Owens Corning Q3 2023 Earnings Report
Key Takeaways
Owens Corning reported net sales of $2.5 billion, with net earnings of $337 million and adjusted EBIT of $518 million. The company grew adjusted EBIT margins to 21% and adjusted EBITDA margins to 26%. They generated operating cash flow of $691 million and free cash flow of $581 million.
Net sales were $2.5 billion, similar to the prior year.
Adjusted EBIT margins grew to 21% and adjusted EBITDA margins to 26%.
Diluted EPS was $3.71, and adjusted diluted EPS was $4.15.
Operating cash flow was $691 million, and free cash flow was $581 million.
Owens Corning
Owens Corning
Owens Corning Revenue by Segment
Forward Guidance
The company expects overall performance to result in net sales slightly below the fourth quarter of 2022, while generating mid-teen EBIT margins.
Positive Outlook
- Building and construction end markets are expected to be relatively stable in the near term.
Challenges Ahead
- Weaker macroeconomic trends outside of the U.S.
- Increasing interest rates continue to result in slower global economic growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income