US: Owens Corning’s net sales from insulation rose by 4% year-on-year to US$399m in the first quarter of 2017 from US$385m in the same period of 2016. However, its earnings before interest and taxation (EBIT) for insulation fell by 62% to US$5m from US$13m. The company said that the business benefitted from continued recovery in the US residential market. Overall across all business lines the company’s net sales and EBIT rose in the quarter.
“Owens Corning is off to a great start in 2017. The company capitalised on market growth and delivered an outstanding result in the quarter,” said chairman and chief executive officer Mike Thaman. “All three businesses are executing on our priorities, and we are well-positioned to achieve another year of strong performance.”
