Welcome to our dedicated page for Owens Corning news (Ticker: OC), a resource for investors and traders seeking the latest updates and insights on Owens Corning stock.
Owens Corning (NYSE: OC) is a global leader in the development, manufacturing, and marketing of insulation, roofing, and fiberglass composites. Headquartered in Toledo, Ohio, the company has been a staple in the Fortune 500® list for 61 consecutive years and employs approximately 15,000 people across 26 countries.
Owens Corning operates in three main segments: Composites, Insulation, and Roofing. The Composites segment produces glass fiber used in thousands of products, enhancing their strength, durability, and weight reduction. The Insulation segment focuses on energy-saving solutions for both commercial and residential buildings, improving overall comfort and efficiency. The Roofing segment, the largest revenue generator, includes laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt.
Recent achievements include continued innovation in sustainable building materials and systems that not only save energy but also enhance the comfort of living spaces. Owens Corning maintains a robust financial position, evidenced by its 2014 sales of $5.3 billion. The company is also known for its commitment to sustainability and inclusion, making significant contributions to environmental and social governance (ESG) initiatives.
Through partnerships and collaborations, Owens Corning remains at the forefront of building science, continuously developing products that make structures lighter, stronger, and more durable. The company's ongoing projects focus on expanding its market presence and improving product offerings to meet evolving consumer and industry demands.
For more information, visit www.owenscorning.com.
Owens Corning (NYSE: OC) reported strong Q3 2024 results with net sales of $3.0 billion, up 23% year-over-year, largely driven by the newly acquired Doors business contributing $573 million. The company achieved net earnings of $321 million with an 11% margin, and adjusted EBIT of $582 million with a 19% margin. Diluted EPS was $3.65, while adjusted diluted EPS reached $4.38. The company generated operating cash flow of $699 million and returned $252 million to shareholders through dividends and share repurchases. Notable developments include plans for a new fiberglass insulation line in Kansas and an agreement to sell its building materials business in China and Korea.
Owens Corning (NYSE: OC) has announced its 2025 Shingle Color of the Year: "Merlot". This sophisticated red shingle color combines warm gray, oaky brown, and spiced sienna with deep crimson and earthy purple undertones. It's designed to enhance a home's exterior, adding depth, richness, and curb appeal.
The versatile "Merlot" can complement various exterior colors and finishes on both vintage and contemporary homes. It's part of the TruDefinition® Duration® Designer shingle line, offering premium protection and performance against weather conditions. The shingles feature patented SureNail® Technology for wind uplift protection.
Owens Corning provides design resources and style boards to help homeowners visualize how "Merlot" can enhance their home's exterior. This initiative builds on the company's legacy of color leadership, with "Merlot" being the ninth Shingle Color of the Year and the first "red" in the portfolio.
Owens Corning (NYSE:OC) has been recognized as one of the 100 Best Corporate Citizens of 2024 by 3BL, ranking fourth overall among the largest public companies in the U.S. This marks the seventh consecutive year Owens Corning has ranked in the top 10 overall and the fifth year in a row leading the capital goods industry.
The ranking evaluates Russell 1,000 companies based on 223 ESG factors across seven pillars: climate change, employee relations, environment, governance, human rights, stakeholders and society, and overall performance. The assessment relies solely on publicly available data published between August 2023 and August 2024.
David Rabuano, senior vice president and chief sustainability officer of Owens Corning, emphasized the company's commitment to sustainability and its 25,000 employees' dedication to making the world a better place.
Owens Corning (NYSE: OC) has been named one of the 100 Best Corporate Citizens of 2024 by 3BL, ranking fourth overall among the largest public companies in the U.S. This marks the seventh consecutive year Owens Corning has placed in the top 10 and the fifth year in a row leading the capital goods industry. The ranking evaluates Russell 1,000 companies based on 223 ESG factors across seven pillars, including climate change, employee relations, environment, governance, human rights, stakeholders and society, and overall performance.
