Owens Corning Delivers Record Net Sales Q2 2022

Composites net sales increased 23% to $719 million in second-quarter 2022 compared with second-quarter 2021, primarily due to higher selling prices and the favorable impact of customer mix. EBIT increased $56 million to $154 million, with 21% EBIT margins, on higher selling prices and favorable mix, which more than offset input cost inflation and increased transportation costs.

Insulation net sales increased 16% to $934 million in second-quarter 2022 compared with second-quarter 2021, as a result of higher selling prices and the impact of favorable customer mix, partially offset by the negative impact of foreign currency. EBIT increased $45 million to $157 million, with 17% EBIT margins, on higher selling prices and favorable mix, which more than offset accelerating energy, material and transportation inflation.

Roofing net sales increased 11% to $1.0 billion in second-quarter 2022 compared with second-quarter 2021, with higher selling prices partially offset by lower sales volumes. EBIT increased $24 million to $258 million, with 25% EBIT margins, primarily due to higher selling prices which more than offset accelerating cost inflation, primarily asphalt, and increased transportation costs.