Owens Corning Q2 2023: EPS $3.78, adjusted EPS $4.22; adjusted EBIT margin 21%

Owens Corning

2023-Q2 EPS reported $7.94 revenue$4,894,000,000

Net sales $2.6B flat YoY; net earnings $345M (+1%); diluted EPS $3.78 vs $3.49.
Adjusted EBIT $534M (21% margin) vs $525M (20%); adjusted EBITDA $664M (26% margin).
Roofing segment sales +10% to $1.1B, EBIT +$80M to $338M; Composites sales -14% to $620M, EBIT -$67M.
Operating cash flow $494M, free cash flow $372M; returned $160M via dividends and buybacks.
Q3 outlook: net sales similar to prior year, high-teen EBIT margins; general corporate expense guidance $215-225M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Owens Corning reported second-quarter 2023 results: revenue $2.6 Billion, net income $345 Million, EPS $3.78.

Period: second-quarter 2023
Revenue: $2.6 Billion
Net income: $345 Million
EPS: $3.78
Result: reported results

Exact text from the filing

Owens Corning Delivers Net Sales of $2.6 Billion; Generates Net Earnings of $345 Million and Adjusted EBIT of $534 Million

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Source: SEC EDGAR

accession 0001370946-23-000031

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