Owens Corning reported robust financial results for the third quarter of 2024, achieving an adjusted EBIT margin of 19% and an adjusted EBITDA margin of 25%.
This performance marks the 17th consecutive quarter where the company has maintained mid-teens or better adjusted EBIT margins and 20% or better adjusted EBITDA margins, underscoring its resilient earnings profile despite challenging market conditions.
During the earnings call, CEO Brian Chambers attributed this sustained profitability to strategic initiatives aimed at strengthening market-leading positions, improving operating efficiencies, and increasing the company’s earnings power. He also highlighted progress on key projects, including the commissioning of a new glass nonwovens line in Fort Smith, Arkansas, which is expected to enhance production capacity and support future growth.
CFO Todd Fister emphasized the company’s strong cash-generating capability, noting the production of $558 million in free cash flow during the quarter. This financial strength enabled Owens Corning to return $252 million to shareholders through dividends and share repurchases, reflecting a disciplined capital allocation approach focused on delivering value to shareholders.
