Announcement • 16h
Owens Corning Declares Second-Quarter 2026 Dividend, Payable on August 6, 2026 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.79 per common share. The dividend will be payable on August 6, 2026, to shareholders of record as of July 20, 2026. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Michelle Collins was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 08
Owens Corning Provides Earnings Guidance for the Second Quarter of 2026 Owens Corning provided earnings guidance for the second quarter of 2026. For the second-quarter 2026, Owens Corning expects to continue delivering strong financial performance based on structural improvements made to the company and its market-leading positions. Revenue from continuing operations is expected to be approximately $2.6 billion to $2.7 billion. Announcement • May 02
Owens Corning Promotes Todd Fister from Executive Vice President and Chief Financial Officer to Executive Vice President and Chief Financial and Operating Officer, Effective May 1, 2026 Owens Corning announced that Todd Fister has been promoted to Executive Vice President and Chief Financial and Operating Officer, effective May 1, 2026. In this role, Fister will assume responsibility for executing key enterprise initiatives that drive growth and performance. By leveraging The OC Advantages™ – including Owens Corning’s iconic brand, unparalleled commercial strength, leading technology, and winning cost position – he will enhance the execution of the company’s integrated go-to-market strategy while simplifying and standardizing work across the enterprise. These efforts support the company’s ability to structurally lower costs, improve capital efficiency, and redeploy savings to fund organic growth and disciplined capital allocation. Fister has served as Owens Corning’s Executive Vice President and Chief Financial Officer since 2023, and will operate in a combined role providing both operational and financial leadership as the company conducts an external search for a Chief Financial Officer. Fister served as President of the company’s Insulation business from 2019 to 2023 where he led the transformation of the business to deliver growth and stronger margins. More recently, he was a key architect of the enterprise strategy that positions Owens Corning for organic growth and market-leading margins. Fister joined Owens Corning in 2014 after holding leadership roles across finance, corporate development, and strategy at MeadWestvaco, now part of Smurfit Westrock, as well as Kimberly-Clark and Procter & Gamble. Announcement • Apr 15
Owens Corning to Report Q1, 2026 Results on May 06, 2026 Owens Corning announced that they will report Q1, 2026 results Pre-Market on May 06, 2026 Announcement • Mar 16
Owens Corning, Annual General Meeting, Apr 14, 2026 Owens Corning, Annual General Meeting, Apr 14, 2026. Announcement • Feb 25
Owens Corning Provides Earnings Guidance for the First Quarter of 2026 Owens Corning provided earnings guidance for the fourth quarter of 2026. for the quarter, the company expects Revenue from continuing operations is expected to be approximately $2.1 billion to $2.2 billion. Announcement • Feb 07
Owens Corning Announces Director Maryann T. Mannen Will Not Stand for Re-Election Owens Corning announced that Maryann T. Mannen, a director of Owens Corning, advised the Company's Board of Directors that she will not stand for re-election at the Company's 2026 Annual Meeting of Stockholders. Effective upon the 2026 Annual Meeting of Stockholders, the Board intends to reduce the number of directors on the Board from ten to nine. Announcement • Feb 06
Owens Corning Declares First-Quarter 2026 Dividend, Payable on April 9, 2026 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.79 per common share for the First-Quarter of 2026 . The dividend will be payable on April 9, 2026, to shareholders of record as of March 9, 2026. Announcement • Feb 04
Owens Corning to Report Q4, 2025 Results on Feb 25, 2026 Owens Corning announced that they will report Q4, 2025 results Pre-Market on Feb 25, 2026 Announcement • Dec 05
Owens Corning Declares 15% Increased Quarterly Dividend, Payable on January 21, 2026 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.79 per common share, a 15% increase compared to the prior quarterly dividend. The dividend will be payable on January 21, 2026, to shareholders of record as of January 5, 2026. Announcement • Dec 04
