Owens-Corning (NYSE:OC) stock plummeted 5.48% in pre-market trading following the release of its third-quarter earnings report, which fell short of analyst expectations and revealed challenges in the U.S. housing market. The building materials manufacturer reported disappointing financial results and provided a weak outlook for the fourth quarter, triggering investor concerns.

The company reported adjusted earnings per share of $3.67, missing the analyst consensus estimate of $3.71. This represents a 16.21% decrease from the same period last year. Quarterly sales came in at $2.684 billion, slightly below the expected $2.697 billion and down 11.88% year-over-year. More alarmingly, Owens-Corning swung to a net loss of $495 million, or $5.93 per share, compared to a profit of $321 million, or $3.65 per share, in the previous year. The loss was primarily attributed to a non-cash impairment charge of $780 million related to its Doors business.

Adding to the negative sentiment, Owens-Corning provided a disappointing outlook for the fourth quarter. The company expects Q4 revenue to be between $2.1 billion and $2.2 billion, significantly below analyst projections of $2.46 billion. Management cited weakening residential demand trends in the U.S., impacting volumes in both repair and remodel and new construction product lines. The company also anticipates a significant decline in non-discretionary roofing repair activity due to lower storm activity. Despite efforts to mitigate tariff exposure, these headwinds are expected to pressure sales in the coming quarter.