Owens Corning Q4 2022 Earnings Report
Key Takeaways
Owens Corning reported a net sales increase of 7% and net earnings attributable to Owens Corning of $124 million. The company's adjusted EBIT was $333 million and adjusted EBITDA was $460 million. Diluted EPS was $1.32 and adjusted diluted EPS was $2.49. Operating cash flow was $675 million and free cash flow was $535 million.
Net sales increased by 7% compared to the prior year.
Net earnings attributable to Owens Corning decreased by 45%.
Adjusted EBIT increased by 2% year-over-year.
Free cash flow was $535 million, up from $162 million in the prior year.
Owens Corning
Owens Corning
Owens Corning Revenue by Segment
Forward Guidance
The company expects many of its end markets to be more challenging as the impacts of ongoing inflation, higher interest rates, and continued geopolitical uncertainties result in a decelerating global economic environment. For first-quarter 2023, the company expects overall performance to result in a moderate decline of net sales, versus the comparable quarter in the prior year, with EBIT margins of low to mid-teens.
Challenges Ahead
- Ongoing inflation
- Higher interest rates
- Continued geopolitical uncertainties
- Decelerating global economic environment
- Moderate decline of net sales
Revenue & Expenses
Visualization of income flow from segment revenue to net income