“We continue to invest in new product and process innovation in our core product platforms to generate additional growth. These innovations focused on increasing the performance and durability of our product offerings, which brings additional value to our customers.”

Brian Chambers – Board Chair & Chief Executive Officer
February 14, 2024 – Q4/FY 2023 Earnings Call

Why Owens Corning

OWENS CORNING develops, manufactures and markets insulation, roofing, and fiberglass composites. A Fortune 500® company for 69 consecutive years, the company develops solutions that save energy and improve comfort in commercial and residential buildings. Through its glass reinforcements business, Owens Corning makes thousands of products lighter, stronger and more durable.

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Stock Quote

Price149.78 Change-0.12 Volume: 105 % Change-0.08% February 29, 2024 Pricing delayed 20 minutes

Press Releases

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 PDF format download (opens in new window)
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 ...
09 February, 2024 Owens Corning Announces $3.9 Billion Acquisition of Masonite to Strengthen Position in Building and Construction Materials PDF format download (opens in new window)
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 ...
09 February, 2024 Owens Corning Initiates Review of Strategic Alternatives for Glass Reinforcements Business as part of Transformative Move to Strengthen Position in Building and Construction Materials PDF format download (opens in new window)
Owens Corning (NYSE: OC), a global building and construction materials leader, today announced that the company has decided to review strategic alternatives for its global glass reinforcements (GR) business. The decision to explore alternatives for the GR business is consistent with the company’s strategy to focus on building and construction materials. The business, which operates within the company’s Composites segment, manufactures, fabricates, and sells glass fiber reinforcements in a variety of product forms. The GR business generates annual revenues of approximately $1.3 billion and has operations in 11 countries, with 18 manufacturing facilities. The business supplies a wide variety of glass fiber products for applications in wind energy, infrastructure, industrial, transportation, and consumer markets. Owens Corning’s vertically integrated glass nonwovens business that supports the Roofing segment and other building products customers, along with the recently acquired WearDeck ...

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