$OC
Owens Corning

2022 Q3 Form 10-Q Financial Statement

#000137094622000037 Filed on July 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $2.529B $2.601B $2.346B
YoY Change 14.28% 16.17% 22.51%
Cost Of Revenue $1.836B $1.867B $1.727B
YoY Change 13.54% 15.18% 17.4%
Gross Profit $693.0M $734.0M $619.0M
YoY Change 16.28% 18.77% 39.41%
Gross Profit Margin 27.4% 28.22% 26.39%
Selling, General & Admin $201.0M $201.0M $184.0M
YoY Change 8.06% 6.91% 5.75%
% of Gross Profit 29.0% 27.38% 29.73%
Research & Development $26.00M $24.00M $23.00M
YoY Change 23.81% 9.09% 15.0%
% of Gross Profit 3.75% 3.27% 3.72%
Depreciation & Amortization $130.0M $138.0M $132.0M
YoY Change 0.78% 13.11% 10.92%
% of Gross Profit 18.76% 18.8% 21.32%
Operating Expenses $85.00M $247.0M $179.0M
YoY Change -58.33% 27.98% 22.6%
Operating Profit $608.0M $487.0M $440.0M
YoY Change 55.1% 14.59% 47.65%
Interest Expense $28.00M $26.00M $28.00M
YoY Change -9.68% -21.21% -15.15%
% of Operating Profit 4.61% 5.34% 6.36%
Other Income/Expense, Net $2.000M $2.000M $2.000M
YoY Change -50.0% -33.33% -33.33%
Pretax Income $582.0M $463.0M $414.0M
YoY Change 64.41% 17.22% 54.48%
Income Tax $114.0M $119.0M $107.0M
% Of Pretax Income 19.59% 25.7% 25.85%
Net Earnings $470.0M $343.0M $304.0M
YoY Change 80.77% 15.1% 44.76%
Net Earnings / Revenue 18.58% 13.19% 12.96%
Basic Earnings Per Share $4.88 $3.51 $3.06
Diluted Earnings Per Share $4.84 $3.49 $3.03
COMMON SHARES
Basic Shares Outstanding 96.24M shares 97.60M shares 99.50M shares
Diluted Shares Outstanding 97.10M shares 98.40M shares 100.2M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $751.0M $810.0M $748.0M
YoY Change -18.37% -8.78% 23.64%
Cash & Equivalents $751.0M $810.0M $748.0M
Short-Term Investments
Other Short-Term Assets $190.0M $186.0M $141.0M
YoY Change 42.86% 51.22% 25.89%
Inventory $1.322B $1.254B $1.147B
Prepaid Expenses
Receivables $1.304B $1.358B $1.395B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.567B $3.689B $3.431B
YoY Change 13.49% 18.09% 25.31%
LONG-TERM ASSETS
Property, Plant & Equipment $3.660B $3.684B $3.825B
YoY Change -2.84% -2.82% 1.78%
Goodwill $1.367B $1.079B $983.0M
YoY Change 37.39% 9.54% 0.31%
Intangibles $1.677B $1.614B $1.606B
YoY Change 2.95% -1.22% -2.49%
Long-Term Investments
YoY Change
Other Assets $251.0M $267.0M $259.0M
YoY Change -4.56% 0.75% -1.89%
Total Long-Term Assets $7.154B $6.854B $6.885B
YoY Change 4.62% 0.01% 0.92%
TOTAL ASSETS
Total Short-Term Assets $3.567B $3.689B $3.431B
Total Long-Term Assets $7.154B $6.854B $6.885B
Total Assets $10.72B $10.54B $10.32B
YoY Change 7.41% 5.67% 7.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.320B $1.327B $1.328B
YoY Change
Accrued Expenses $51.00M $54.00M $52.00M
YoY Change -1.92% 1.89% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $1.000M $1.000M
YoY Change -50.0% 0.0% 0.0%
Long-Term Debt Due $25.00M $25.00M $26.00M
YoY Change 4.17% 8.7% 13.04%
Total Short-Term Liabilities $2.014B $1.974B $1.999B
YoY Change 19.45% 20.59% 36.26%
LONG-TERM LIABILITIES
Long-Term Debt $2.988B $2.989B $2.959B
YoY Change 1.01% -4.93% -5.91%
Other Long-Term Liabilities $295.0M $266.0M $258.0M
YoY Change -8.39% 3.91% 14.16%
Total Long-Term Liabilities $3.283B $3.255B $3.217B
YoY Change 0.09% -4.26% -4.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.014B $1.974B $1.999B
Total Long-Term Liabilities $3.283B $3.255B $3.217B
Total Liabilities $6.035B $5.956B $5.216B
YoY Change 21.53% 18.24% 7.81%
SHAREHOLDERS EQUITY
Retained Earnings $3.719B $3.282B $2.974B
YoY Change 47.87% 43.82% 47.89%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.428B $2.222B $2.144B
YoY Change 34.96% 35.74% 41.05%
Treasury Stock Shares 37.40M shares
Shareholders Equity $4.640B $4.540B $4.341B
YoY Change
Total Liabilities & Shareholders Equity $10.72B $10.54B $10.32B
YoY Change 7.41% 5.67% 7.91%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $470.0M $343.0M $304.0M
YoY Change 80.77% 15.1% 44.76%
Depreciation, Depletion And Amortization $130.0M $138.0M $132.0M
YoY Change 0.78% 13.11% 10.92%
Cash From Operating Activities $461.0M $466.0M $158.0M
YoY Change -1.07% -6.43% -22.55%
INVESTING ACTIVITIES
Capital Expenditures -$94.00M -$105.0M -$107.0M
YoY Change 42.42% 12.9% 27.38%
Acquisitions
YoY Change
Other Investing Activities -$139.0M -$147.0M $2.000M
YoY Change -475.68% -14800.0% 0.0%
Cash From Investing Activities -$233.0M -$252.0M -$88.00M
YoY Change 703.45% 173.91% -27.27%
FINANCING ACTIVITIES
Cash Dividend Paid $35.00M
YoY Change -36.36%
Common Stock Issuance & Retirement, Net $229.0M
YoY Change 61.27%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -246.0M -144.0M -$285.0M
YoY Change -37.88% 14.29% 46.91%
NET CHANGE
Cash From Operating Activities 461.0M 466.0M $158.0M
Cash From Investing Activities -233.0M -252.0M -$88.00M
Cash From Financing Activities -246.0M -144.0M -$285.0M
Net Change In Cash -18.00M 70.00M -$211.0M
YoY Change -143.9% -75.0% 88.39%
FREE CASH FLOW
Cash From Operating Activities $461.0M $466.0M $158.0M
Capital Expenditures -$94.00M -$105.0M -$107.0M
Free Cash Flow $555.0M $571.0M $265.0M
YoY Change 4.32% -3.38% -7.99%

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us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
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us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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