Owens Corning

a leading manufacturer of insulation, roofing, and composite materials, has announced that its board of directors has authorized the repurchase of up to 12 million additional shares of common stock. This move brings the company’s total available authorization to approximately 17.7 million shares.

Key Details:

– Total Shares Authorized for Repurchase: 17.7 million, including 5.7 million remaining from a prior buyback program

– New Authorization: 12 million additional shares

– Purpose: Return capital to shareholders while continuing to invest in growth

– Current Stock Price: $142.72 (as of May 14, 2025)

– *Market Cap*: $12.34 billion

– Price-to-Earnings Ratio: 19.07

Company Performance:

– Q1 Revenue: $2.5 billion, a 25% year-over-year increase

– Operating Margins: 20% or higher for 19 consecutive quarters

– Adjusted Earnings Per Share: $2.97 (exceeding estimates of $2.95)

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Analyst Outlook:

– Median 12-Month Price Target: $169.29

– Highest Price Target: $218

– Strong Free Cash Flow: Provides flexibility for disciplined capital allocation and share repurchases

This share repurchase authorization reflects Owens Corning’s confidence in its ability to generate strong free cash flow and its commitment to returning value to shareholders ² ³.