Owens Corning Q3 Profit Increases, beats estimates

(RTTNews) - Owens Corning (OC) revealed earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $470 million, or $4.84 per share. This compares with $260 million, or $2.50 per share, in last year's third quarter.

Excluding items, Owens Corning reported adjusted earnings of $347 million or $3.57 per share for the period.

Analysts on average had expected the company to earn $3.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.3% to $2.529 billion from $2.213 billion last year.

Owens Corning earnings at a glance (GAAP) :

-Earnings (Q3): $470 Mln. vs. $260 Mln. last year. -EPS (Q3): $4.84 vs. $2.50 last year. -Analyst Estimate: $3.19 -Revenue (Q3): $2.529 Bln vs. $2.213 Bln last year.