Owens Corning Stock Price, News & Analysis

Owens Corning (NYSE: OC) has announced the election of Michelle Collins to its Board of Directors. Collins, former Vice Chair, Senior Audit Partner, and National Automotive Sector Leader for Deloitte & Touche LLP, will serve on the Audit and Finance Committees. The company also announced that W. Howard Morris will not seek re-election at the next Annual Meeting of Stockholders after serving 17 years on the board.

Collins brings over four decades of financial expertise, having joined Deloitte & Touche in 1984 and served as an audit partner from 1996 until her recent retirement. The Board size will temporarily increase to 11 directors with Collins' election and will return to 10 directors following the 2025 Annual Meeting of Stockholders.

Owens Corning (NYSE: OC) reported strong Q3 2024 results with net sales of $3.0 billion, up 23% year-over-year, largely driven by the newly acquired Doors business contributing $573 million. The company achieved net earnings of $321 million with an 11% margin, and adjusted EBIT of $582 million with a 19% margin. Diluted EPS was $3.65, while adjusted diluted EPS reached $4.38. The company generated operating cash flow of $699 million and returned $252 million to shareholders through dividends and share repurchases. Notable developments include plans for a new fiberglass insulation line in Kansas and an agreement to sell its building materials business in China and Korea.

Owens Corning (NYSE: OC) has announced its 2025 Shingle Color of the Year: "Merlot". This sophisticated red shingle color combines warm gray, oaky brown, and spiced sienna with deep crimson and earthy purple undertones. It's designed to enhance a home's exterior, adding depth, richness, and curb appeal.

The versatile "Merlot" can complement various exterior colors and finishes on both vintage and contemporary homes. It's part of the TruDefinition® Duration® Designer shingle line, offering premium protection and performance against weather conditions. The shingles feature patented SureNail® Technology for wind uplift protection.

Owens Corning provides design resources and style boards to help homeowners visualize how "Merlot" can enhance their home's exterior. This initiative builds on the company's legacy of color leadership, with "Merlot" being the ninth Shingle Color of the Year and the first "red" in the portfolio.

Owens Corning (NYSE:OC) has been recognized as one of the 100 Best Corporate Citizens of 2024 by 3BL, ranking fourth overall among the largest public companies in the U.S. This marks the seventh consecutive year Owens Corning has ranked in the top 10 overall and the fifth year in a row leading the capital goods industry.

The ranking evaluates Russell 1,000 companies based on 223 ESG factors across seven pillars: climate change, employee relations, environment, governance, human rights, stakeholders and society, and overall performance. The assessment relies solely on publicly available data published between August 2023 and August 2024.

David Rabuano, senior vice president and chief sustainability officer of Owens Corning, emphasized the company's commitment to sustainability and its 25,000 employees' dedication to making the world a better place.

Owens Corning (NYSE: OC) has been named one of the 100 Best Corporate Citizens of 2024 by 3BL, ranking fourth overall among the largest public companies in the U.S. This marks the seventh consecutive year Owens Corning has placed in the top 10 and the fifth year in a row leading the capital goods industry. The ranking evaluates Russell 1,000 companies based on 223 ESG factors across seven pillars, including climate change, employee relations, environment, governance, human rights, stakeholders and society, and overall performance.

David Rabuano, senior vice president and chief sustainability officer, emphasized the company's commitment to sustainability and its 25,000 employees' dedication to making the world a better place. The ranking relies solely on publicly available data, with no fee for consideration or data verification.

Owens Corning (NYSE: OC) has announced that it will release its third-quarter financial results on Wednesday, November 6, 2024, before the New York Stock Exchange opens. The company will host a conference call at 9 a.m. ET on the same day to discuss the results.

Investors and analysts can access the webcast of the call at https://events.q4inc.com/attendee/255275100. A replay of the webcast will be available for one year using the same link. For those joining by phone, the entry code is 676145. U.S. callers should dial 1.833.470.1428, Canadian callers 1.833.950.0062, and other international callers +1.404.975.4839.

A telephone replay will be available for one week after the call, until November 13, 2024, using the conference replay entry code 157874.

Owens Corning (NYSE: OC) has announced a quarterly cash dividend of $0.60 per common share. The dividend is set to be paid on November 4, 2024, to shareholders of record as of October 18, 2024. This decision was made by the company's Board of Directors. Owens Corning has stated that future dividend declarations will be at the discretion of the Board and will be based on various factors including the company's earnings, financial condition, cash requirements, and future prospects.

Owens Corning (NYSE: OC) will showcase its composites solutions at CAMX 2024 in San Diego, emphasizing their power to 'Make More Possible'. The company will present several innovative products:

1. SUSTAINA® Glass: Made with circular content, UL-Certified with 35%, 50%, and 100% circular content.

2. HP2 Glass: High-performance glass reducing weight profiles by over 9.5% for pultrusion and 11% in filament winding for poles.

3. Smart Packaging Solutions: OPTISPRAY® 4-high pallet line enabling one-third more product per pallet.

4. Local Supply: Demonstrating productivity benefits and reduced carbon emissions.

These innovations support Owens Corning's strategy of partnering with customers to boost product innovation, productivity, and sustainability.

Owens Corning (OC) has broken ground on a major sustainability investment at its Paroc Hällekis plant in Sweden. The project involves converting coke-fired furnaces to electric melting, which is expected to reduce the plant's scope 1 and 2 emissions by about 80%. The investment includes a new 7,500-square-metre facility with two buildings: one for the electrified furnace and another for raw materials handling and filtration processes.

Key points:

• Project scheduled for completion in 2027
• Will reduce embodied carbon in products produced at Hällekis
• Contributes to OC's goal of 50% absolute reduction in Scope 1 and 2 emissions by 2030
• Receives support from the Swedish Energy Agency's Industrial Leap program
• OC granted €35,000 to local charity Hallekis IF during the ceremony