Owens Corning For 4Q23 Expects Overall Performance To Result In Net Sales Slightly Below Last Year, While Generating Mid-Teen EBIT Margins
Portfolio Pulse from Benzinga Newsdesk
Owens Corning (OC) expects its 4Q23 performance to result in net sales slightly below the same period in 2022, while generating mid-teen EBIT margins. The company's outlook is influenced by residential repair and remodeling activity, U.S. housing starts, global commercial construction activity, and global industrial production. Weaker macroeconomic trends outside of the U.S. and increasing interest rates are expected to slow global economic growth, but OC's building and construction end markets are expected to remain stable.
October 25, 2023 | 10:05 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Owens Corning expects 4Q23 net sales to be slightly lower than 4Q22, but anticipates mid-teen EBIT margins. The company's end markets are expected to remain stable despite global economic challenges.
The company's expectation of slightly lower sales could potentially impact the stock negatively. However, the anticipation of mid-teen EBIT margins and stability in end markets could offset this, leading to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100