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Mar 31, 2022
Owens Corning Q1 2022 Earnings Report
Delivered record net sales and generated net earnings and adjusted EBIT.
Key Takeaways
Owens Corning reported a strong start to the year with record net sales of $2.3 billion, net earnings of $304 million, and adjusted EBIT of $417 million, driven by strong execution and strategic investments.
Reported Net Sales Increase of 23% to $2.3 Billion
Expanded Adjusted EBITDA Margins to 23% and Adjusted EBIT Margins to 18%
Delivered Diluted EPS of $3.03 and Adjusted Diluted EPS of $2.84
Generated Operating Cash Flow of $158 Million and Free Cash Flow of $51 Million
Owens Corning
Owens Corning
Owens Corning Revenue by Segment
Forward Guidance
The company expects overall performance to result in net sales and adjusted EBIT growth for the second quarter of 2022, versus the comparable quarter in the prior year.
Positive Outlook
- U.S. residential housing market remains strong.
- Global commercial and industrial markets to remain strong.
- Expects net sales growth for the quarter.
- Expects adjusted EBIT growth for the quarter.
Challenges Ahead
- Ongoing impacts of inflation.
- Supply chain disruptions.
- Regional impacts of the COVID-19 pandemic on the business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income