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) and Pultron Composites have agreed to form a joint venture focused on manufacturing fiberglass rebar, enhancing sustainable concrete reinforcement solutions. This collaboration aims to increase market access for PINKBAR®+ and MATEENBAR™ Fiberglass Rebar, more effective replacements for steel rebar. The North American rebar market is valued at approximately $9 billion, growing at an annual rate of about 4%, with fiberglass rebar currently under 1% of that market, signaling significant growth potential.
Owens Corning (NYSE: OC) has successfully acquired WearDeck®, a premium composite decking and structural lumber manufacturer based in Ocala, Florida. This acquisition aims to bolster Owens Corning's Composites business, focusing on high-value material solutions for the building and construction sector. The North American decking market, valued at over $7 billion, is projected to grow at approximately 5% annually. With this acquisition, Owens Corning anticipates significant growth, contributing to its target of $10 billion in revenue by 2024.
Owens Corning (NYSE: OC) has been ranked first on the 100 Best Corporate Citizens list for 2022 by 3BL Media, marking the fourth consecutive year it has topped this prestigious ranking. The recognition highlights the company’s commitment to sustainability, environmental, social, and governance (ESG) transparency. Owens Corning aims to double its product handprint while halving its environmental footprint by 2030. The list evaluates companies based on 155 criteria across eight categories, emphasizing their overall ESG performance.
Owens Corning (NYSE: OC) reported strong first-quarter 2022 results, with net sales increasing by 23% to $2.3 billion. The company achieved a diluted EPS of $3.03, marking a 53% increase year-over-year. Adjusted EBITDA margins expanded to 23%, while operating cash flow reached $158 million. The firm returned $264 million to shareholders through dividends and share repurchases. Owens Corning is acquiring WearDeck® to enhance its Composites business and plans to divest its DUCS product line, which could affect revenue. The outlook remains positive for Q2 2022.
Owens Corning has signed an agreement to acquire WearDeck, a leader in composite weather-resistant decking, enhancing its position in the building materials sector. The acquisition, pending regulatory approvals, is expected to be finalized by the end of Q2. WearDeck, which anticipates $60 million in sales for 2022, offers durable, cost-effective solutions that utilize Owens Corning's advanced glass fiber technology. This strategic move aims to leverage WearDeck's products to capture a share of the growing $7 billion North American decking market.
Owens Corning (NYSE: OC) is set to release its first-quarter financial results on April 27, 2022, prior to the NYSE opening. A conference call is scheduled for 9 a.m. ET to discuss these results. Investors can access the call through a webcast, which will also be available for replay for a year. Owens Corning, a leader in building and construction materials, reported $8.5 billion in sales for 2021, focusing on sustainable, energy-efficient solutions through its integrated businesses.
Owens Corning (NYSE: OC) reported a significant 20% increase in net sales for 2021, reaching $8.5 billion, with net earnings of $1.0 billion, yielding a diluted EPS of $9.54. The company enhanced Adjusted EBITDA margins to 22% and returned 62% of free cash flow to shareholders. Q4 results showed an 11% sales growth year-over-year, driven by favorable selling prices. The board approved a 10 million share repurchase plan, reflecting strong cash generation and a commitment to shareholder return.
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