Nov. 2, 2022
Owens Corning Delivers Net Sales Increase
Owens Corning had net sales of $2.5 billion for the third quarter of 2022, an increase of 14 per cent compared to net sales of $2.2 billion in the third quarter of 2021. Composites segment net sales increased eight per cent year over year to $638 million, primarily due to higher selling prices and the favourable impact of customer mix. Insulation segment net sales increased 18 per cent to $965 million and roofing segment net sales increased 15 per cent to $1 billion. Overall adjusted earnings before taxes and interest (EBIT) were $487 million for the quarter, an increase of 22 per cent over EBIT of $400 million in the year-ago quarter.