Owens Corning recently reported consolidated net sales of $5 billion, a 4% increase in net sales compared to $4.8 billion in 2009. Full-year adjusted earnings were $199 million, compared with $145 million in 2009. Net earnings were $933 million, vs. net earnings of $64 million in 2009. Fourth quarter 2010 adjusted earnings were $29 million, compared with $1 million one year ago.
“Our 2010 financial performance was strong,” said Mike Thaman, chairman and CEO. “Owens Corning’s portfolio of market-leading businesses delivered robust profitability despite markets that continued to perform well below their potential.
“Improving global demand fueled impressive operating leverage in Composites,” he said. “In Building Materials, our Roofing business delivered 22% operating margins despite enduring a weak market. Looking forward to 2011, we expect improving demand in all of our major end markets, and we are confident in our ability to deliver another year of adjusted earnings per share growth of more than 30%.”
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Owens Corning Net Sales Increase 4%
February 24, 2011