Owens Corning Elevates Annie Baymiller to Executive Vice President, Chief Information Officer Owens Corning has elevated Chief Information Officer Annie Baymiller to Executive Vice President, Chief Information Officer. Baymiller has served as the company’s Chief Information Officer since 2023. She joined Owens Corning in 2006 as part of the Information Systems Development Program, and has held a variety of leadership roles focused on digital technology expansion across the company’s market-leading businesses and key geographic regions. Throughout her nearly 20-year career with Owens Corning, she has advanced the company’s enterprise digital capabilities, expanded the use of analytics, and driven digital technology innovation to improve customer engagement and increase operational efficiencies. Her strategic vision has been instrumental in strengthening Owens Corning’s technology roadmap and enabling the company’s growth. Baymiller will continue reporting directly to Chair and Chief Executive Officer Brian Chambers and will serve as a member of the company’s Executive Committee. Announcement • Oct 15
Owens Corning to Report Q3, 2025 Results on Nov 05, 2025 Owens Corning announced that they will report Q3, 2025 results Pre-Market on Nov 05, 2025 Announcement • Sep 19
Owens Corning Declares Third-Quarter 2025 Dividend, Payable on November 6, 2025 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.69 per common share. The dividend will be payable on November 6, 2025, to shareholders of record as of October 20, 2025. Announcement • Jul 16
Owens Corning to Report Q2, 2025 Results on Aug 06, 2025 Owens Corning announced that they will report Q2, 2025 results Pre-Market on Aug 06, 2025 Announcement • Jun 20
Owens Corning Declares Cash Dividend for the Second Quarter of 2025, Payable on August 7, 2025 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.69 per common share for the Second Quarter of 2025. The dividend will be payable on August 7, 2025, to shareholders of record as of July 21, 2025. Announcement • Apr 29
Owens Corning Appoints Rachel Marcon as President of the Company's Doors Business, Effective April 28, 2025 Owens Corning announced that Rachel Marcon has been appointed President of the company's Doors business effective April 28, 2025. Marcon will succeed Chris Ball, who announced his resignation from Owens Corning to pursue another opportunity. She will report directly to Chair and Chief Executive Officer Brian Chambers and serve as a member of the company's Executive Committee. Marcon most recently served as Vice President and General Manager of the global nonwovens business. Appointed in 2021, she was accountable for the growth and performance of the business with assets in North America and Europe, serving global customers in the building and construction markets. Marcon joined Owens Corning in Europe in 2016 as Sales Director nonwovens EMEA and was appointed Business Director nonwovens EMEA in 2019. Prior to her time at Owens Corning, Marcon was Global Sales Director at Euramax, holding sales and marketing leadership roles for their building and construction material products in the U.S. and Europe. Ball will serve as an executive consultant focused on ensuring a successful transition of his responsibilities through his exit at the end of May. Announcement • Apr 16
Owens Corning to Report Q1, 2025 Results on May 07, 2025 Owens Corning announced that they will report Q1, 2025 results Pre-Market on May 07, 2025 Announcement • Mar 17
Owens Corning, Annual General Meeting, Apr 15, 2025 Owens Corning, Annual General Meeting, Apr 15, 2025. Announcement • Mar 04
Owens Corning Announces Executive Changes Owens Corning announced that Gina Beredo has been promoted to the newly created role of Executive Vice President, Chief Administrative Officer & General Counsel of the company. In her expanded role, Ms. Beredo will oversee the company's human resources function along with her existing legal, corporate affairs, aviation, and community affairs responsibilities. Ms. Beredo joined the company in June 2021 as General Counsel. During this time, she has continued to expand her impact and accountabilities, playing a key role in advancing the company's business strategy, including successfully acquiring and integrating Masonite International Corporation and executing the divestiture of the company's glass reinforcements business while also elevating the performance of the legal and corporate affairs functions. The company thank Paula Russell, Executive Vice President and Chief Human Resources Officer, as she begins her planned path to pursue personal growth opportunities aligned with her passions. Paula has worked tirelessly over her 25-year career with the company to modernize its human resources practices and processes and enhance employee engagement and belonging, which has been key to its operational and financial success. Ms. Russell will support a smooth transition of responsibilities through her exit in mid-April. Announcement • Feb 10
