Owens Corning Announces Share Authorization for Repurchase of up to 12 Million Additional Shares
Owens Corning (NYSE:OC), a building products leader, today announced that its Board of Directors has approved a new share repurchase authorization for up to 12 million shares of the company's common stock. The action reaffirms the company's capital allocation strategy and reflects the success of its disciplined commercial and operational execution to deliver consistent and sustainable performance in dynamic market conditions.
This authorization is in addition to the previously announced share repurchase program in which approximately 5.7 million shares remained available for repurchase as of March 31, 2025.
"The additional share repurchase authorization reflects the earnings power of our company and confidence in our ability to consistently generate strong free cash flow," said Chair and Chief Executive Officer Brian Chambers. "We remain committed to our long-term capital allocation strategy and returning free cash flow to shareholders over time."
The authorization enables the company to repurchase shares through open-market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions, and other factors, and will be at the company's discretion.
2025 Investor Day Today
Owens Corning will host its 2025 Investor Day today, May 14, from 9 a.m. to approximately 12 p.m. ET. Chair and Chief Executive Officer Brian Chambers and Chief Financial Officer Todd Fister will be joined by members of the company's executive leadership team to discuss Owens Corning's long-term strategy, enterprise capabilities, and financial goals through 2028.
The event will be live streamed and include a question-and-answer session.
Participants can access the live webcast and slide presentations at: owenscorninginvestorday2025.q4ir.com
Shortly following the conclusion of the event, an archived replay of the webcast and slide presentations will be available on Owens Corning's 2025 Investor Day website and the company's investor relations website.
About Owens Corning
Owens Corning is a building products leader committed to building a sustainable future through material innovation. Our products provide durable, sustainable, energy-efficient solutions that leverage our unique capabilities and market-leading positions to help our customers win and grow. We are global in scope, human in scale with more than 25,000 employees in 31 countries dedicated to generating value for our customers and shareholders and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2024 sales of $11.0 billion. For more information, visit www.owenscorning.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to risks, uncertainties and other factors and actual results may differ materially from those results projected in the statements. These risks, uncertainties and other factors include, without limitation: levels of residential and commercial or industrial construction activity; demand for our products; industry and economic conditions including, but not limited to, supply chain disruptions, recessionary conditions, inflationary pressures, and interest rate and financial markets volatility; additional changes to tariff, trade or investment policies or laws by the United States, or similar actions, including reciprocal actions, by foreign governments; availability and cost of energy and raw materials; competitive and pricing factors; relationships with key customers and customer concentration in certain areas; our ability to achieve expected synergies, cost reductions and/or productivity improvements; issues related to acquisitions, divestitures and joint ventures or expansions; our ability to complete the announced divestiture of our glass reinforcements business on the expected terms and within the anticipated time period, or at all, which is dependent on the parties' ability to satisfy certain closing conditions; climate change, weather conditions and storm activity; legislation and related regulations or interpretations in the United States or elsewhere; domestic and international economic and political conditions, policies or other governmental actions, as well as war and civil disturbance; uninsured losses or major manufacturing disruptions, including those from natural disasters, catastrophes, pandemics, theft or sabotage; environmental, product-related or other legal and regulatory liabilities, proceedings or actions; research and development activities and intellectual property protection; issues involving implementation and protection of information technology systems; foreign exchange and commodity price fluctuations; our level of indebtedness; our liquidity and the availability and cost of credit; the level of fixed costs required to run our business; levels of goodwill or other indefinite-lived intangible assets; loss of key employees and labor disputes or shortages; defined benefit plan funding obligations; and factors detailed from time to time in the company's Securities and Exchange Commission filings. The information in this press release speaks as of May 14, 2025, and is subject to change. The company does not undertake any duty to update or revise forward-looking statements except as required by federal securities laws. Any distribution of this press release after that date is not intended and should not be construed as updating or confirming such information.
Owens Corning Company News / Owens Corning Investor Relations News
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