Owens Corning Q3 2023: Net sales $2.5B flat YoY; adjusted EPS up 15% to $4.15

Owens Corning

2023-Q3 EPS reported $11.64 revenue$7,373,000,000

Net earnings $337M ($3.71 diluted EPS) down 28% YoY; adjusted diluted EPS $4.15 up 15%.
Roofing segment net sales +8% to $1.1B, EBIT $343M; Insulation -5% to $913M, Composites -11% to $567M.
Operating cash flow $691M, free cash flow $581M; returned $187M to shareholders via dividends and buybacks.
Q4 2023 outlook: net sales slightly below Q4 2022; mid-teen EBIT margins expected.
Updated FY 2023 guidance: capex ~$520M; D&A $510–$520M; effective tax rate 24–26%.

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 third-quarter 2023 results: revenue $2,479, net income $337, EPS $3.71. Guidance reaffirmed.

Period: third-quarter 2023
Revenue: $2,479
Net income: $337
EPS: $3.71
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the company for long-term success.” Enterprise Performance ($ in millions, except per share amounts) Third-Quarter Nine Months 2023 2022 Change 2023 2022 Change Net Sales $2,479 $2,529 $(50) (2%) $7,373 $7,476 $(103) (1%) Net Earnings Attributable to OC 337 470 (133) (28%) 1,065 1,117 (52) (5%) Adjusted EBIT 518 487 31 6% 1,413 1,429 (16) (1%) As a

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Source: SEC EDGAR

accession 0001370946-23-000047

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