Owens Corning to Report Q4, 2024 Results on Feb 24, 2025 Owens Corning announced that they will report Q4, 2024 results Pre-Market on Feb 24, 2025 Announcement • Feb 07
Owens Corning Declares Quarterly Cash Dividend, Payable on April 10, 2025 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.69 per common share. The dividend will be payable on April 10, 2025, to shareholders of record as of March 10, 2025. Announcement • Dec 06
Owens Corning Declares Quarterly Cash Dividend, Payable on January 17, 2025 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.69 per common share, a 15% increase compared to the prior quarterly dividend. The dividend will be payable on January 17, 2025, to shareholders of record as of January 6, 2025. Announcement • Dec 05
Owens Corning Announces Board Changes Owens Corning announced that Michelle Collins, former Vice Chair, Senior Audit Partner, and National Automotive Sector Leader for Deloitte & Touche LLP, has been elected to the company’s Board of Directors. She has been appointed to serve on the Audit Committee and Finance Committee. In addition, W. Howard Morris has announced that he will not stand for re-election at the company’s next Annual Meeting of Stockholders. Ms. Collins joined Deloitte & Touche in 1984, where she served as an audit partner working with Deloitte’s largest global audit clients from 1996 until her recent retirement. She also served as National Automotive Sector Leader and a Senior Partner, consulting with large global clients in the automotive, manufacturing, and consumer industries. Ms. Collins also was a member of the Deloitte & Touche US Board of Directors for six years where she served as Vice Chair, Chair of the Finance and Audit Committee, and Chair of the Governance Committee. Ms. Collins holds a Bachelor of Arts degree in Accounting from Western Michigan University. Mr. Morris’ announcement follows a long and meaningful tenure as a member of the company’s Board of Directors since 2007. With Ms. Collins’ election, the Board of Directors approved increasing the Board size to 11 directors. The Board also approved reducing the Board size back to 10 directors, effective upon the 2025 Annual Meeting of Stockholders. Announcement • Nov 07
Owens Corning Provides Earnings Guidance for the Fourth Quarter of 2024 Owens Corning provided earnings guidance for the fourth quarter of 2024. For the period, despite more challenging market conditions, the company expects to continue delivering strong results, reflecting structural changes to its portfolio and cost structure, the company expects net sales growth around 20%, including overall revenue for the legacy business slightly below fourth-quarter 2023 plus the addition of revenue for the Doors segment. The enterprise is expected to generate mid-teens EBIT margin and EBITDA margin of approximately 20%. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: US$3.69 (vs US$3.74 in 3Q 2023) Third quarter 2024 results: EPS: US$3.69 (down from US$3.74 in 3Q 2023). Revenue: US$3.05b (up 23% from 3Q 2023). Net income: US$321.0m (down 4.7% from 3Q 2023). Profit margin: 11% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 11
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 18 October 2024. Payment date: 04 November 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.0%). Declared Dividend • Sep 23
Second quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 18th October 2024 Payment date: 4th November 2024 Dividend yield will be 1.4%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: US$3.27 (vs US$3.81 in 2Q 2023) Second quarter 2024 results: EPS: US$3.27 (down from US$3.81 in 2Q 2023). Revenue: US$2.79b (up 8.8% from 2Q 2023). Net income: US$285.0m (down 17% from 2Q 2023). Profit margin: 10% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 09
Owens Corning to Report Q2, 2024 Results on Aug 06, 2024 Owens Corning announced that they will report Q2, 2024 results Pre-Market on Aug 06, 2024 Upcoming Dividend • Jul 08
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 02 August 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.2%). Declared Dividend • Jun 24
First quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 15th July 2024 Payment date: 2nd August 2024 Dividend yield will be 1.3%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 21
Owens Corning Declares Second-Quarter 2024 Dividend, Payable on August 2, 2024 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.60 per common share for Second-Quarter 2024. The dividend will be payable on August 2, 2024, to shareholders of record as of July 15, 2024. Recent Insider Transactions • May 30
