Owens-Corning (NYSE: OC) shares tumbled 5.48% in pre-market trading on Wednesday following the release of disappointing third-quarter results and a weak outlook for the fourth quarter. The building materials manufacturer swung to a loss and reported lower sales, primarily due to weak demand trends in the U.S. housing market.

For the third quarter, Owens-Corning reported a loss of $494 million, or $5.93 per share, compared to a profit of $321 million, or $3.65 per share, in the same period last year. The company's adjusted earnings per share came in at $3.67, missing analyst estimates of $3.71. Revenue fell 2.9% to $2.68 billion, also falling short of Wall Street expectations of $2.7 billion. The poor performance was largely attributed to a $780 million non-cash impairment charge related to its Doors business, reflecting the weak near-term market environment.

Adding to investor concerns, Owens-Corning provided a gloomy outlook for the fourth quarter. The company expects sales to remain under pressure, forecasting Q4 revenue 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. Despite efforts to mitigate tariff impacts, the challenging market conditions and year-end inventory destocking are expected to weigh heavily on the business in the coming months.