Surpassing expectations, stock still drops more than 10%, slowly recovering but still down at end of trading on Friday; roofing remains a bright spot in company financials
Owens Corning's Q3 2023 report showed mixed results, with net sales matching last year at $2.5 billion and earnings surpassing estimates, but sales declining over 1.5%; roofing remains a bright spot.
Tesla's solar products experienced additional declines in Q3 2023, though its energy storage is once again booming, according to the company's latest earnings report.
The latest report from the Asphalt Roofing Manufacturers Association shows supply chain issues are still working themselves out amidst inflation, interest rates and labor shortages.
Owens Corning operates like a well-oiled machine: reporting net sales of $2.6 billion, similar to the prior year-over-year quarter, and returning $160 million to shareholders through dividends and stock buybacks.
Beacon announced Q2 2023 results, beating Wall Street estimates slightly with earnings of $2.5 billion; the company attributed the sales increase to higher prices, acquired branches, and strategic investments
Carlisle Companies, the diversified behemoth whose construction materials division is a major player in the roofing and building industries, reported lower-than-expected earnings for the first quarter of 2023.
Investors smiled after Owen Corning released its Q1 2023 numbers, beating expectations and returning $183 million to shareholders during the first three months of this year.