Owens Corning sees Q3 sales ‘similar’ to last year

Expects high-teen EBIT margins in Q3. The key economic factors that impact the company’s businesses are residential repair and remodeling activity, U.S. housing starts, global commercial construction activity, and global industrial production. Inflation continues to moderate while increasing interest rates and ongoing geopolitical tensions continue to result in slower global economic growth. While global economic growth is expected to be lower year-over-year, the company expects many of its end markets to be relatively stable in the near term. For third-quarter 2023, the company expects overall performance to result in net sales similar to the comparable quarter in the prior year, while generating high-teen EBIT margins.