By Will Feuer
Owens Corning posted higher fourth-quarter sales and earnings, lifted by demand for roofing services.
The Toledo, Ohio, building-materials maker posted net income of $131 million, or $1.46 a share, compared with $124 million, or $1.32 a share, a year earlier.
Stripping out one-time items, adjusted earnings were $3.21 a share. Analysts surveyed by FactSet expected $2.86 a share.
Sales rose 1% to $2.3 billion. Analysts surveyed by FactSet expected $2.25 billion.
Roofing sales rose 16% to $928 million in the quarter while insulation sales dropped 3% to $931 million. Composites sales fell 13% to $514 million.
For the current quarter, the company said it expects a slight drop in sales from a year ago.
Write to Will Feuer at Will.Feuer@wsj.com
www.marketwatch.com
https://www.marketwatch.com/story/owens-corning-4q-sales-rise-lifted-by-roofing-services-e26edfa7
