By late afternoon, shares had slipped -4% to $42.10.
Over the three months to March, the company earned 29 cents a share, 6 cents lower than analysts surveyed by Thomson Reuters had expected.
Revenue of $1.28 billion was 5.2% lower year over year and missed analysts' expectations of $1.34 billion.Must Read: Warren Buffett's 10 Favorite Growth Stocks SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more. TheStreet Ratings team rates OWENS CORNING as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: "We rate OWENS CORNING (OC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, attractive valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins."
- You can view the full analysis from the report here: OC Ratings Report