TOLEDO, Ohio (AP) — TOLEDO, Ohio (AP) — Owens Corning (OC) on Wednesday reported a loss of $105 million in its first quarter.
The Toledo, Ohio-based company said it had a loss of $1.29 per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, were $1.22 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The construction materials company posted revenue of $2.27 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.16 billion.
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