.68B, down 2.9% YoY, missing analysts' estimates and guiding next-quarter revenue and adjusted operating income below forecasts. Q4 revenue is expected to decline 23.4% YoY, with peer Builder FirstSource down 12.1% and Simpson up 4.2%.
1. Q3 Revenue and Guidance Miss
Owens Corning recorded Q3 revenue of $2.68B, down 2.9% year-on-year, and missed analysts’ revenue estimates. Management also guided next-quarter revenue and adjusted operating income below consensus forecasts.
2. Q4 Revenue Forecast
Analysts project Q4 revenue will fall 23.4% year-on-year, a reversal from the 23.3% growth in the same quarter last year. Estimates have remained largely unchanged over the past month.
3. Peer Performance Comparison
Builders FirstSource reported a 12.1% revenue decline for Q4, missing estimates by 2.8%, while Simpson posted a 4.2% revenue increase, topping expectations by 1.6%. These mixed peer results offer context for Owens Corning’s outlook.
4. Stock Movement and Price Targets
Owens Corning shares have risen 5.4% over the last month and carry an average analyst price target of $137.69, suggesting potential upside if earnings meet or exceed forecasts.