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TOLEDO, Ohio -On Monday, Owens Corning (NYSE:OC) reported fourth-quarter earnings and revenue that surpassed analyst expectations.
The company’s shares were up 1.54% in early trading.
The building materials manufacturer posted adjusted earnings per share of $3.22, beating the consensus estimate of $2.90. Revenue came in at $2.84 billion, topping expectations of $2.78 billion.
For the fourth quarter, Owens Corning delivered sales growth of 23% YoY to $2.8 billion. The company achieved adjusted EBIT margin of 15% and adjusted EBITDA margin of 22%.
"2024 was a transformative year for Owens Corning as we successfully executed three major strategic moves to reshape and focus the company on building products in North America and Europe, while consistently delivering higher, more resilient earnings and cash flow," said Chair and CEO Brian Chambers.
Looking ahead, Owens Corning expects first-quarter 2025 revenue from continuing operations to grow mid-20% compared to the prior year’s $2.0 billion, adjusted for moving glass reinforcements to discontinued operations. The company anticipates generating EBITDA margin from continuing operations in the low-20% range.
For the full year 2024, Owens Corning reported net sales of $11.0 billion, up 13% from 2023. The company generated adjusted EBIT margin of 19% and adjusted EBITDA margin of 25%.
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