Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 216

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 216
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ization (“EBITDA”) by segment is a non-GAAP measure that consists of EBIT plus depreciation and amortization. Segment EBITDA is used internally by the Company for analysis of our performance. However, segment EBIT is the principal measure used by the chief operating decision maker ("CODM") to assess segment performance and make decisions on the allocation of resources.

Roofing

The table below provides a summary of net sales, EBIT, depreciation and amortization expense, and EBITDA for the Roofing segment:                                                 Twelve Months Ended December 31,(In millions)20242023Net sales$4,052 $4,030 % change from prior year1 %10 %EBIT$1,298 $1,174 EBIT as a % of net sales32 %29 %Depreciation and amortization expense$62 $64 EBITDA$1,360 $1,238 EBITDA as a % of net sales34 %31 %

NET SALES

In our Roofing segment, net sales increased $22 million in 2024 compared to 2023 due to higher selling prices of $165 million and favorable product mix, mostly offset by lower volumes of approximately 6%.

EBIT

In our Roofing segment, EBIT increased $124 million in 2024 compared to 2023 driven primarily by higher selling prices of $165 million, favorable product mix and favorable delivery of $22 million, slightly offset by lower sales volumes and input cost inflation.

OUTLOOK

In our Roofing segment, the Company expects residential repair and remodeling activity to remain solid. Other uncertainties that may impact Roofing demand include demand from storms and other weather-related events, competitive pricing pressure and the cost and availability of raw materials, particularly asphalt. The Company will continue to focus on managing costs, capital expenditures and working capital to best service the market demand.

Insulation

The table below provides a summary of net sales, EBIT, depreciation and amortization expense and EBITDA for the Insulation segment:

 Twelve Months Ended December 31,(In millions)20242023Net sales$3,692 $3,668 % change from prior year1 %-1 %EBIT$682 $619 EBIT as a % of net sales18 %17 %Depreciation and amortization expense$210 $210 EBITDA$892 $829