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Sep 30, 2021
Owens Corning Q3 2021 Earnings Report
Owens Corning reported a record third quarter, driven by exceptional execution and strategic choices to enhance earnings power.
Key Takeaways
Owens Corning reported consolidated net sales of $2.2 billion, a 16% increase compared to Q3 2020. Net earnings attributable to Owens Corning were $260 million, or $2.50 per diluted share. Adjusted EBIT was $400 million, compared to $289 million in the same period in 2020.
Delivered net sales of $2.2 billion.
Net earnings of $260 million and adjusted EBIT of $400 million.
Adjusted EBIT margins of 18%, with all three businesses posting double digit EBIT margins for a fifth consecutive quarter.
Generated operating cash flow of $466 million and free cash flow of $400 million.
Owens Corning
Owens Corning
Owens Corning Revenue by Segment
Revenue by Segment
Roofing Revenue
CapyFin.comInsulation Revenue
CapyFin.com Forward Guidance
The company expects the U.S. residential housing market and global commercial and industrial markets to remain strong. The company continues to closely monitor and manage inflation, supply chain disruptions, and the regional impacts of the COVID-19 pandemic on the business.
Positive Outlook
- U.S. residential housing market expected to remain strong.
- Global commercial and industrial markets expected to remain strong.
Challenges Ahead
- 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