Owens Corning Delivers Q3 Earnings Beat, Forecasts Strong Q4 Despite Market Headwinds
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2024
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Source: Benzinga
Third-Quarter Financial Performance: Owens Corning Inc. reported a 23% year-over-year increase in net sales to $3.046 billion, slightly surpassing expectations, with adjusted EPS rising to $4.38 and operating cash flow totaling $699 million.
Future Outlook: The company anticipates a challenging market environment but expects around 20% net sales growth in Q4, driven by portfolio adjustments and the addition of revenue from its Doors segment, while forecasting mid-teens EBIT margin and about 20% EBITDA margin.
Analyst Views on SOLR
Wall Street analysts forecast SOLR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SOLR is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 32.815
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Current: 32.815
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
