Owens Corning sees Q4 net sales ‘slightly below’ 4Q22, consensus $2.28B

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. Weaker macroeconomic trends outside of the U.S. and increasing interest rates continue to result in slower global economic growth, but the company expects most of its building and construction end markets to be relatively stable in the near term. For fourth-quarter 2023, the company expects overall performance to result in net sales slightly below the fourth quarter of 2022, while generating mid-teen EBIT margins.