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 reports news as a NYSE-listed building products company focused on roofing, insulation and doors for residential markets in North America and Europe. Recurring updates cover quarterly and annual operating results, margin trends, non-GAAP measures, dividend declarations, product and process innovation, and capital allocation tied to its branded building-products strategy.
Company news also reflects Owens Corning's portfolio reshaping, including completed divestitures such as the glass reinforcements business and building materials operations in China and Korea. Other developments address the Doors business, impairment charges, governance and leadership changes, and the company's integrated go-to-market approach across its core product categories.
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.
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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