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 building products company that regularly issues news on its operations, financial performance, and strategic initiatives. The company describes itself as a building products leader committed to building a sustainable future through material innovation, with products that provide durable, sustainable, energy-efficient solutions in roofing, insulation, composites, and related building materials.
Investors and industry followers can expect Owens Corning news to cover quarterly and annual financial results, including net sales, margins, cash flow, and the use of non‑GAAP metrics such as adjusted EBITDA and adjusted earnings from continuing operations. These results are often accompanied by commentary from senior leadership on market conditions, structural improvements to the business, and capital allocation plans such as dividends and share repurchases.
Company announcements also highlight strategic investments and portfolio actions. Examples include the selection of Prattville, Alabama, as the location for a new shingle plant in the southeastern United States to expand the Roofing manufacturing network, as well as the sale of certain building materials businesses in China and Korea and progress on the planned divestiture of the glass reinforcements business. Such updates provide insight into Owens Corning’s geographic focus and efforts to strengthen its building products portfolio.
Owens Corning news frequently features leadership and organizational updates, such as the appointment or promotion of executives in innovation and information technology roles. These releases describe the company’s focus on product stewardship, process and product innovation, digital tools, and emerging technologies like generative AI and agentic AI as part of its enterprise strategy and The OC Advantage™.
In addition, Owens Corning issues product and branding news, particularly around its roofing business. Announcements include the Shingle Color of the Year and new colors in the TruDefinition® Duration® Designer shingle line, emphasizing the role of roof color in home design and the combination of aesthetics with performance features such as patented SureNail® Technology. Recognition for corporate responsibility and ethics, as well as awards related to its roofing brand, also appear in the company’s news flow.
For readers tracking OC stock, the news stream offers a consolidated view of financial updates, manufacturing investments, portfolio changes, product launches, and corporate governance developments that shape Owens Corning’s position in the building products sector.
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.
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.
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