President of Composites recently sold €1.6m worth of stock On the 24th of May, Marcio Sandri sold around 10k shares on-market at roughly €164 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €6.3m more than they bought in the last 12 months. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$3.43 (vs US$4.20 in 1Q 2023) First quarter 2024 results: EPS: US$3.43 (down from US$4.20 in 1Q 2023). Revenue: US$2.30b (down 1.3% from 1Q 2023). Net income: US$299.0m (down 22% from 1Q 2023). Profit margin: 13% (down from 16% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 24
Owens Corning Provides Earnings Guidance for the Second Quarter of 2024 Owens Corning provided earnings guidance for the second quarter of 2024. For the second quarter, the company expects overall performance to result in net sales in line with second quarter 2023, while generating approximately 20% EBIT margins for its existing businesses. Board Change • Apr 09
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. Independent Director Paul Martin was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 04
Owens Corning to Report Q1, 2024 Results on Apr 24, 2024 Owens Corning announced that they will report Q1, 2024 results Pre-Market on Apr 24, 2024 Upcoming Dividend • Feb 23
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 01 March 2024. Payment date: 04 April 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (5.3%). Lower than average of industry peers (5.5%). Recent Insider Transactions • Feb 16
President of Roofing recently sold €1.0m worth of stock On the 14th of February, Gunner Smith sold around 7k shares on-market at roughly €139 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.2m more than they bought in the last 12 months. Reported Earnings • Feb 15
Full year 2023 earnings released: EPS: US$13.27 (vs US$12.85 in FY 2022) Full year 2023 results: EPS: US$13.27. Revenue: US$9.68b (flat on FY 2022). Net income: US$1.20b (down 3.6% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Building industry in Europe. Announcement • Feb 14
Owens Corning Provides Sales Guidance for the First Quarter of 2024 Owens Corning provided sales guidance for the first quarter of 2024. For the first-quarter 2024, the company expects overall performance to result in net sales slightly below the first quarter of 2023, while generating mid-teens margins. Announcement • Feb 11
Owens Corning (NYSE:OC) entered into an agreement to acquire Masonite International Corporation (NYSE:DOOR) for $3 billion. Owens Corning (NYSE:OC) entered into an agreement to acquire Masonite International Corporation (NYSE:DOOR) for $3 billion on February 8, 2024. As part of consideration, Owens will pay $133 cash for each share of Masonite International Corporation. Upon completion of the arrangement, Masonite will be a wholly owned subsidiary of Owens Corning. Owens Corning intends to fund the consideration with a combination of cash on hand and debt financing. In connection with the entry into the agreement, Owens Corning entered into a commitment letter with Morgan Stanley Senior Funding, Inc. (“ MSSF ”), pursuant to which MSSF has committed to provide, subject to the satisfaction of customary closing conditions, a 364-day senior term loan facility in an aggregate principal amount of up to $3 billion. The receipt of financing by Owens Corning is not a condition to Owens Corning’s obligations to complete the arrangement. The agreement contains certain customary termination rights, including the the right of either Owens Corning or Masonite to terminate the agreement. Inc case of The agreement provides for the payment of termination fees upon termination of the agreement under certain specified circumstances. Masonite will be obligated to pay Owens Corning a termination fee of $75 million. Owens Corning will be obligated to pay Masonite a termination fee of $150 million.
The Board of Directors of the both companies have unanimously approved the transaction. The obligation of the parties to consummate the arrangement is subject to the satisfaction or waiver of certain customary mutual closing conditions, including (a) the adoption of a resolution approving the arrangement by at least two-thirds of the votes cast on the arrangement Resolution by the Masonite shareholders entitled to vote thereon and represented in person or by proxy at the special meeting (b) the issuance of interim and final orders by the Supreme Court of British Columbia approving the arrangement, (c) the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the receipt of certain required regulatory clearances and approvals in other jurisdictions under applicable antitrust and foreign direct investment laws and regulations, including in Canada, Mexico and the United Kingdom. The transaction is expected to close mid-2024.
