$OC
Owens Corning

2024 Q2 Form 10-Q Financial Statement

#000137094624000129 Filed on April 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $2.789B $2.300B
YoY Change 8.82% -1.33%
Cost Of Revenue $1.922B $1.613B
YoY Change 7.49% -7.41%
Gross Profit $867.0M $687.0M
YoY Change 11.87% 16.64%
Gross Profit Margin 31.09% 29.87%
Selling, General & Admin $249.0M $212.0M
YoY Change 20.87% 3.92%
% of Gross Profit 28.72% 30.86%
Research & Development $34.00M $31.00M
YoY Change 21.43% 10.71%
% of Gross Profit 3.92% 4.51%
Depreciation & Amortization $167.0M $131.0M
YoY Change 5.03% 3.15%
% of Gross Profit 19.26% 19.07%
Operating Expenses $410.0M $252.0M
YoY Change 70.12% 358.18%
Operating Profit $457.0M $435.0M
YoY Change -14.42% -18.54%
Interest Expense -$64.00M -$17.00M
YoY Change 178.26% -177.27%
% of Operating Profit -14.0% -3.91%
Other Income/Expense, Net $1.000M $0.00
YoY Change
Pretax Income $394.0M $386.0M
YoY Change -15.09% -24.61%
Income Tax $110.0M $88.00M
% Of Pretax Income 27.92% 22.8%
Net Earnings $285.0M $299.0M
YoY Change -17.39% -21.93%
Net Earnings / Revenue 10.22% 13.0%
Basic Earnings Per Share $3.27 $3.42
Diluted Earnings Per Share $3.24 $3.40
COMMON SHARES
Basic Shares Outstanding 86.66M shares 87.01M shares
Diluted Shares Outstanding 88.00M shares 87.90M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $254.0M $1.254B
YoY Change -73.76% 65.65%
Cash & Equivalents $254.0M $1.254B
Short-Term Investments
Other Short-Term Assets $209.0M $112.0M
YoY Change 71.31% 3.7%
Inventory $1.576B $1.205B
Prepaid Expenses
Receivables $1.680B $1.410B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.719B $3.981B
YoY Change -1.9% 10.8%
LONG-TERM ASSETS
Property, Plant & Equipment $4.640B $4.017B
YoY Change 17.56% 7.26%
Goodwill $2.683B $1.385B
YoY Change 93.44% -0.14%
Intangibles $3.006B $1.510B
YoY Change 92.08% -6.21%
Long-Term Investments
YoY Change
Other Assets $448.0M $376.0M
YoY Change 44.05% 36.73%
Total Long-Term Assets $11.27B $7.288B
YoY Change 56.34% 0.57%
TOTAL ASSETS
Total Short-Term Assets $3.719B $3.981B
Total Long-Term Assets $11.27B $7.288B
Total Assets $14.99B $11.27B
YoY Change 36.27% 3.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.403B $1.177B
YoY Change 16.82% -5.31%
Accrued Expenses $87.00M $59.00M
YoY Change 47.46% 7.27%
Deferred Revenue
YoY Change
Short-Term Debt $155.0M $0.00
YoY Change -100.0%
Long-Term Debt Due $35.00M $433.0M
YoY Change 12.9% 1393.1%
Total Short-Term Liabilities $2.722B $2.268B
YoY Change 48.58% 17.33%
LONG-TERM LIABILITIES
Long-Term Debt $5.020B $2.645B
YoY Change 67.11% -11.8%
Other Long-Term Liabilities $351.0M $661.0M
YoY Change -47.46% 114.61%
Total Long-Term Liabilities $5.371B $3.306B
YoY Change 46.27% -0.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.722B $2.268B
Total Long-Term Liabilities $5.371B $3.306B
Total Liabilities $9.466B $6.040B
YoY Change 58.11% 0.62%
SHAREHOLDERS EQUITY
Retained Earnings $5.273B $5.041B
YoY Change 19.11% 22.09%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.391B $3.433B
YoY Change 16.13% 21.91%
Treasury Stock Shares
Shareholders Equity $5.472B $5.229B
YoY Change
Total Liabilities & Shareholders Equity $14.99B $11.27B
YoY Change 36.27% 3.96%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $285.0M $299.0M
YoY Change -17.39% -21.93%
Depreciation, Depletion And Amortization $167.0M $131.0M
YoY Change 5.03% 3.15%
Cash From Operating Activities $493.0M $24.00M
YoY Change -0.2% -114.63%
INVESTING ACTIVITIES
Capital Expenditures $157.0M $152.0M
YoY Change 28.69% -3.8%
Acquisitions
YoY Change
Other Investing Activities -$2.851B $6.000M
YoY Change 71175.0% -14.29%
Cash From Investing Activities -$3.008B -$146.0M
YoY Change 2287.3% -708.33%
FINANCING ACTIVITIES
Cash Dividend Paid $52.00M
YoY Change 8.33%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.555B -234.0M
YoY Change -1020.12% 8.33%
NET CHANGE
Cash From Operating Activities 493.0M 24.00M
Cash From Investing Activities -3.008B -146.0M
Cash From Financing Activities 1.555B -234.0M
Net Change In Cash -960.0M -356.0M
YoY Change -582.41% 4.09%
FREE CASH FLOW
Cash From Operating Activities $493.0M $24.00M
Capital Expenditures $157.0M $152.0M
Free Cash Flow $336.0M -$128.0M
YoY Change -9.68% -60.25%

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