Owens Corning expands share repurchase program

TOLEDO, Ohio - Owens Corning (NYSE:OC), a prominent player in the building products industry currently trading near InvestingPro’s Fair Value estimate, has announced the approval of an additional share repurchase authorization for up to 12 million shares of its common stock. This decision, revealed on Wednesday, adds to the existing buyback plan, under which approximately 5.7 million shares are still available as of March 31, 2025. The company’s strong financial health, rated as GOOD by InvestingPro analysts, supports this strategic move.

The company’s Chair and Chief Executive Officer, Brian Chambers, expressed the move as a testament to Owens Corning’s ability to "consistently generate strong free cash flow" and a commitment to its strategy of returning value to shareholders. This is evidenced by the company’s impressive $1.24 billion in levered free cash flow and a solid 1.94% dividend yield, which has been maintained for 12 consecutive years.

This repurchase authorization allows the company to acquire shares through various methods, including open-market transactions, with the timing and volume contingent on market conditions and other influencing factors.

In conjunction with the announcement, Owens Corning is conducting its 2025 Investor Day today, a gathering that will feature discussions about the company’s long-term strategic vision, capabilities, and financial objectives extending to 2028. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 12 additional ProTips and detailed financial metrics that can help evaluate the company’s strategic direction. The event, which includes a live webcast and a question-and-answer session, will host company executives, including CEO Brian Chambers and CFO Todd Fister.

The live webcast and accompanying slide presentations are accessible online, with an archived replay and materials to be made available following the event’s conclusion.

Owens Corning, established in 1938 and headquartered in Toledo, Ohio, is a global enterprise with a workforce of over 25,000 across 31 countries. The company, which prides itself on offering sustainable and energy-efficient building solutions, reported sales of $11.0 billion in 2024, maintaining a healthy gross profit margin of 29.3% and demonstrating strong revenue growth of 22.7% in the last twelve months.

The company’s forward-looking statements regarding its financial and operational prospects are subject to various risks and uncertainties, and actual outcomes may differ from projections. These statements are based on information available as of today and may be revised in the future without further notice.

This news is based on a press release statement from Owens Corning.

In other recent news, Owens Corning reported its Q1 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $2.97 compared to a forecast of $2.91. The company also exceeded revenue projections, reporting $2.53 billion against the anticipated $2.51 billion. Despite these positive results, the stock experienced a decline in pre-market trading, reflecting broader market concerns. Jefferies analyst Philip Ng adjusted the price target for Owens Corning shares to $172 from $185, while maintaining a Buy rating, citing the current dynamics in the insulation market and the company’s strong roofing margins. Meanwhile, Evercore ISI reduced its price target to $160 from $185 but kept an In Line rating, acknowledging the company’s alignment with expected revenues and earnings outperformance. Owens Corning continues to face challenges in the North American residential insulation market, influenced by macroeconomic uncertainties and tariffs. The company is actively investing in strategic expansions and innovations to maintain its competitive position in high-value building products.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.