Owens Corning has reported consolidated net sales of US$5.4 billion in 2015, compared to net sales of US$5.3 billion in 2014.
Full-year 2015 adjusted earnings were US$304 million, or US$2.57 per diluted share, compared to adjusted earnings of US$208 million, or US$1.76 per diluted share, in 2014. Net earnings in 2015 were US$330 million, or US$2.79 per diluted share, compared to net earnings of US$226 million, or US$1.91 per diluted share last year.
Fourth-quarter 2015 adjusted earnings were US$79 million, or US$0.66 per diluted share, compared with US$55 million, or US$0.47 per diluted share, during the same period one year ago. The company reported net earnings of US$109 million, or US$0.92 per diluted share, in the fourth quarter of 2015, compared with net earnings of US$33 million, or US$0.28 per diluted share, in 2014.
‘Owens Corning delivered an outstanding year with US$550 million of adjusted EBIT,’ said chairman and CEO Mike Thaman. ‘Strong operational and commercial execution drove significant earnings growth in all three of our businesses, resulting in the best year of earnings growth in the history of our company.’
The company expects its composites segment to experience continued growth in the GLASS FIBER market driven by moderate global industrial production growth. ‘Following very strong earnings growth in 2015, we expect composites to increase EBIT by at least US$20 million in 2016, on price and volume improvements,’ the company said in a press release.
This story uses material from Owens Corning, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.