Owens Corning Stock Price, News & Analysis

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.