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Stock impact report

Owens Corning Reports First-Quarter 2020 Results

Owens Corning Inc New (OC) 
Last owens corning inc new earnings: 4/29 06:00 am Check Earnings Report
Company Research Source: Business Wire
Company Delivered Net Sales of $1.6 BillionCompany delivered strong results in a challenging environmentRoofing produced $64 million of EBIT; maintained 12% EBIT marginsInsulation delivered $39 million of EBIT; doubled EBIT margins to 6%Composites generated $44 million of EBIT; posted EBIT margins of 9%Company recorded non-cash pre-tax impairment charges of $987 million related to the Insulation business TOLEDO, Ohio--(BUSINESS WIRE)--Owens Corning (NYSE: OC) today reported consolidated net sales of $1.6 billion, a decrease of 4% or $66 million, compared with 2019.First-quarter 2020 net loss attributable to Owens Corning was $917 million, or $8.43 per diluted share, compared with net earnings attributable to Owens Corning of $44 million, or $0.40 per diluted share, in 2019. The company’s 2020 results included non-cash pre-tax impairment charges related to the Insulation business of $987 million, driven by the recent decline in the company’s market valuation and near-term economic u Show less Read more
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