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News Owens Corning publishes first quarter 2020 results

Owens Corning publishes first quarter 2020 results

Written by Global Insulation staff
30 April 2020
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US: Owens Corning has recorded a first quarter loss of US$916m in 2020, compared to a US$44.0m profit in the corresponding period of 2019. Net sales were US$1.60bn, down by 4.0% from US$1.67bn. Insulation sales grew by 2.0% to US$603m (38% of net sales) from US$591m. The insulation section’s negative balance of earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 71% to US$10.0m US$34.0m.

Owens Corning chairman and CEO Brian Chambers said, “I’m very proud of our team’s strong execution and ability to deliver our first-quarter results in the face of the Covid-19 pandemic. Our long-standing commitment to safety remains at the forefront of everything we do while serving the needs of our customers, our communities, and other key stakeholders.”

Last modified on 01 June 2020
Published in Global Insulation News
Tagged under
  • US
  • Owens Corning
  • Results
  • Sales
  • Insulation
  • division
  • coronavirus
  • earnings before interest, taxation, depreciation and amortisation
  • safety
  • GGM46

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