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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 2.79B | 21.3% |
| Gross Profit | 867M | 27.5% |
| Cost of Revenue | 1.92B | 18.6% |
| Operating expense | 410M | 48% |
| Net Income | 285M | 4.7% |
| EBITDA | 496M | 18.1% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 15B | 33% |
| Total Liabilities | 9.47B | 57.8% |
| Total Equity | 5.47B | 4.6% |
| Shares Outstanding | 87M | 0.2% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 493M | 1954.2% |
| Cash from investing | -3.01B | 1960.3% |
| Cash from financing | 1.56B | 764.5% |
EPS
Financial Highlights for Owens Corning in Q2 '24
Owens Corning reported a revenue of 2.79B, which is a 21.3% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 867M, marking a 27.5% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.92B, a 18.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 410M, showing a 48% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 285M, showing a -4.7% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 496M, showing a 18.1% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Owens Corning faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
