=Owens Corning (OC) reported earnings on Wed 25 July 2018 (b/o)

Owens Corning misses by $0.28, misses on revs; sees FY18 adj EBIT of $925-975 mln 

• Reports Q2 (Jun) earnings of $1.17 per share, excluding items, $0.28 worse than the Capital IQ Consensus of $1.45; revenues rose 14.2% year/year to $1.82 bln vs the $1.86 bln Capital IQ Consensus; EBIT of $206 mln and Adjusted EBIT of $214 mln.
• 2018 Guidance:Pricing momentum expected to drive strong second-half performance improvement, resulting in an adjusted ebit outlook of $925 million to $975 million for 2018. In 2018, the company expects to convert adjusted earnings into free cash flow at about 100%. Capital additions in 2018 are expected to total ~$500 million. "In the second-half, we expect continued commercial execution and improved operational performance. We expect strong financial results for 2018 with momentum heading into 2019."