Owens Corning Stock Price, News & Analysis

Owens Corning (NYSE: OC) has successfully acquired Natural Polymers, LLC, a manufacturer of spray polyurethane foam insulation, based in Cortland, Illinois. This acquisition aims to enhance Owens Corning's product offerings and growth strategy in the building and construction sector. The company anticipates that Natural Polymers' technology will support its sustainable solutions initiatives while expanding its portfolio in higher-growth markets. Natural Polymers is known for producing low-VOC spray foam products, contributing to environmentally friendly construction practices.

Owens Corning (NYSE: OC) reported strong second-quarter 2022 results with net sales increasing 16% to $2.6 billion. Adjusted EBIT margins expanded to 20% and diluted EPS rose 24% to $3.49. The company generated operating cash flow of $466 million and free cash flow of $361 million, returning $136 million to shareholders through dividends and share buybacks. Notable acquisitions include WearDeck and Natural Polymers, expected to generate significant sales. For the third quarter, Owens Corning anticipates continued growth in net sales and adjusted EBIT.

Owens Corning (NYSE: OC) will announce its second-quarter financial results on July 27, 2022, before market opening. A conference call is scheduled at 9 a.m. ET to discuss the results. The company, based in Toledo, Ohio, reported $8.5 billion in sales for 2021 and focuses on sustainable building materials through its businesses in Composites, Insulation, and Roofing. Investors can access a webcast replay for one year after the event and are encouraged to dial in early to participate.

Owens Corning (NYSE: OC) has been named a National Preferred Partner by David Weekley Homes for the 10th consecutive year, as announced in the company's press release. The honor, awarded based on the National Preferred Partner Survey, recognizes Owens Corning among the top 12 manufacturers from 138 evaluated. The company emphasizes its commitment to quality and service, highlighted by the successful launch of PINK Next Gen Fiberglas insulation. Owens Corning reported sales of $8.5 billion in 2021, underscoring its strong market position.

Owens Corning (NYSE: OC) showcased its expertise at the AIA A’22 Conference on Architecture in Chicago on June 23-24. The event marks the first in-person gathering since 2019, emphasizing building science advancements and sustainable commercial building practices. Attendees experienced immersive demonstrations of innovative insulation materials, including fire-resistant options and sustainable solutions. Notably, Owens Corning's FOAMULAR NGX and Thermafiber products, recognized for their sustainability and safety, reflect the company’s commitment to high-performing materials. 2021 sales reached $8.5 billion.

Owens Corning (NYSE: OC) has announced plans to acquire Natural Polymers, LLC, a manufacturer of spray polyurethane foam insulation, based in Cortland, Illinois. This acquisition aims to enhance Owens Corning's core insulation offerings and tap into higher-growth markets. Natural Polymers is expected to generate approximately $100 million in sales in 2022, with a track record of double-digit growth anticipated for the coming years. The deal is subject to regulatory approvals and is expected to close in Q3 2022.

Owens Corning (NYSE: OC) has declared a quarterly cash dividend of $0.35 per common share, set to be paid on August 4, 2022, for shareholders who are on record as of July 18, 2022.

This decision reflects the Board of Directors' discretion, considering the company’s earnings, financial conditions, and future prospects. Owens Corning, founded in 1938, posted 2021 sales of $8.5 billion, emphasizing its commitment to sustainable building and construction materials.

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.