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Owens Corning [OC] reports $286 million quarterly net profit

Owens Corning [OC] reports $286 million quarterly net profit

Company generates $2.8 billion in revenue

By USinMinutes
Published - Aug 06, 2024, 09:14 AM ET
Last Updated - Aug 16, 2024, 10:38 AM EDT

Owens Corning Owens Corning [OC] has reported $286 million quarterly profit, an decrease of $51 million from the previous quarter, the company said in a filing to the SEC for the Q2 ended Jun 30, 2024.

Owens Corning reported the quarterly diluted earnings per share (EPS) fell by -12.67 percent to $3.2 from $3.7 in the previous quarter.

Dollars in millions
Jun 30, 2024    Dec 31, 2023    Sep 30, 2023    Jun 30, 2023   

Income Statement

Revenue $2,789.0  $9,677.0  $2,479.0  $2,563.0 
Operating Profit $457.0  $1,812.0  $462.0  $487.0 
Net Income $286.0  $1,193.0  $337.0  $344.0 
Net Cash -$1,349.0  $516.0  $0.0  -$130.0 
Gross Margin $867.0  $2,683.0  $727.0  $752.0 
Operating Margin $0.0  $0.0  $0.0  $0.0 
Profit as % of Revenues303.15 27.73 29.33 29.34 
Profit as % of Assets3.22 10.85 3.09 3.16 
Profit as % of Stockholder Equity5.18 23.01 6.58 6.83 
Return on Equity5.18 23.01 6.58 6.83 
Return on Assets1.91 10.62 3.04 3.13 
Turnover Ratio31.37 0.88 0.23 0.24 

Balance Sheet

Total Assets $14,991.0  $11,237.0  $11,069.0  $11,001.0 
Total Liabilities $9,466.0  $6,027.0  $5,919.0  $5,942.0 

Cash Flow Statement

Operating Cash Flow $517.0  $1,719.0  $0.0  $330.0 
Investing Cash Flow -$3,154.0  -$356.0  $0.0  -$102.0 
Financing Cash Flow $1,321.0  -$877.0  $0.0  -$385.0 
 
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