Owens Corning Q1 Net Profit From Cont. Ops. Declines

(RTTNews) - Owens Corning (OC) reported that its first quarter net earnings from continuing operations to company declined to $255 million from $278 million, prior year. Earnings per share was $2.95 compared to $3.16. Adjusted EBITDA increased to $565 million from $515 million. Adjusted profit per share from continuing operations declined to $2.97 from $3.40. Net sales from continuing operations were $2.5 billion, a 25% increase from last year.

For the second-quarter, Owens Corning expects revenue from continuing operations to grow high-single-digit percent. The enterprise is expected to generate adjusted EBITDA margin from continuing operations of low-to-mid 20 percent.

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