Benjamin M. Roth, Elina Tetelbaum of Wachtell, Lipton, Rosen & Katz acted as legal advisor to Masonite International. James Dougherty, Cheryl Chan, Jennifer S. Conway, Vanessa L. Jackson, Marcel Fausten, William A. Curran, Ronan P. Harty, Pritesh P. Shah and David A. Zilberberg of Davis Polk & Wardwell LLP acted as legal advisor to Owens Corning. Morgan Stanley & Co. LLC and Lazard Freres & Co. LLC acted as financial advisor to Owens Corning. Goldman Sachs & Co. LLC and Jefferies LLC acted as fairness and financial advisor to Masonite International. Stikeman Elliott acted as legal advisor to Owens Corning. Cassels Brock & Blackwell acted as legal advisor to Masonite. Declared Dividend • Feb 05
Third quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 1st March 2024 Payment date: 4th April 2024 Dividend yield will be 1.5%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 5.8% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 02
Owens Corning Declares First-Quarter 2024 Dividend, Payable on April 4, 2024 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.60 per common share. The dividend will be payable on April 4, 2024, to shareholders of record as of March 4, 2024. Announcement • Jan 25
Owens Corning to Report Q4, 2023 Results on Feb 14, 2024 Owens Corning announced that they will report Q4, 2023 results Pre-Market on Feb 14, 2024 Upcoming Dividend • Dec 29
Upcoming dividend of US$0.60 per share at 1.6% yield Eligible shareholders must have bought the stock before 05 January 2024. Payment date: 19 January 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.8%). Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to €138, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Building industry in Europe. Total returns to shareholders of 128% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €254 per share. Board Change • Dec 18
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Independent Director Paul Martin was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 08
Owens Corning Declares Fourth-Quarter Cash Dividend, Payable on January 19, 2024 Owens Corning announced that its Board of Directors has declared a fourth-quarter cash dividend of $0.60 per common share, a 15% increase compared to the prior quarterly dividend. The dividend will be payable on January 19, 2024, to shareholders of record as of January 8, 2024. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €104, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Building industry in Europe. Total returns to shareholders of 83% over the past three years. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$3.74 (vs US$4.88 in 3Q 2022) Third quarter 2023 results: EPS: US$3.74 (down from US$4.88 in 3Q 2022). Revenue: US$2.48b (down 2.0% from 3Q 2022). Net income: US$337.0m (down 28% from 3Q 2022). Profit margin: 14% (down from 19% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 06
Upcoming dividend of US$0.52 per share at 1.6% yield Eligible shareholders must have bought the stock before 13 October 2023. Payment date: 03 November 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.8%). Announcement • Oct 05
Owens Corning to Report Q3, 2023 Results on Oct 25, 2023 Owens Corning announced that they will report Q3, 2023 results Pre-Market on Oct 25, 2023 Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Independent Director Paul Martin was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 15
Owens Corning Declares Cash Dividend for the Third Quarter of 2023, Payable on November 3, 2023 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.52 per common share. The dividend will be payable on November 3, 2023, to shareholders of record as of October 16, 2023. New Risk • Aug 26
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €841k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (€841k sold). Recent Insider Transactions • Aug 26
President of Insulation recently sold €675k worth of stock On the 23rd of August, Todd Fister sold around 5k shares on-market at roughly €126 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.1m more than they bought in the last 12 months. Announcement • Aug 10
