By Kelly Cloonan
Owens Corning said it is targeting $12.5 billion in annual revenue by 2028 as it pursues a new enterprise strategy.
The building-products company said Wednesday the new revenue goal compares to $10.6 billion in pro forma sales in 2024.
Chief Executive Brian Chambers said the Toledo, Ohio, company's new strategy leans on the market-leading positions of its roofing, insulation and doors businesses as well as the company's scale.
The strategy will also extend product offerings within its existing businesses, the company said.
Owens Corning raised its long-term outlook for adjusted earnings before interest, taxes, depreciation, and amortization for its insulation unit given structural cost improvements, growing markets, and a flexible and efficient manufacturing network. The company also raised its adjusted EBITDA guidance for its roofing segment.
"With the strategic choices and structural improvements we have made, the new Owens Corning is well-positioned to generate significant value," Chambers said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 14, 2025 18:55 ET (22:55 GMT)
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