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21st February 2018, Toledo, OH

Owens Corning records earnings decline in 2017

In composites, the company expects continued growth in the glass fibre market, driven by global industrial production growth. Owens Corning, a leading developer, manufacturer, and marketer of insulation, roofing, and fiberglass composites, has reported full-year 2017 net earnings were US$ 289 million, versus net earnings of US$ 393 million during 2016. Adjusted earnings in 2017 were US$ 498 million, compared to US$ 419 million during 2016.

The company also reported consolidated net sales of US$ 1.6 billion in fourth-quarter 2017, compared to US$ 1.4 billion in fourth-quarter 2016, an increase of 16%. Full-year 2017 consolidated net sales were US$ 6.4 billion, versus US$ 5.7 billion in 2016. Fourth-quarter 2017 net loss attributable to Owens Corning was US$ 4 million, compared to net earnings of US$ 86 million during the comparable quarter in 2016. Fourth-quarter 2017 adjusted earnings were US$ 125 million, compared to US$ 81 million during the same period one year ago.

Read the full article on our Inside Composites website

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