Owens Corning reports Q1 2020 results

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Glass fiber company Owens Corning has reported consolidated net sales of US$1.6 billion, a decrease of 4% or US$66 million compared with 2019.

First-quarter 2020 net loss attributable to the company was US$917 million, or US$8.43 per diluted share, compared with net earnings attributable to Owens Corning of US$44 million, or US$0.40 per diluted share, in 2019, the company said.

‘I’m very proud of our team’s strong execution and ability to deliver our first-quarter results in the face of the COVID-19 pandemic,’ said Chairman and CEO Brian Chambers. ‘Our long-standing commitment to safety remains at the forefront of everything we do while serving the needs of our customers, our communities, and other key stakeholders. Going forward, the continued resilience of our team, along with our strong customer connections, operating discipline, and balance sheet, position us well to manage through this crisis and gain momentum once our markets begin to recover.’

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.