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Owens Corning - OC STOCK NEWS

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.

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Owens Corning publishes its 2022 Sustainability Report, highlighting progress towards 2030 goals. In 2022, the company achieved a 22% reduction in greenhouse gas emissions and sourced 56% of its electricity from renewable sources. Owens Corning is also involved in the development of a recyclable wind turbine blade and has made strides in promoting diversity and inclusion in its workforce.
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Owens Corning (NYSE: OC) announced its first-quarter 2023 results, reporting net sales of $2.3 billion, consistent with the previous year. The diluted EPS rose by 38% to $4.17, while adjusted diluted EPS fell by 5% to $2.77. The company experienced an operating cash outflow of $164 million and a free cash outflow of $322 million, attributing this to seasonal trends and capital investments. Owens Corning returned $183 million to shareholders through dividends and buybacks, increasing its quarterly cash dividend by 50%. Despite strong performance, the company anticipates a moderate decline in net sales for the second quarter due to ongoing economic challenges. The year-to-date outlook suggests capital additions of approximately $520 million.

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Owens Corning has committed to recycling 2 million tons of asphalt shingles annually in the U.S. by 2030, addressing the waste created by the approximately 12-14 million tons of shingles discarded each year. The company's circular economy initiative aims to convert waste into usable raw materials through innovative recycling processes in partnership with companies like ASR Systems and CRS Reprocessing Services. A pilot program in Indianapolis, launched in December 2022, is exploring methods to extract liquid asphalt from old shingles. This initiative aligns with Owens Corning's sustainability goals of enhancing positive impacts while reducing negative footprints. The company seeks to lead in sustainable practices within the construction industry, addressing critical waste challenges in materials like asphalt and concrete.

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Owens Corning (NYSE: OC) is set to announce its first-quarter 2023 financial results on April 26, 2023, prior to the opening of the New York Stock Exchange. A conference call to discuss these results will take place at 9 a.m. ET on the same day. The company reported $9.8 billion in sales for 2022, showcasing its position as a global leader in building and construction materials, with a focus on sustainability through material innovation.

For further details, investors can join the conference call by dialing in 10-15 minutes early.

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Owens Corning (NYSE: OC) reported substantial financial growth in 2022, achieving a 15% increase in net sales to $9.8 billion and net earnings of $1.2 billion. The company expanded adjusted EBIT margins to 18% and EBITDA margins to 23%, delivering a diluted EPS of $12.70. Operating cash flow was strong at $1.8 billion, with free cash flow of $1.3 billion, returning 71% of this to shareholders. CEO Brian Chambers highlighted ongoing market challenges for 2023, anticipating moderate declines in net sales. Key acquisitions in 2022 included WearDeck® and Natural Polymers, alongside continued investments in product innovation, enhancing long-term growth prospects.

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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.

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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.

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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.

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FAQ

What is the current stock price of Owens Corning (OC)?

The current stock price of Owens Corning (OC) is $169.41 as of December 20, 2024.

What is the market cap of Owens Corning (OC)?

The market cap of Owens Corning (OC) is approximately 14.6B.

What does Owens Corning do?

Owens Corning develops, manufactures, and markets insulation, roofing, and fiberglass composites globally.

What are the main segments of Owens Corning?

The main segments are Composites, Insulation, and Roofing.

Where is Owens Corning headquartered?

Owens Corning is headquartered in Toledo, Ohio.

How many employees does Owens Corning have?

Owens Corning employs about 15,000 people across 26 countries.

What was Owens Corning's sales figure in 2014?

In 2014, Owens Corning posted sales of $5.3 billion.

How long has Owens Corning been a Fortune 500® company?

Owens Corning has been a Fortune 500® company for 61 consecutive years.

Which segment generates the most revenue for Owens Corning?

The Roofing segment generates the most revenue.

What are the key products in the Roofing segment?

The Roofing segment includes laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt.

Is Owens Corning involved in sustainability initiatives?

Yes, Owens Corning is committed to sustainability and inclusion, actively contributing to environmental and social governance initiatives.

Where can I find more information about Owens Corning?

More information can be found on their website at www.owenscorning.com.

Owens Corning

NYSE:OC

OC Rankings

OC Stock Data

14.63B
84.96M
0.93%
97.19%
1.81%
Building Products & Equipment
Abrasive, Asbestos & Misc Nonmetallic Mineral Prods
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United States of America
TOLEDO