Ahead of Owens Corning (OC) Q4 Earnings: Get Ready With Wall Street Estimates for Key Metrics

The upcoming report from Owens Corning (OC) is expected to reveal quarterly earnings of $1.33 per share, indicating a decline of 58.7% compared to the year-ago period. Analysts forecast revenues of $2.2 billion, representing a decline of 22.6% year over year.

Over the last 30 days, there has been a downward revision of 1.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

Bearing this in mind, let's now explore the average estimates of specific Owens Corning metrics that are commonly monitored and projected by Wall Street analysts.

Analysts expect 'Net Sales- Insulation' to come in at $886.64 million. The estimate suggests a change of -4.3% year over year.

Analysts predict that the 'Net Sales- Doors' will reach $516.12 million. The estimate suggests a change of -8.5% year over year.

The average prediction of analysts places 'Net Sales- Roofing' at $799.33 million. The estimate indicates a year-over-year change of -12.4%.

Over the past month, shares of Owens Corning have returned +5.1% versus the Zacks S&P 500 composite's -0.8% change. Currently, OC carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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This article originally published on Zacks Investment Research (zacks.com).

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