secwatch.observer — SEC 8-K summary
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Issuer:     Owens Corning (OC)
CIK:        0001370946
Form:       8-K
Filed at:   2022-04-27T23:59:59+00:00
Accession:  0001370946-22-000020
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Owens Corning Q1 net sales up 23% to record $2.3B; EPS $3.03, up 53% YoY
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- Net sales $2.346B (+23% YoY); diluted EPS $3.03 (+53%); adjusted EPS $2.84 (+59%).
- Adjusted EBIT $417M (+48% YoY); adjusted EBITDA margin 23%.
- Returned $264M to shareholders; repurchased 2.5M shares for $229M, paid $35M dividends.
- Agreed to acquire WearDeck (composite decking) for ~$60M revenue; expects close Q2 2022.
- Exiting Russia (approx $100M revenue, ~1% of sales); appointed David Rabuano as Chief Sustainability Officer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1370946/000137094622000020/0001370946-22-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1370946/000137094622000020/oc-20220427.htm
  HTML page:      https://secwatch.observer/filing/0001370946-22-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer