Owens Corning Expects Q3 Overall Performance To Result In Net Sales Similar To Comparable Quarter In Prior Year, While Generating High-Teen Ebit Margins
Portfolio Pulse from Benzinga Newsdesk
Owens Corning (OC) expects its Q3 2023 performance to result in net sales similar to the same quarter in the previous year, with high-teen EBIT margins. The company's outlook is influenced by factors such as residential repair and remodeling activity, U.S. housing starts, global commercial construction activity, and global industrial production. Inflation is moderating, but increasing interest rates and geopolitical tensions are slowing global economic growth. The company's 2023 financial outlook includes general corporate expenses of $215-225 million, interest expense of $70-80 million, and capital additions of approximately $520 million.
July 26, 2023 | 10:03 am
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Owens Corning expects Q3 2023 net sales to be similar to Q3 2022, with high-teen EBIT margins. This is influenced by various economic factors and ongoing geopolitical tensions.
The company's performance is expected to remain stable, which suggests that the stock price may also remain stable in the short term. However, ongoing geopolitical tensions and economic factors could introduce volatility.
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