Owens Corning (OC - Free Report) is slated to report third-quarter 2019 results on Oct 23, before the opening bell.
In the last reported quarter, the company’s earnings and net sales not only topped the respective Zacks Consensus Estimate by 15.9% and 5.1%, but also improved 11% and 5.2% on a year-over-year basis, courtesy of increased organic growth, improved operating efficiencies and higher contribution from the Roofing business.
Notably, Owens Corning’s earnings surpassed the consensus mark in two of the trailing four quarters, with the average positive surprise being 2.4%.
How are Estimates Faring?
Let’s take a look at the estimate revision trend in order to get a clear picture of what analysts are thinking about the company prior to the earnings release.
The Zacks Consensus Estimate for the to-be-reported quarter’s earnings has increased to $1.51 from $1.50 per share over the past 30 days. However, this indicates a decrease of 2% from the year-ago reported figure of $1.54 per share. Revenues are expected to be $1.85 billion, suggesting a 1.5% year-over-year decline.