Owens Corning Q4 Earnings: Sales Jump 23%, EPS Beats Estimates, Forecasts Mid 20% Revenue Growth For Q1

Owens Corning Inc. OC reported a 23% year-over-year growth in fourth-quarter net sales to $2.84 billion, beating the consensus of $2.77 billion.

Sales by segments: Composites $515 million (nearly flat Y/Y), Insulation $926 million (-1% Y/Y), and Roofing $912 million (-2% Y/Y). Doors reported net sales of $564 million in the fourth quarter of 2024.

Adjusted EBIT increased to $430 million from $392 million, with a 15% margin (vs. 17% prior-year quarter). Adjusted EBITDA rose 21% Y/Y to $629 million, and the margin remained flat Y/Y at 22%.

Adjusted EPS was $3.22, up from $3.21 a year ago, above the consensus of $2.90.

Operating cash flow totaled $676 million, down from $698 million, and free cash flow stood at $479 million (-15% Y/Y).

In 2024, the company returned $638 million to shareholders through dividends and share repurchases. In particular, the company repurchased 2.6 million shares of common stock for $430 million.

At the end of the year, the company had 6.4 million shares available for repurchase under the current authorization.

Chair and Chief Executive Officer Brian Chambers said, “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.”

“Through our unique enterprise capabilities, market-leading positions, and consistent execution, we have delivered on the three-year commitments set at our last Investor Day in 2021.”

”As a new Owens Corning, we look forward to sharing more about our strategy and financial goals for the future at our next Investor Day in May.”

Read: Owens Corning Accelerates Roofing Growth With New Southeast Shingle Plant

Outlook: For the first quarter, the company expects strong performance, driven by structural changes and improved cost efficiency, despite a mixed market environment.

In particular, Owens Corning sees a mid-20% growth in revenue from continuing operations, compared to last year’s $2.0 billion, adjusted for the transfer of glass reinforcements to discontinued operations. The company also forecasts an EBITDA margin from continuing operations in the low-20% range.

For 2025, Owens Corning currently expects general corporate expenses of around $240 million-$260 million and capital additions of ~$800 million.

Investors can gain exposure to the stock via VanEck Low Carbon Energy ETFSMOG and SmartETFs Sustainable Energy II ETF SOLR.

Price Action: OC shares are down 0.28% at $165.00 premarket at the last check Monday.

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