04.30.24
Owens Corning reported net sales of $2.3 billion in the first quarter of 2024, in-line with the prior year.
In Insulation, net sales decreased 2% to $904 million compared with first quarter 2023, as demand in the segment’s North American business remained relatively stable while its European business was impacted by the weaker macro environment. Favorable mix and positive price were more than offset by lower volumes, primarily in Europe.
In Composites, net sales decreased 11% to $523 million compared with first-quarter 2023, as positive price for nonwovens was offset by lower volumes and price declines in glass reinforcements on broader market pressure.
“Owens Corning started the year with first-quarter results that continue to highlight our strong and consistent enterprise performance. These results are driven by the strength of our team and the actions we have taken over the last several years to generate higher, more resilient earnings,” says chair and CEO Brian Chambers. “We remain focused on helping our customers win in the market and delivering value to our shareholders in the near-term, while looking ahead to opportunities that grow our company and strengthen our leadership in building and construction materials.”
In Insulation, net sales decreased 2% to $904 million compared with first quarter 2023, as demand in the segment’s North American business remained relatively stable while its European business was impacted by the weaker macro environment. Favorable mix and positive price were more than offset by lower volumes, primarily in Europe.
In Composites, net sales decreased 11% to $523 million compared with first-quarter 2023, as positive price for nonwovens was offset by lower volumes and price declines in glass reinforcements on broader market pressure.
“Owens Corning started the year with first-quarter results that continue to highlight our strong and consistent enterprise performance. These results are driven by the strength of our team and the actions we have taken over the last several years to generate higher, more resilient earnings,” says chair and CEO Brian Chambers. “We remain focused on helping our customers win in the market and delivering value to our shareholders in the near-term, while looking ahead to opportunities that grow our company and strengthen our leadership in building and construction materials.”