分组1 - 公司于2020年10月28日上午9点召开2020年第三季度财报电话会议 [1] - 会议参与者包括公司投资者关系总监Amber Wohlfarth、董事长兼首席执行官Brian Chambers、首席财务官Ken Parks，以及来自多家金融机构的人员 [1] - 会议结束后有提问环节，为容纳更多参与者，要求每人限提一个问题 [4] - 当天上午公司发布新闻稿并提交10 - Q文件，详细说明了2020年第三季度财务结果，还准备了总结业绩和结果的演示幻灯片，可在公司网站owenscorning.com获取 [4][5] 问答环节所有提问和回答 - 文档未提及问答环节内容，暂无法总结

公司概况 - 公司拥有19000名员工，2019年营收可观，在多个国家运营，连续多年入选《财富》500强，业务涵盖保温、 roofing、复合材料领域[9][10] 投资亮点 - 公司是全球建筑和工业材料领导者，凭借市场领先地位和创新技术，实现大量自由现金流和可持续股东价值[14] - 2019年绝缘、 roofing、复合材料业务净销售额分别为26.68亿美元、26.34亿美元、20.59亿美元，调整后EBIT利润率分别为9%、17%、12%[35][38][41] 业务表现 - 绝缘业务拓展技术和其他建筑保温，1985 - 2008年平均EBITDA利润率达19%，收购增强业务稳定性和利润率[76][80] - roofing业务运营表现良好，美国沥青 roofing需求因房屋老化、经济因素和天气事件呈积极长期趋势[90][95] - 复合材料业务受益行业趋势，玻璃非织造布业务有吸引力，玻璃纤维市场规模达80亿美元[102][107] 财务数据 - 2020年Q2净销售额16.25亿美元，净收益9600万美元，调整后EBIT利润率10%[111] - 2016 - 2019年平均自由现金流转化率达125%，优于同行[54][55] 资本分配 - 2016 - 2019年向股东返还超10亿美元现金，资本分配策略聚焦提高总股东回报，目标债务/EBITDA杠杆2 - 3倍，至少返还50%自由现金流给股东[66] 风险提示 - 公司前瞻性陈述含风险和不确定性，实际结果可能与预测有重大差异，涉及疫情、行业活动、竞争、政策等多方面因素[3]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (Exact name of registrant as specified in its charter) Delaware 43-2109021 (State or ot ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (Exact name of registrant as specified in its charter) Delaware 43-2109021 (State or other j ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (Exact name of registrant as specified in its charter) Delaware 43-2109021 (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (Exact name of registrant as specified in its charter) Delaware 43-2109021 (State or other jurisdiction of incorporation or o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identif ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (Exact name of registrant as specified in its charter) (State or other jurisdiction of incor ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 r TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-33100 Owens Corning (Exact name of registrant as specified in its charter) Delaware 43-2109021 (State or other jurisdiction of incorporation or orga ...