Owens Corning Announces Retirement of Daniel T. Smith as Executive Vice President and Chief Growth Officer, Effective February 15, 2024 On August 2, 2023, Daniel T. Smith, Executive Vice President and Chief Growth Officer, notified Owens Corning that he intends to retire. To help ensure a smooth transition of his responsibilities, the Company and Mr. Smith entered into a Retirement Transition Agreement on August 4, 2023. Pursuant to the terms of the Transition Agreement, Mr. Smith will transition from full-time Executive Vice President and Chief Growth Officer to part-time Executive Consultant, effective September 1, 2023 (the “Transition Date”), and will fully retire on February 15, 2024, at which time his employment with the Company will terminate (the “Retirement Date”). As of the Transition Date, Mr. Smith will no longer serve as an executive officer of the Company. Upon the Transition Date and until the Retirement Date (the “Transition Period”), Mr. Smith will serve as an employee of the Company providing transition advice and consultation service to the leaders of his existing teams and to the Company’s Chief Executive Officer. During the Transition Period, Mr. Smith’s base salary will be reduced by 80% to an annualized salary of $124,000 per year, and his 2023 annual incentive rate will be 75% of the new base salary. Mr. Smith will not participate in an annual incentive award for 2024. Consistent with the terms of the Company’s Phased Retirement Program that is available for employees at all levels of the Company, Mr. Smith will have continued access to Company benefits until his Retirement Date. The Transition Agreement contains a customary release of claims in favor of the Company. Announcement • Jul 27
Owens Corning Provides Earnings Guidance for Third-Quarter 2023 Owens Corning provided earnings guidance For third-quarter 2023. The company expects overall performance to result in net sales similar to the comparable quarter in the prior year, while generating high-teen EBIT margins. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: US$3.81 (vs US$3.51 in 2Q 2022) Second quarter 2023 results: EPS: US$3.81 (up from US$3.51 in 2Q 2022). Revenue: US$2.56b (down 1.5% from 2Q 2022). Net income: US$345.0m (flat on 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 4.8% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of US$0.52 per share at 1.6% yield Eligible shareholders must have bought the stock before 14 July 2023. Payment date: 04 August 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.7%). Announcement • Jul 06
Owens Corning to Report Q2, 2023 Results on Jul 26, 2023 Owens Corning announced that they will report Q2, 2023 results Pre-Market on Jul 26, 2023 New Risk • Jul 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 16% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risks High level of debt (43% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jun 16
Owens Corning Declares Cash Dividend for the Second Quarter of 2023, Payable on August 4, 2023 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.52 per common share. The dividend will be payable on August 4, 2023, to shareholders of record as of July 17, 2023. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €103, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Building industry in Europe. Total returns to shareholders of 110% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €190 per share. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: US$4.20 (vs US$3.06 in 1Q 2022) First quarter 2023 results: EPS: US$4.20 (up from US$3.06 in 1Q 2022). Revenue: US$2.33b (flat on 1Q 2022). Net income: US$383.0m (up 26% from 1Q 2022). Profit margin: 16% (up from 13% in 1Q 2022). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 23
Upcoming dividend of US$0.52 per share at 2.1% yield Eligible shareholders must have bought the stock before 02 March 2023. Payment date: 06 April 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.1%). Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: US$12.85 (vs US$9.61 in FY 2021) Full year 2022 results: EPS: US$12.85 (up from US$9.61 in FY 2021). Revenue: US$9.76b (up 15% from FY 2021). Net income: US$1.24b (up 25% from FY 2021). Profit margin: 13% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Building industry in Europe are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €96.50, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Building industry in Europe. Total returns to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €137 per share. Announcement • Feb 03
Owens Corning Declares Cash Dividend for the First-Quarter of 2023, Payable on April 6, 2023 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.52 per common share. The dividend will be payable on April 6, 2023, to shareholders of record as of March 3, 2023. Announcement • Jan 26
Owens Corning to Report Q4, 2022 Results on Feb 15, 2023 Owens Corning announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 15, 2023 Announcement • Dec 07
JSC NPK Khimprominginiring completed the acquisition of Russian operations of OWENS. JSC NPK Khimprominginiring entered into an agreement to acquire Russian operations of OWENS on September 13, 2022. Net sales in Russia were approximately $100 million in 2021.The transaction is subject to regulatory approvals.
