Owens Corning (NYSE:OC) Files An 8-K Results of Operations and Financial Condition
Item 2.02
Results of Operations and Financial Condition
On February 20, 2019, Owens Corning (the “Company”) issued a press release announcing its financial results for the fourth quarter of 2018 and the fiscal year ended December 31, 2018.
Exhibit 99.1 contains certain financial measures that are considered “non-GAAP financial measures” as defined in the federal securities laws and contains a reconciliation of these non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States.
The information in Item 2.02 of this Current Report is being furnished to General Instructions B.2 of Form 8-K and shall not be deemed “filed” for the purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 2.02 of this Current Report shall not be incorporated by reference into any registration statement or other document to the Securities Act of 1933.
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Item 2.02 |
Financial Statements and Exhibits |
(d) Exhibits.
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Exhibit No. |
Description |
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99.1 |
Press Release, dated February 20, 2019
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Owens Corning Exhibit
EX-99.1 2 a2018-12x31pressrelease.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 Owens Corning Reports Fourth-Quarter and Full-Year 2018 ResultsCompany Delivered Record Revenue of $7.1 Billion in 2018;Generated Net Earnings of $545 Million and Record Adjusted EBIT of $861 Million•Strong portfolio delivered double-digit EBIT margins in all three segments•Insulation increased EBIT by 64% to $290 million on revenue growth of 36% •Roofing produced EBIT of $434 million on revenue of $2.5 billion •Composites generated $251 million in EBIT and 12% EBIT marginsTOLEDO,…
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About Owens Corning (NYSE:OC)
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications. The Company operates in three segments, namely, Composites, Insulation and Roofing. Its Composites segment consists of its Reinforcements and Downstream businesses. The Company’s Insulation products include thermal and acoustical batts, loosefill insulation, foam sheathing and accessories, and are sold under various brand names, such as Owens Corning PINK FIBERGLAS Insulation. The Company’s primary products in the Roofing segment are laminate and strip asphalt roofing shingles. It sells shingles and roofing accessories primarily through home centers, lumberyards, retailers, distributors and contractors in the United States.