David Rabuano, senior vice president and chief sustainability officer, emphasized the company's commitment to sustainability and its 25,000 employees' dedication to making the world a better place. The ranking relies solely on publicly available data, with no fee for consideration or data verification.
Owens Corning (NYSE: OC) has announced that it will release its third-quarter financial results on Wednesday, November 6, 2024, before the New York Stock Exchange opens. The company will host a conference call at 9 a.m. ET on the same day to discuss the results.
Investors and analysts can access the webcast of the call at https://events.q4inc.com/attendee/255275100. A replay of the webcast will be available for one year using the same link. For those joining by phone, the entry code is 676145. U.S. callers should dial 1.833.470.1428, Canadian callers 1.833.950.0062, and other international callers +1.404.975.4839.
A telephone replay will be available for one week after the call, until November 13, 2024, using the conference replay entry code 157874.
Owens Corning (NYSE: OC) has announced a quarterly cash dividend of $0.60 per common share. The dividend is set to be paid on November 4, 2024, to shareholders of record as of October 18, 2024. This decision was made by the company's Board of Directors. Owens Corning has stated that future dividend declarations will be at the discretion of the Board and will be based on various factors including the company's earnings, financial condition, cash requirements, and future prospects.
Owens Corning (NYSE: OC) will showcase its composites solutions at CAMX 2024 in San Diego, emphasizing their power to 'Make More Possible'. The company will present several innovative products:
1. SUSTAINA® Glass: Made with circular content, UL-Certified with 35%, 50%, and 100% circular content.
2. HP2 Glass: High-performance glass reducing weight profiles by over 9.5% for pultrusion and 11% in filament winding for poles.
3. Smart Packaging Solutions: OPTISPRAY® 4-high pallet line enabling one-third more product per pallet.
4. Local Supply: Demonstrating productivity benefits and reduced carbon emissions.
These innovations support Owens Corning's strategy of partnering with customers to boost product innovation, productivity, and sustainability.
Owens Corning (OC) has broken ground on a major sustainability investment at its Paroc Hällekis plant in Sweden. The project involves converting coke-fired furnaces to electric melting, which is expected to reduce the plant's scope 1 and 2 emissions by about 80%. The investment includes a new 7,500-square-metre facility with two buildings: one for the electrified furnace and another for raw materials handling and filtration processes.
Key points:
- Project scheduled for completion in 2027
- Will reduce embodied carbon in products produced at Hällekis
- Contributes to OC's goal of 50% absolute reduction in Scope 1 and 2 emissions by 2030
- Receives support from the Swedish Energy Agency's Industrial Leap program
- OC granted €35,000 to local charity Hallekis IF during the ceremony
Owens Corning's Toledo-based interns participated in the company's annual Intern Volunteer Day, demonstrating their commitment to community service. The interns collaborated with various local charities, embodying Owens Corning's values of being caring, committed, curious, and collaborative. This event showcases the company's dedication to corporate social responsibility and community engagement, while also providing valuable experiences for their interns. The initiative reflects positively on Owens Corning's (OC) corporate culture and its efforts to foster a sense of social responsibility among its workforce.
Josh Casemier, a utilities maintenance supervisor at Owens Corning's (OC) Composites plant in Amarillo, Texas, shares insights on water conservation efforts. He participated in a Treasure Hunt in Kansas City, collaborating with the U.S. Department of Energy to find cost-effective improvement opportunities. Josh emphasizes the importance of intentional water management, especially in water-stressed areas like Amarillo.
Key initiatives include:
- Implementing a water recycling system for air scrubbers, saving millions of gallons annually
- Focusing on fixing small leaks to prevent significant water waste
- Setting ambitious water consumption reduction goals for 2030
The company's efforts align with its 2023 Sustainability Report, showcasing OC's commitment to responsible resource management and environmental stewardship.
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