Owens Corning Stock Price, News & Analysis

Owens Corning (NYSE: OC) has declared a quarterly cash dividend of $0.35 per common share, representing a 35% increase from the previous quarter. This dividend will be payable on January 21, 2022, to shareholders of record as of January 7, 2022. The company highlighted its strong cash flow performance, reinforcing confidence in its earnings capability. Future dividends will be determined by the Board based on earnings and financial conditions.

Owens Corning outlined its 2024 financial targets during a recent virtual Investor Day, aiming for annual revenue of $10 billion and mid-teen operating margins. The company plans to bolster its core building and construction products while expanding into multimaterial and prefabricated building solutions. It also aims to achieve over 100% free cash flow conversion of adjusted net income and return about 50% of free cash flow to shareholders. Sustainability remains a priority, with over 60% of revenue from energy-saving products and a commitment to ambitious goals for 2030.

Owens Corning reported strong third-quarter 2021 results with net sales of $2.2 billion, an increase of 16% from the previous year. Net earnings reached $260 million, or $2.50 per diluted share. Adjusted EBIT stood at $400 million, maintaining an impressive margin of 18%. All business segments recorded double-digit margins for the fifth consecutive quarter. Operating cash flow was $466 million with free cash flow of $400 million. The company continues to prioritize returns to shareholders, having repurchased shares and declared dividends.

Owens Corning has unveiled "Bourbon" as the 2022 Shingle Color of the Year, adding to its TruDefinition Duration Designer Colors Collection. This addition features a smooth finish and combines shades of steely gray-blue and butterscotch, aiming to enhance home aesthetics while maintaining high performance. The launch emphasizes design versatility, supported by three inspirational style boards: Northwest Craftsman, Mediterranean, and Modern Prairie. Owens Corning continues to receive accolades, being named America’s most recommended roofing products, particularly favored by women for their style and functionality.

Owens Corning (NYSE: OC) will hold its 2021 virtual Investor Day on November 10, from 8:30 a.m. to 12:30 p.m. ET. The event, hosted by CEO Brian Chambers and CFO Ken Parks, will showcase presentations from senior management focusing on the company's performance, enterprise strategy, and financial goals. A live webcast will be available, and pre-registration is recommended for convenient access. The archived replay and slide presentations will also be accessible on the Investor Relations website.

Owens Corning (NYSE: OC) will announce its third-quarter 2021 financial results on October 27, 2021, prior to the NYSE opening. A conference call for results discussion is scheduled for 9 a.m. ET the same day. Interested participants can access the call by dialing in 10-15 minutes early. A replay will be available for one year. Owens Corning focuses on insulation, roofing, and fiberglass composite materials, with 2020 sales of $7.1 billion. The company has maintained its Fortune 500 status for 67 consecutive years, leveraging the workforce of 19,000 employees across 33 countries.

Owens Corning (NYSE: OC) has declared a quarterly cash dividend of $0.26 per common share, payable on November 5, 2021, to shareholders of record as of October 22, 2021. Future dividends will depend on various factors such as the company's earnings, financial health, and prospects. Owens Corning is a leader in building and industrial materials, generating $7.1 billion in sales in 2020, with a committed workforce of 19,000 employees across 33 countries.

Owens Corning's Insulation business has won the National Preferred Partner Award from David Weekley Homes for the ninth consecutive year. This award recognizes their innovation, quality, and customer service among 140 evaluated companies. The recognition reflects the resilience and commitment of Owens Corning's team in a challenging market. Additionally, the company has launched PINK Next Gen™ Fiberglas™ insulation, designed to meet building codes and aid homebuilders in a post-pandemic environment.