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Owens Corning Posts Record Net Sales

Sales up 16% to $2.6 billion

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Owens Corning, a global building and construction materials manufacturer, reported second-quarter 2022 results. Reported record net sales of $2.6 billion, a 16% increase.

Composites net sales increased 23% to $719 million in second-quarter 2022 compared with second-quarter 2021, primarily due to higher selling prices and the favorable impact of customer mix. Insulation net sales increased 16% to $934 million in second-quarter 2022 compared with second-quarter 2021, as a result of higher selling prices and the impact of favorable customer mix, partially offset by the negative impact of foreign currency. Roofing net sales increased 11% to $1 billion in second-quarter 2022 compared with second-quarter 2021, with higher selling prices partially offset by lower sales volumes.

“Owens Corning delivered another outstanding quarter while advancing our enterprise strategy which accelerates our growth, strengthens our earnings power, and creates additional value for our shareholders. Our global teams continue to execute at a high level as we make strategic investments to expand our total addressable markets and enhance our market-leading positions,” says chair and chief executive officer Brian Chambers. “For the second half of the year, we remain focused on delivering strong financial results and positioning the company for long-term success.”

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