Owens Corning reported a 12% year-over-year increase in fourth-quarter revenue, reaching $1.43 billion, driven by robust demand in residential and commercial construction segments. The company also announced a share repurchase program worth up to $500 million.
- Q4 revenue: $1.43 billion, up 12% YoY
- Adjusted EPS: $2.37, exceeding estimates by 7%
- Energy-efficient insulation sales grew 18% YoY
- Asia-Pacific revenue increased 22% due to infrastructure projects
- New $500 million share repurchase program announced
- Dividend increased by 10%, now $0.65 per share
Owens Corning delivered a solid financial performance in its fourth quarter, posting revenue of $1.43 billion, a 12% increase compared to the same period in the prior year. This growth was primarily fueled by heightened demand in North American residential remodeling and new construction markets, where the company's insulation and roofing product lines saw double-digit volume gains. Adjusted earnings per share rose to $2.37, surpassing analyst expectations by 7%, reflecting improved operational efficiency and favorable pricing dynamics. The company's strategic focus on sustainability and innovation contributed to its performance, with sales of its energy-efficient insulation products growing by 18% year-over-year. Owens Corning also expanded its presence in high-growth markets, including Asia-Pacific, where revenue from that region increased by 22% due to infrastructure projects and rising building standards. The company maintained a strong balance sheet, ending the quarter with $420 million in cash and a net debt-to-EBITDA ratio of 2.1x. In a move to return capital to shareholders, Owens Corning announced a new share repurchase program, authorizing up to $500 million in buybacks over the next two years. The company also increased its quarterly dividend by 10%, now paying $0.65 per share. These actions underscore management's confidence in long-term cash flow generation and the stability of its core business segments. The results have drawn positive reactions from investors, with Owens Corning's stock rising 4.3% in after-hours trading. Analysts highlight the company's diversified product portfolio and disciplined capital allocation as key strengths in a macro environment marked by fluctuating interest rates and material cost volatility.