Owens Corning (OC) Ails From High Costs, Strategic …

It has been benefiting from product price increases and key growth initiatives. Simpson’s earnings for 2023 are expected to decrease by 16.8%. Strong 2022 Result: Owens Corning reported impressive results for 2022. Adjusted earnings increased 39% and net sales rose 15% year over year. The uptick was mainly backed by the strength of the Insulation and Roofing businesses. Despite lower volumes, high costs and unfavorable currency, strong pricing helped the company generate higher earnings. Adjusted EBIT and adjusted EBITDA rose 25% and 19% on a year-over-year basis, respectively. Both adjusted EBIT and adjusted EBITDA margins expanded by 100 bps.