Owens Corning Posts Strong 3Q Sales and Earnings Growth; Increasing FVE to $79
All three of Owens Corning’s businesses--composites, insulation, and roofing--contributed to the no-moat building product manufacturer’s strong third-quarter sales growth. Sales increased 12% year over year to $1.703 billion, beating the $1.626 billion consensus estimate. Adjusted earnings per share grew 16% to $1.25 (consensus was $1.26), driven by a 13% increase in adjusted earnings and about a 3% reduction in weighted average diluted shares outstanding. During the third quarter, the company r...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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