![]() ![]() EBIT increased $80 million to $338 million, expanding EBIT margins to 30% and EBITDA margins to 32%, primarily due to positive price realization and higher volumes. Roofing net sales increased 10% to $1.1 billion in second-quarter 2023 compared with second-quarter 2022, primarily due to higher volumes related to storm activity in the quarter and positive.Product mix, which more than offset lower volumes, input cost inflation, and higher manufacturing costs. EBIT increased $6 million to $163 million, expanding EBIT margins to 18% and EBITDA margins to 24%, on positive price realization and favorable customer and Insulation net sales decreased 3% to $905 million in second-quarter 2023 compared with second-quarter 2022, primarily due to lower volumes partially offset by positive price realization andįavorable product and customer mix.Positive price realization and favorable delivery Additionally, the net impact from the divestitures and acquisitions contributed to the year-over-year EBIT decline. EBIT decreased $67 million to $87 million while maintaining 14% EBIT margins and 21% EBITDA margins, on the impact of lower sales volumes and the Previously announced divestitures and acquisitions. Composites net sales decreased 14% to $620 million in second-quarter 2023 compared with second-quarter 2022, primarily due to lower volumes and the expected net headwind from the impact of.Overall performance in six key areas of diversity and inclusion management: leadership accountability, talent programs, workforce practices, supplier diversity, philanthropy, and human capital Participation in the Top 50 survey measures In May, Owens Corning was recognized for its workplace fairness and inclusion practices and policy by DiversityInc as one of its Top 50 companies.Investment-grade balance sheet and returning approximately 50% of free cash flow to shareholders over time," said Executive Vice President and Chief Financial Officer Ken Parks. “Our strong and consistent cash generation combined with our solid financial position provide us the flexibility to execute on our enterprise strategy, while remaining committed to maintaining our ![]() As of the end of the quarter, 11.8 million shares were available for repurchase under the current authorization. The company paid a quarterly cash dividend of $47 million and repurchasedġ.1 million shares of common stock for $113 million. During the second quarter, the company returned $160 million to shareholders through dividends and share repurchases.InĬombination with existing wind-driven virtual power purchase agreements (VPPAs) operating in Finland and Sweden, the new agreement means that 100 percent of the company’s European production sitesĪnd science and technology centers will be covered by contracts and VPPAs supplying renewable electricity. The company completed a major renewable electricity supply agreement, which is expected to come online in stages through 2024, contributing significantly to reducing carbon emissions. ![]()
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