财务业绩 - 2020年净销售额70.55亿美元，同比下降1%；净收益为亏损3.83亿美元，上年为盈利4.05亿美元[7][8][9] - 调整后EBIT达8.78亿美元，同比增长6%；调整后EBITDA为13.51亿美元，同比增长6% [8][9] - 全年经营现金流11.35亿美元，自由现金流8.28亿美元，分别同比增长9.4%和40.3% [9] 业务板块表现 - 保温材料业务EBIT为2.5亿美元，利润率10%；复合材料业务EBIT为1.65亿美元，利润率8%； roofing业务EBIT为5.91亿美元，利润率22% [8] 重大财务事项 - 2020年自由现金流8.28亿美元，同比增加2.38亿美元，自由现金流转化率146% [36] - 通过股票回购和股息向股东返还3.96亿美元现金，年末有950万股可用于回购 [36] - 完成资产负债表去杠杆，年末可用流动性18亿美元 [36] 业务展望 - 预计新冠疫情将持续带来市场不确定性，美国住宅市场短期内保持强劲，商业和工业市场复苏较慢 [38] - 预计一般公司费用在1.35 - 1.45亿美元，资本支出约4.6亿美元，利息费用在1.2 - 1.3亿美元 [38] - 预计调整后税前收益的有效税率为26% - 28%，现金税率为18% - 20% [38]

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, 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 jurisdiction of incorporation or o ...

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 ...