owens corning (OC) Key Developments
Owens Corning to Unveil Five New Products in France
Mar 10 15
Owens Corning has announced that it will unveil five new products delivering productivity and performance benefits in Paris, France. The Owens Corning's new product offerings include: PulStrand 4100; OC Paneluxe; HydroStrand 258; Performax SE4850; and TeleStrand 2000. Multi-compatible PulStrand 4100 single-end roving for pultrusion delivers breakthrough processing and performance benefits over existing competitive products. Compatible with polyester, vinylester, epoxy, and polyurethane resin systems, PulStrand 4100 roving offers superior processing qualities,high flexural strength (up to 57% greater than competitive offerings), and ultimate shear strength (up to 70% higher than competitive products). This higher-productivity material has the potential to enable faster line speeds while reducing downtime, scrap, and labor, and enhances the modulus and durability of pultruded profiles for a variety of high-performance markets. OC Paneluxe multi-end roving enables continuous lamination of translucent and opaque panels.
Owens Corning Presents at Barclays Select Series: Building and Building Products Symposium, Feb-26-2015
Feb 23 15
Owens Corning Presents at Barclays Select Series: Building and Building Products Symposium, Feb-26-2015 . Venue: Barclays, 745 Seventh Avenue, New York, NY 10019, United States.
Owens Corning Declares Quarterly Dividend, Payable on April 2, 2015
Feb 11 15
Owens Corning declared a quarterly dividend of $0.17 per share, one cent more than the prior quarter. The dividend is payable on April 2, 2015 to shareholders of record as of March 13, 2015.
Owens Corning Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the Year 2015
Feb 11 15
Owens Corning reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the year, the company reported net sales of $5.3 billion in 2014, in line with net sales of $5.3 billion in 2013. Full-year 2014 adjusted earnings were $208 million, or $1.76 per diluted share, compared to adjusted earnings of $221 million, or $1.86 per diluted share, in 2013. Net earnings attributable to owners of the company were $226 million, or $1.91 per share, compared to net earnings of $204 million, or $1.71 per diluted share last year. The company reported earnings before interest and taxes of $392 million compared to $385 million, earnings before taxes of $232 million compared to $273 million, earnings before interest and taxes of $392 million compared to $385 million, adjusted EBIT of $412 million in 2014, compared with $416 million, net cash flow provided by operating activities of $441 million compared to $407 million and additions to plant and equipment of $363 million compared to $335 million for the last year.
For the quarter, adjusted earnings were $55 million, or $0.47 per diluted share, compared with $52 million, or $0.44 per diluted share, during the same period one year ago. The company reported net earnings attributable to owners of the company were $33 million, or $0.28 per diluted share compared with net earnings of $82 million, or $0.69 per diluted share, in 2013. The company reported net sales of $1,261 million compared to $1,278 million, earnings before interest and taxes of $104 million compared to $104 million, earnings before taxes of $30 million compared to $79 million, earnings before interest and taxes of $104 million compared to $104 million, adjusted EBIT of $107 million compared with $96 million for the last year.
The company estimates an effective tax rate of 30% to 32% and a cash tax rate of 10% to 12% on adjusted pre-tax earnings, due to the company's $2.2 billion U.S. tax net operating loss carry forward. Capital expenditures in 2015 are expected to total approximately $355 million, including an estimated $55 million for the completion of a new non-wovens facility. Interest expenses are expected to be about $110 million.
Owens Corning Presents at Nineteenth Annual ARC Industry Forum 2015, Feb-09-2015
Feb 6 15
Owens Corning Presents at Nineteenth Annual ARC Industry Forum 2015, Feb-09-2015 . Venue: Renaissance Orlando at SeaWorld, 6677 Sea Harbor Drive, Orlando, FL 32821, United States. Speakers: Lee Richards, Manufacturing Architect, Tim Schultz, IS Lead Professional.