Owens Corning’s second-quarter 2023 earnings report had to make executives smile as both earnings and net sales surpassed Wall Street analysts’ expectations, and earnings increased year-over-year despite a dip in net sales.
The company reported adjusted earnings of $4.22 per share, which topped the Zacks Consensus Estimate of adjusted earnings of $3.30 per share by 27.9%. The metric also grew 9.6% from the prior-year quarter’s reported value of $3.85 per share.