18 May, 2022
Owens Corning Earns No. 1 Ranking on 100 Best Corporate Citizens List for an Unprecedented Fourth Year in a Row
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Owens Corning (NYSE: OC) earned the top spot on the 100 Best Corporate Citizens list for 2022, announced today by 3BL Media. This is the fourth consecutive year the company has earned the top spot, surpassing its achievement last year of becoming the first company ever ranked number one more than two years in a row. “With our mission to build a sustainable future through material innovation, this recognition reinforces the importance of the work we do and the way we do it,” said Chair and Chief Executive Officer Brian Chambers. “It’s an honor for our 20,000 colleagues to be recognized for the fourth consecutive year and inspires us to continue toward our goals to increase the positive impacts of our products, reduce the negative impacts of our operations, and help our employees and communities thrive.” The annual 100 Best Corporate Citizens list recognizes outstanding environmental, social and governance (ESG) transparency and performance among the 1,000 largest, publicly traded U.S.
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27 April, 2022
Owens Corning Delivers Record Net Sales of $2.3 Billion, Generates Net Earnings of $304 Million and Adjusted EBIT of $417 Million
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Owens Corning (NYSE: OC), a global building and construction materials leader, today reported first-quarter 2022 results. Reported Net Sales Increase of 23% to $2.3 Billion Expanded Adjusted EBITDA Margins to 23% and Adjusted EBIT Margins to 18% Delivered Diluted EPS of $3.03 and Adjusted Diluted EPS of $2.84 Generated Operating Cash Flow of $158 Million and Free Cash Flow of $51 Million Returned $264 Million of Free Cash Flow to Shareholders through Dividends and Share Repurchases “Building on the momentum from an outstanding 2021, Owens Corning delivered another great quarter to start the year. Our results are being driven by continued strong execution by our teams along with the structural improvements and strategic investments we are making to generate higher, more resilient earnings,” said Chair and Chief Executive Officer Brian Chambers. “We remain focused on servicing our customers’ near-term demand while also positioning ourselves to capitalize on longer-term secular trends
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25 April, 2022
Owens Corning to Acquire WearDeck®, a Premium Composite Decking and Structural Lumber Manufacturer
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Transaction Supports Company’s Strategy to Strengthen Position in Building and Construction Products Owens Corning (NYSE: OC) announced today that it signed an agreement with JR Plastics Corporation to acquire WearDeck ® , a premium producer of composite weather-resistant decking for commercial and residential applications in North America. The transaction is subject to regulatory approvals and other customary conditions, and is anticipated to close by the end of the second quarter. WearDeck products offer a long-lasting, strong, and durable solution for weather-resistant decking. This decking can be used for both commercial and residential applications, given its mechanical performance and lower lifetime costs compared with conventional composite decking. Using proprietary technology and processes, WearDeck products are manufactured from high-density polyethylene (HDPE) leveraging Owens Corning’s glass fiber technology, delivering a high-performance product that is stronger than most
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