JSC NPK Khimprominginiring completed the acquisition of Russian operations of OWENS on December 5, 2022. The transaction includes two manufacturing operations, A composites manufacturing plant in Gus-Khrustalny and an insulation manufacturing plant in Tver/Izoplit. Announcement • Dec 03
Owens Corning Declares Quarterly Dividend, Payable on January 19, 2023 Owens Corning declared a quarterly cash dividend of $0.52 per common share, an approximately 50% increase compared with the prior quarterly dividend. The dividend will be payable on January 19, 2023, to shareholders of record as of January 4, 2023. Announcement • Oct 06
Owens Corning to Report Q3, 2022 Results on Oct 26, 2022 Owens Corning announced that they will report Q3, 2022 results Pre-Market on Oct 26, 2022 Announcement • Sep 16
Owens Corning Declares Third Quarter 2022 Dividend, Payable on November 3, 2022 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.35 per common share. The dividend will be payable on November 3, 2022, to shareholders of record as of October 17, 2022. Recent Insider Transactions • Aug 04
Insider recently sold €175k worth of stock On the 29th of July, Kelly Schmidt sold around 2k shares on-market at roughly €90.13 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.0m more than they bought in the last 12 months. Announcement • Aug 02
Owens Corning (NYSE:OC) completed the acquisition of Natural Polymers, LLC. Owens Corning (NYSE:OC) signed an agreement to acquire Natural Polymers, Llc on June 15, 2022. Upon close, Benjamin Brown will join Owens Corning in an innovation leadership role. The transaction is subject to regulatory approvals and other customary conditions and is anticipated to close in the third quarter. Peter Izanec of Jones Day acted as legal advisor to Owens Corning in the transaction.
Owens Corning (NYSE:OC) completed the acquisition of Natural Polymers, LLC on June 15, 2022. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$3.51 (vs US$2.85 in 2Q 2021) Second quarter 2022 results: EPS: US$3.51 (up from US$2.85 in 2Q 2021). Revenue: US$2.60b (up 16% from 2Q 2021). Net income: US$343.0m (up 15% from 2Q 2021). Profit margin: 13% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 4.0%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
An unknown buyer acquired European dry-use chopped strand (DUCS) manufacturing assets from Owens Corning (NYSE:OC). An unknown buyer acquired European dry-use chopped strand (DUCS) manufacturing assets from Owens Corning (NYSE:OC) on July 1, 2022. This transaction will result in a divestiture of approximately $100 million of annual sales.
An unknown buyer completed the acquisition of European dry-use chopped strand (DUCS) manufacturing assets from Owens Corning (NYSE:OC) on July 1, 2022. Upcoming Dividend • Jul 08
Upcoming dividend of US$0.35 per share Eligible shareholders must have bought the stock before 15 July 2022. Payment date: 04 August 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (2.4%). Announcement • Jul 07
Owens Corning to Report Q2, 2022 Results on Jul 27, 2022 Owens Corning announced that they will report Q2, 2022 results Pre-Market on Jul 27, 2022 Announcement • Jun 23
Owens Corning (NYSE:OC) signed an agreement to acquire Natural Polymers, Llc. Owens Corning (NYSE:OC) signed an agreement to acquire Natural Polymers, Llc on June 21, 2022. Upon close, Benjamin Brown will join Owens Corning in an innovation leadership role. The transaction is subject to regulatory approvals and other customary conditions and is anticipated to close in the third quarter. Peter Izanec of Jones Day acted as legal advisor to Owens Corning in the transaction. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €72.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Building industry in Europe. Total returns to shareholders of 73% over the past three years. Announcement • Jun 17
Owens Corning Declares Dividend for the Second Quarter of 2022 , Payable on August 4, 2022 Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.35 per common share. The dividend will be payable on August 4, 2022, to shareholders of record as of July 18, 2022. Announcement • Jun 03
Owens Corning (NYSE:OC) acquired WearDeck from JR Plastics Corporation. Owens Corning (NYSE:OC) signed an agreement to acquire WearDeck from JR Plastics Corporation on April 25, 2022. The transaction is subject to regulatory approvals and other customary conditions, and is anticipated to close by the end of the second quarter. PETER E. IZANEC of Jones Day and Calfee, Halter & Griswold are acting as the company’s legal advisors. Hogan Lovells, Klein and Klein, and Eversheds Sutherland are representing JR Plastics Corporation as its legal advisors.
Owens Corning (NYSE:OC) completed the acquisition of WearDeck from JR Plastics Corporation on June 1, 2022. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: US$3.06 (vs US$1.99 in 1Q 2021) First quarter 2022 results: EPS: US$3.06 (up from US$1.99 in 1Q 2021). Revenue: US$2.35b (up 23% from 1Q 2021). Net income: US$304.0m (up 45% from 1Q 2021). Profit margin: 13% (up from 11% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.7%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. 
