Owens Corning reports 6 percent increase in sales

• Owens Corning insulation sales increased 11 percent in the third quarter and 6 percent for the year.
• Owens enjoyed net sales of $1.46 billion in the third quarter, compared to $1.38 billion in 2014.

TOLEDO - Owens Corning reported net sales increased almost 6 percent in the third quarter of the year, compared to a year ago, led by an 11 percent increase in insulation sales.

The company, which produces insulation at its Case Avenue plant in Newark, reported $1.46 billion in net sales during July, August and September, following $1.38 billion during the same period in 2014. The third quarter showing boosted the company's sales to 1.7 percent greater than 2014 through nine months.

Sales of insulation composites and roofing all increased in the third quarter.

"Owens Corning had a very strong quarter, as all three businesses made substantial contributions to earnings," said Mike Thaman, chairman and CEO. "Our businesses performed at double-digit  margin levels as a result of positive macro trends and strong commercial and operational execution."

Net earnings in the quarter were $112 million, compared to $52 million in 2014.

Insulation earnings before income tax grew for a 17th consecutive quarter. Insulation sales jumped from $454 million in the third quarter of 2014 to $502 million this year, an 11 percent improvement. For the year, insulation sales have increased 6 percent.

The company stated it expects to benefit from continued improvement in the U.S. housing market and global growth. Growth in new U.S. residential construction should continue to help the insulation business, Owens reported, with revenue growth of about 10 percent in the second half of the year.