OWENS CORNING Reports Financials for Q2 2023
July 29, 2023
🌥️Earnings Overview
OWENS CORNING ($NYSE:OC) released their financial report for the second quarter of fiscal year 2023 on June 30th 2023. The total revenue for the quarter was USD 2563.0 million, a slight decrease of 1.5% compared to the same period in the previous year. Net income for the quarter was USD 345.0 million, representing a 0.6% growth year over year.
Stock Price
On Wednesday, OWENS CORNING reported its financials for Q2 2023, and the stock opened at $132.8 and closed at $138.5, representing a 5.9% increase from the prior closing price of 130.8. Overall, the results for the quarter were impressive, despite challenging market conditions. OWENS CORNING’s products are well positioned in the market and the company is continuing to make investments in its operations. These results demonstrate that the company is well positioned for continued growth in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Owens Corning. More…
| Total Revenues | Net Income | Net Margin |
| 9.71k | 1.32k | 12.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Owens Corning. More…
| Operations | Investing | Financing |
| 1.47k | -385 | -930 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Owens Corning. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11k | 5.94k | 55.84 |
Key Ratios Snapshot
Some of the financial key ratios for Owens Corning are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.6% | 29.5% | 18.7% |
| FCF Margin | ROE | ROA |
| 9.8% | 23.1% | 10.3% |
Analysis
At GoodWhale, we have conducted an analysis of the fundamentals of OWENS CORNING to help investors understand the risk associated with investing in the company. Based on our Risk Rating, OWENS CORNING is a low risk investment in terms of financial and business aspects. However, we have detected two risk warnings in the company’s income sheet and balance sheet. Therefore, we recommend investors to register on goodwhale.com to get more comprehensive information about the company’s risks and potential returns. Our platform can provide investors with insightful analysis of financial indicators, such as profitability, liquidity, and asset management, along with other qualitative factors like business strategy and competitive landscape. We believe that by staying informed on the company’s fundamentals, investors can make more informed decisions and maximize returns on their investments. More…
Peers
Owens-Corning Inc is an international building materials and fiberglass insulation company that has been in business since 1938. It is one of the leading competitors in the building material industry, alongside Apogee Enterprises Inc, Viglacera Corp, and CSR Ltd. All of these companies produce a variety of products such as windows, doors, roofing products and insulation, and offer services such as installation and maintenance.
– Apogee Enterprises Inc ($NASDAQ:APOG)
Apogee Enterprises Inc is a leading provider of value-added glass and metal products serving the architectural and picture framing industries. As of 2022, the company has a market cap of 1.04B and a Return on Equity of 12.55%. Apogee’s market cap reflects its strong business fundamentals, as well as its presence in the architecture and picture framing industries. The company’s return on equity highlights its ability to generate returns from the shareholders’ investments, demonstrating its financial stability and efficiency.
– Viglacera Corp ($HOSE:VGC)
CSR Ltd is a leading international provider of technology, services and solutions for building and infrastructure products. The company has a market cap of 2.38B as of 2022, reflecting its strong financial stability and performance. CSR also has an impressive return on equity of 18.03%, which indicates that the company is efficiently able to utilize its shareholders’ investments to generate revenue. CSR is committed to developing innovative solutions to meet the needs of the global construction industry, while also improving the efficiency and sustainability of its operations.
Summary
OWENS CORNING has recently released their financial report for the second quarter of their fiscal year 2023, showing total revenue of USD 2563.0 million and a net income of USD 345.0 million. This is a 1.5% decrease in revenue from the same period last year, but a 0.6% increase in net income. The stock price responded positively to these results, indicating that investors are pleased with the company’s performance. As such, OWENS CORNING remains a stable investment option and is likely to continue to perform well in the future.
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