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Owens Corning expects low sales in the fourth quarter due to struggles in the housing market.

ResultsRead the original at Benzinga
Bad for OC

Owens Corning missed profit and sales estimates and expects fourth-quarter sales below analysts’ expectations. Strong cash flow, shareholder payments, and debt repayment help, but do not outweigh weaker demand and pressure on profit margins.

OC · Owens Corning

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That points to weaker demand and less room to protect profit. Owens Corning expects home sales, remodeling, and new construction to stay weak, with shipping and input costs pressing margins. Roofing also faces fewer storms and distributor stock reductions. The picture is not all negative. Owens Corning generated strong cash flow, returned money to shareholders, and repaid debt. Those strengths do not outweigh missed results and another weak sales quarter.

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