secwatch.observer — SEC 8-K summary
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Issuer:     Owens Corning (OC)
CIK:        0001370946
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001370946-24-000127
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Owens Corning Q1 adjusted EBIT up 21% to $438M; adjusted EPS $3.59 beats prior year
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- Net sales $2.3B (-1% YoY); net earnings $299M (-22%) due to prior-year $189M gain on site sale.
- Adjusted diluted EPS $3.59 vs. $2.80 (+28%); adjusted EBITDA margin 25% vs. 21%.
- Roofing net sales +7% to $957M; EBIT $286M (30% margin). Composites sales -11% to $523M.
- Returned $182M to shareholders: $52M dividends + $130M share repurchases (0.9M shares).
- Masonite acquisition on track for mid-2024; strategic review of glass reinforcements ongoing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1370946/000137094624000127/0001370946-24-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1370946/000137094624000127/oc-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001370946-24-000127

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