Owens Corning - OC STOCK NEWS

Owens Corning (NYSE: OC) declared a quarterly cash dividend of $0.52 per common share, payable on April 6, 2023, to shareholders on record as of March 3, 2023. This decision reflects the company's commitment to returning value to its shareholders. Future dividends will depend on the company's earnings, financial conditions, cash requirements, and other relevant factors. Owens Corning, a leader in building and construction materials, reported $8.5 billion in sales for 2021, operating three integrated businesses focused on sustainability and energy efficiency, employing around 19,000 people across 31 countries.

Owens Corning (NYSE: OC) is set to showcase its insulation product line at the International Builders’ Show (IBS) from January 31 to February 2 in Las Vegas. The company will highlight its newly acquired Natural Polymers spray foam products, designed to meet stringent energy codes and enhance indoor air quality. Notable products include the Ultra-Pure low VOC spray foam insulation, which is GREENGUARD Gold Certified. Additionally, the company will present its award-winning PINK Next Gen Fiberglas insulation. Owens Corning aims to strengthen its market position through innovation and comprehensive product offerings.

Owens Corning (NYSE: OC) is set to release its fourth-quarter and full-year 2022 financial results on February 15, 2023, prior to market opening. A conference call to discuss the financial results will take place at 9 a.m. ET the same day. For those unable to attend, a webcast replay will be available for one year. The company, headquartered in Toledo, Ohio, is a leader in building materials with approximately 19,000 employees globally and reported sales of $8.5 billion in 2021.

Owens Corning (NYSE: OC) has successfully exited the Russian market by selling its operations to Umatex, a local carbon fiber producer. The transaction involved a Composites plant in Gous-Khroustalny and an Insulation plant in Tver/Izoplit, which together generated approximately $85 million in net sales for the nine months ending September 30, 2022. The company confirmed its guidance for modest net sales and earnings growth in Q4 compared to 2021, marking the completion of its withdrawal from Russia.

Owens Corning (NYSE: OC) has announced a significant 50% increase in its quarterly cash dividend to $0.52 per share, effective January 19, 2023. The Board also approved a share repurchase authorization for up to 10 million shares, alongside the remaining 7.4 million shares from a previous program. This reflects the company's strong performance, earnings potential, and commitment to shareholder value, with $639 million returned to shareholders in the first nine months of 2022. The emphasis on maintaining a solid balance sheet and consistent cash flow generation is notable.

Owens Corning (NYSE: OC) announced enhanced shingle recycling initiatives aimed at recycling two million tons of shingles annually in the U.S. by 2030. The company is focusing on two recycling methods: converting shingles into new shingles and asphalt pavement. Owens Corning has partnered with ASR Systems and CRS Reprocessing Services for pilot projects and has diverted 40 million pounds of shingles from landfills since 2020. The company continues to emphasize sustainability, highlighted by its 16th annual sustainability report and recognition for its corporate responsibility efforts.

Owens Corning (NYSE: OC) reported a strong third-quarter 2022, with net sales increasing 14% to $2.5 billion and net earnings rising 81% to $470 million. Adjusted EBIT margins expanded to 19%, while diluted EPS surged 94% to $4.84. The company generated $461 million in operating cash flow and returned $239 million to shareholders through dividends and share buybacks. Significant investments in innovation and acquisitions, including Natural Polymers, and a commitment to shareholder returns reflect Owens Corning's robust strategy for sustainable growth amidst shifting market conditions.

Owens Corning has unveiled "Midnight Plum" as its 2023 Shingle Color of the Year, part of the TruDefinition® Duration® shingle line. This color features unique purple undertones, following a successful trend since 2017. Designed to enhance curb appeal, it matches various architectural styles. The company emphasizes the importance of color in home aesthetics, supporting homeowners' personal expression. Additionally, Owens Corning introduced four new shingle colors, reflecting design trends and removing outdated options. With patented SureNail® Technology, these shingles promise durability and performance.