Owens Corning Inc · NYSE:OC
Owens Corning — Q1 2025 Earnings Presentation
25 slides from Owens Corning's earnings presentation, May 7, 2025
Slide 1: First-Quarter 2025 Results
FIRST-QUARTER 2025 RESULTS Brian Chambers | Chair & Chief Executive Officer Todd Fister | Chief Financial Officer May 7, 2025 | Q1 2025
Slide 2: Forward-Looking Statements and Non-GAAP Measures
FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES This presentation and the associated remarks contain forward-looking statements. We caution you against relying on these statements as they are subject to risks, uncertainties and other factors and actual results may differ materially from those resul
Slide 3: Agenda
AGENDA COMPANY HIGHLIGHTS Brian Chambers FINANCIAL RESULTS Todd Fister BUSINESS OUTLOOK Brian Chambers QUESTIONS AND DISCUSSION All Owens Corning Delivers Strong Revenue and Margin Performance from Continuing Operations in the First Quarter 3
Slide 4: Owens Corning Highlights
OWENS CORNING HIGHLIGHTS ($ in millions)2 Q1 2025 Q1 2024 Maintained high level of safety Net sales 2,530 2,017 performance, including Doors Adjusted EBITDA 565 515 segment Adjusted EBITDA as % of net sales 22% 26% 19th consecutive quarter delivering 20% or better adjusted EBITDA margins1 Five-year
Slide 5: Financial Summary
FINANCIAL SUMMARY ($ in millions, except per share data)1 Q1 2025 Q1 2024 Net sales 2,530 2,017 Net sales growth 25% n/a Net earnings attributable to OC 255 278 Net earnings attributable to OC as % of net sales 10% 14% Adjusted EBITDA 565 515 Adjusted EBITDA as % of net sales 22% 26% EPS (diluted) $
Slide 6: Balance Sheet and Capital Deployment
BALANCE SHEET AND CAPITAL DEPLOYMENT Capital allocation strategy remains focused on consistently generating strong free cash flow, returning approximately 50% to investors over time, and maintaining an investment grade balance sheet, while executing on business strategies to grow the company First-Q
Slide 7: Roofing Business
ROOFING BUSINESS ($ in millions)1 Q1 2025 Q1 2024 Delivered first-quarter revenue of Net sales 1,120 1,098 $1.1b, up 2% from prior year EBITDA 332 338 EBITDA as % of net sales 30% 31% Generated $332mm of EBITDA with 30% EBITDA margin Five-year financial performance2 $5,000 35% 30% $4,000 25% Demand
Slide 8: Insulation Business
INSULATION BUSINESS ($ in millions)1 Q1 2025 Q1 2024 Delivered first-quarter revenue of Net sales 909 957 $909mm, down 5% from prior year EBITDA 225 223 EBITDA as % of net sales 25% 23% Generated $225mm of EBITDA with 25% EBITDA margin Five-year financial performance2 $4,000 25% $3,200 20% Expanded
Slide 9: Doors Business
DOORS BUSINESS ($ in millions) Q1 2025 Delivered first-quarter revenue of Net sales 540 $540mm EBITDA 68 EBITDA as % of net sales 13% Generated $68mm of EBITDA with 13% EBITDA margin Revenue by Product1 Revenue by Geography1 Components Canada Interior Europe On track to exceed $125mm of enterprise c
Slide 10: Full-Year 2025 Key Financial Outlook
FULL-YEAR 2025 KEY FINANCIAL OUTLOOK FY 2025 General corporate EBITDA expenses $240mm - $260mm Interest expense1 $250mm - $260mm Full-year effective tax rate1 24% - 26% Capital additions1 Approximately $800mm Depreciation and amortization Approximately $650mm 1. Reflects full company performance inc
Slide 11: Q2 2025 Business Outlook
Q2 2025 BUSINESS OUTLOOK ENTERPRISE: • Revenue growth for continuing operations of high single-digits, compared to prior year’s revenue of $2.5 billion • Expect building products end markets in North America and Europe to provide solid, but mixed, opportunities • Anticipate positive price for the en
Slide 12: Questions and Discussion
QUESTIONS AND DISCUSSION
Slide 13: Appendix A: Non-GAAP Reconciliations – Table 1
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 1 13
Slide 14: Appendix A: Non-GAAP Reconciliations – Table 2
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 2 14
Slide 15: Appendix A: Non-GAAP Reconciliations – Table 3
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 3 15
Slide 16: Appendix A: Non-GAAP Reconciliations – Table 4
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 4 16
Slide 17: Appendix A: Non-GAAP Reconciliations – Table 5
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 5 17
Slide 18: Appendix A: Non-GAAP Reconciliations – Table 6
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 6 18
Slide 19: Appendix A: Non-GAAP Reconciliations – Table 7
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 7 19
Slide 20: Appendix A: Non-GAAP Reconciliations – Table 8
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 8 20
Slide 21: Appendix A: Non-GAAP Reconciliations – Table 9
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 9 21
Slide 22: Appendix A: Non-GAAP Reconciliations – Table 10
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 10 22
Slide 23: Appendix A: Non-GAAP Reconciliations – Table 11
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 11 23
Slide 24: Appendix A: Non-GAAP Reconciliations – Table 12
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 12 24
Slide 25: Appendix A: Non-GAAP Reconciliations – Table 13
APPENDIX A: NON-GAAP RECONCILIATIONS – TABLE 13 25