19 March, 2024
Owens Corning Publishes 2023 Sustainability Report
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Owens Corning (NYSE: OC) today published its 2023 Sustainability Report, Making the Difference , outlining the company’s progress toward its 2030 sustainability goals. “Owens Corning demonstrated outstanding financial and sustainability results in 2023, showcasing the power of our company’s mission to build a sustainable future through material innovation,” said Board Chair and Chief Executive Officer Brian Chambers. “This report reflects the global scope of our people and our products and the many ways they work to make the world a better place.” This marks the 18th sustainability report from Owens Corning, which published its first report in 2006. “Our 2030 sustainability goals are growing ever closer, and we believe that the targets we have set for ourselves are well within our reach,” said David Rabuano, senior vice president and chief sustainability officer. “This confidence is the result of our employees’ unparalleled engagement and enthusiasm for our mission coupled with our
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14 February, 2024
Owens Corning Delivers Full-Year Net Sales of $9.7 Billion; Generates Earnings of $1.2 Billion and Adjusted EBIT of $1.8 Billion
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Owens Corning (NYSE: OC), a global building and construction materials leader, today reported fourth-quarter and full-year 2023 results. Reported Net Sales of $9.7 Billion, Down Slightly from Prior Year Expanded 2023 Adjusted EBIT Margins to 19% and Adjusted EBITDA Margins to 24% Delivered Diluted EPS of $13.14 and Adjusted Diluted EPS of $14.42 Generated Operating Cash Flow of $1.7 Billion and Free Cash Flow of $1.2 Billion Returned $812 Million, or 68%, of Free Cash Flow to Shareholders through Dividends and Share Repurchases “These outstanding results for the fourth quarter and full year demonstrate the strength of our team, the value of our products, and the impact of our enterprise strategy to increase the earnings power of the company and create value for our customers and shareholders,” said Chair and Chief Executive Officer Brian Chambers. “Looking ahead, we will continue to focus on delivering outstanding results in the near-term as we execute the strategic moves announced
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09 February, 2024
Owens Corning Announces $3.9 Billion Acquisition of Masonite to Strengthen Position in Building and Construction Materials
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Expands Owens Corning’s leadership position in branded residential products with a leading manufacturer of innovative interior and exterior doors and door systems Creates a scalable new growth platform within a $27 billion addressable market leveraging combined commercial, operational, and innovation capabilities Enhances Owens Corning’s attractive financial profile by growing revenue and earnings to approximately $12.6 billion, with adjusted EBITDA of $2.9 billion on a pro forma basis 1 including cost synergies of approximately $125 million generated through scale and operational savings Reinforces disciplined capital allocation strategy with net debt-to-EBITDA resulting from the transaction in the 2-3x target range and additional deleverage to 2.0x by year-end 2024; low double-digit percentage accretive to free cash flow by end of 2025 Owens Corning also announces strategic review of its glass reinforcements business within the company’s Composites segment Owens Corning will host
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