Research Desk Line-up: JELD-WEN Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 16, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Owens Corning (NYSE: OC), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=OC, following the Company's announcement of its financial results on October 25, 2017, for the third quarter fiscal 2017. The construction materials Company's net revenue surpassed analysts' expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the General Building Materials industry. Pro-TD has currently selected JELD-WEN Holding, inc. (NYSE: JELD) for due-diligence and potential coverage as the Company announced on November 07, 2017, its financial results for Q3 2017 which ended on September 30, 2017, and also updated its 2017 annual outlook. Register for a free membership today, and be among the early birds that get access to our report on JELD-WEN when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on OC; also brushing on JELD. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=OC

http://protraderdaily.com/optin/?symbol=JELD

Earnings Reviewed

For three months ended September 30, 2017, Owens Corning's net revenues increased 12.2% to $1.70 billion from $1.52 billion in Q3 FY16. Net revenue surpassed analysts' expectations of $1.63 billion.

During Q3 FY17, the Company's gross profit increased 13.4% to $424.0 million from $374.0 million in the same period last year. For the reported quarter, the Company's gross margin increased 30 basis points to 24.9% of revenue from 24.6% of revenue in Q3 FY16.

For the reported quarter, Owens Corning's marketing and administrative expenses increased 13.5% to $160.0 million, from $141.0 million in Q3 FY16. During Q3 FY17, the Company's depreciation and amortization (D&A) expenses increased 20.2% to $101 million from $84 million in the same period last year. The increase was due to the FOAMGLAS business and accelerated depreciation of its Composites business as a result of cost reduction actions announced in Q2 FY17.

During Q3 FY17, the Company's earnings before interest and tax (EBIT) increased 9.7% to $227.0 million from $207.0 million in the same period last year. For the reported quarter, the Company's EBIT margin decreased 30 basis points to 13.3% of revenue from 13.6% of revenue in the third quarter of last year. For the reported quarter, the Company's adjusted EBIT margin decreased 40 basis points to 14% of revenue from 14.4% of revenue in Q3 FY16.

For the reported quarter, Owens Corning's net income decreased 14.3% to $96.0 million from $112.0 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) decreased 12.4% to $0.85 from $0.97 in the same period last year. For the reported quarter, Owens Corning's adjusted net income increased 12.8% to $141.0 million on a y-o-y basis from $125.0 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 15.7% to $1.25 on a y-o-y basis from $1.08 in the same period last year. Adjusted diluted EPS was below analysts' expectations of $1.26.

Owens Corning's Segment Details

Composites - During Q3 FY17, the Company's composites segment's net revenue increased 4% to $514.0 million from $496.0 million in the same period last year. For the reported quarter, the segment's EBIT increased 1.6% to $62 million from $61 million in the third quarter of 2016. The increase was due to improved operating performance and higher volumes. For the reported quarter, the segment's EBIT margin was 12.0% of revenue at par with 12.0% of revenue in Q3 FY16.

Insulation - During Q3 FY17, the insulation segment's net revenue increased 19% to $568.0 million from $476.0 million in the same period last year. For the reported quarter, the segment's EBIT increased 68.4% to $64 million from $38 million in the third quarter of 2016. The increase was due to price improvement in the US residential new construction business, better volumes and the positive contribution of the FOAMGLAS business. For the reported quarter, the segment's EBIT margin increased 300 basis points to 11.0% of revenue from 8.0% of revenue in Q3 FY16.

Roofing - During Q3 FY17, the roofing segment's net revenue increased 13% to $682.0 million from $603.0 million in the same period last year. For the reported quarter, the segment's EBIT increased 0.7% to $147 million from $146 million in the third quarter of 2016. The increase was due to strong shingle and component volumes, continued strong reroof demand and higher storm activity. For the reported quarter, the segment's EBIT margin decreased 200 basis points to 22.0% of revenue from24.0% of revenue in Q3 FY16.

Balance Sheet

As on September 30, 2017, Owens Corning's cash and cash equivalents increased 22.7% to $168.0 million from $112.0 million on December 31, 2016. For the reported quarter, the Company's net long-term debt increased 21% to $2.54 billion from $2.10 billion in Q4 FY16.

During FY17, the Company's YTD cash provided by operating activities increased 2.2% to $694 million from $679 million in the same period last year. During FY17, the Company's YTD free cash flow increased 11.8% to $445.0 million from $398.0 million in the same period last year.

During Q3 FY17, the Company repurchased 320,000 shares for $21 million.

Stock Performance

On Wednesday, November 15, 2017, the stock closed the trading session at $82.19, marginally down 0.54% from its previous closing price of $82.64. A total volume of 836.18 thousand shares have exchanged hands. Owens Corning's stock price skyrocketed 22.98% in the last three months, 34.74% in the past six months, and 58.94% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 59.41%. The stock is trading at a PE ratio of 24.52 and has a dividend yield of 0.97%. At Wednesday's closing price, the stock's net capitalization stands at $9.21 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily