The Toledo, OH company was already adjusted earning down to the $280m - $310m range, from a previous view of $360m - $420m as a result of decreased roofing volumes. In late Q2-12 Owens disclosed a weakness in the U.S. roofing shingle market, which continued into Q3-12.
The company stated that some shipment improvements occurred in the third quarter, however, improvements are not expected for the remainder of the year in part due to a price increase. As many know in the roofing community, the cost of asphalt roofing shingles is dependent on oil prices. With rising oil prices, comes rising asphalt shingle prices.
The company plans to release Q3-12 results on October 24, 2012.
Read More: http://www.proactiveinvestors.com/companies/news/35698/owens-corning-lowers-full-year-earnings-outlook-35698.html
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ReplyDeleteA roofer specializes in roof construction, concentrating on the application of materials that water proof and / or weather proof buildings, designed material—as a substrate for the roofing materials to be installed on. The rafters, beams, and trusses are the frame or skeleton for the roof to be built upon. Naturally, a roofer must not be too scared of heights and have good balance as well as carpentry skills. In Australia this type of carpenter is called a roof carpenter and in that country a roofer is someone who puts on the roof cladding (tiles, tin, etc.). In the USA a well trained roofer is called a journeyman. In California, if a journeyman wishes and has three consecutive years working in the field, he is eligible to pass a state test for a contractors license.
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