05 December, 2024
Owens Corning Announces 15% Dividend Increase
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Owens Corning (NYSE: OC) today announced that its Board of Directors has declared a quarterly cash dividend of $0.69 per common share, a 15% increase compared to the prior quarterly dividend. The dividend will be payable on January 17, 2025, to shareholders of record as of January 6, 2025. Future dividend declarations will be made at the discretion of the Board of Directors and will be based on the company’s earnings, financial condition, cash requirements, future prospects, and other factors. About Owens Corning Owens Corning is a residential and commercial building products leader committed to building a sustainable future through material innovation. Our four integrated businesses – Roofing, Insulation, Doors, and Composites – provide durable, sustainable, energy-efficient solutions that leverage our unique material science, manufacturing, and market knowledge to help our customers win and grow. We are global in scope, human in scale with more than 25,000 employees in 31 countries
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04 December, 2024
Owens Corning Elects Michelle Collins to Board of Directors; W. Howard Morris to Not Stand for Re-election
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Owens Corning (NYSE: OC) announced today that Michelle Collins, former Vice Chair, Senior Audit Partner, and National Automotive Sector Leader for Deloitte & Touche LLP, has been elected to the company’s Board of Directors. She has been appointed to serve on the Audit Committee and Finance Committee. In addition, W. Howard Morris has announced that he will not stand for re-election at the company’s next Annual Meeting of Stockholders. “We are pleased to welcome Michelle to our Board of Directors,” said Brian Chambers, Chair and Chief Executive Officer. “With over four decades of deep financial expertise and advising companies across multiple industries, she will bring significant value and insights to our Board and Owens Corning as we remain focused on sustaining our strong financial performance while executing our strategic agenda.” Ms. Collins joined Deloitte & Touche in 1984, where she served as an audit partner working with Deloitte’s largest global audit clients from 1996
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06 November, 2024
Owens Corning Delivers Net Sales of $3.0 Billion; Generates Net Earnings of $321 Million and Adjusted EBIT of $582 Million
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Owens Corning (NYSE: OC), a residential and commercial building products leader, today reported third-quarter 2024 results. Reported Net Sales of $3.0 Billion, a 23% Increase from Prior Year, with Newly Acquired Doors Business Contributing $573 Million in Revenue Generated Net Earnings Margin of 11%, Adjusted EBIT Margin of 19%, and Adjusted EBITDA Margin of 25% Delivered Diluted EPS of $3.65 and Adjusted Diluted EPS of $4.38 Produced Operating Cash Flow of $699 Million and Free Cash Flow of $558 Million Returned $252 Million to Shareholders through Dividends and Share Repurchases "Our third-quarter results demonstrate the impact of the strategic choices and structural improvements we have made to strengthen Owens Corning and build a company that continues to deliver strong free cash flow and sustainably higher margins despite a challenging market environment. The strong execution of our team, combined with the key initiatives and investments we are undertaking, is accelerating our
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