Officials had been holding out hope that the firm could still meet its target of
However, on Friday the company said that business hasn't recovered as quickly as officials thought it might, with weakness continuing through April and May. OC said volumes may be down by as much as 20 percent in the year'?s first half compared to last year.
In a news release, OC said it expects to recover a portion of that shortfall in the second half of the year, "however, continued weakness in the second quarter has introduced further uncertainty in the full-year financial outlook for the company's roofing business."
"The factors that play into that, as they relate to our company and our point of view on the industry, is commentary and color we will provide during our
"The winter certainly didn't help, but it gave a lot of people a really handy scapegoat for what'?s really going on and what's really going on is an affordability problem," Ms. Karol said.
She said builders were facing rising material prices, while consumers are continuing to see slow wage growth.
Ms. Karol couldn't speak directly about OC'?s situation, but said many industry observers lowered their expectations following Federal Reserve Board Chair
There are some signs that the housing industry could turn around, though.
"Consumers are still hesitant, and are waiting for clear signals of full-fledged economic recovery before making a home purchase," NAHB Chief Economist
The association also noted that single-family building permits were up almost 4 percent in the most recent government data. Officials with the association said they are sticking to their previous expectation of a 12 percent increase in housing starts over last year.
IHS is projecting a better market for housing starts in the second half of the year.
"We do think it's going to pick up by the end of the year," Ms. Karol said. "We don'?t think it's going to be a dramatic pickup, we just think right now it's in a holding pattern."
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