Net sales

Owens Corning posts record net sales

Owens Corninga global maker of building and building materials, released its second quarter 2022 results. Reported record net sales of $2.6 billion, an increase of 16%.

Composites net sales increased 23% to $719 million in the second quarter of 2022 compared to the second quarter of 2021, primarily due to higher selling prices and favorable customer mix impact. Insulation net sales increased 16% to $934 million in the second quarter of 2022 compared to the second quarter of 2021, due to higher selling prices and the impact of a favorable customer mix , partially offset by the negative impact of foreign currencies. Roofing net sales increased 11% to $1 billion in the second quarter of 2022 compared to the second quarter of 2021, as higher selling prices were partially offset by lower sales volumes.

“Owens Corning delivered another exceptional quarter while advancing our business strategy that accelerates our growth, strengthens our earnings capacity and creates additional value for our shareholders. Our global teams continue to perform at a high level as we make strategic investments to expand our total addressable markets and strengthen our market leadership positions,” said Chairman and CEO Brian Chambers. “For the second half of the year, we remain focused on delivering strong financial results and positioning the business for long-term success.”