Despite a Subdued 2019 Outlook, Owens Corning Stands to Benefit From Longer-Term Housing Trends
Despite beating Wall Street's fourth-quarter revenue and EPS expectations, shares of no-moat-rated Owens Corning fell about 5% on Feb. 20, likely due to a 2019 outlook that was less optimistic than the market had been hoping for. Owens Corning's reported fourth-quarter revenue increased over 7% year over year to $1.7 billion, which was about 2% above the consensus estimate, and the firm's adjusted EPS increased 24% to $1.38 versus Wall Street's expectation of $1.27.Owens Corning's fourth-quart...
Owens Corning is engaged in manufacturing and delivering a range of insulation, roofing, and fiberglass composite materials. The company's Composites segment includes vertically integrated downstream activities. The company manufactures, fabricates and sells glass reinforcements in the form of fiber. The company's Insulation segment includes a portfolio of high, mid and low-temperature products with a geographic mix of United States, Canada, Europe, Asia-Pacific and Latin America, a market mix of residential, commercial, industrial and other markets, and a channel mix of retail, contractor and distribution. The company's products in the Roofing segment are laminate and strip asphalt roofing shingles.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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