Mission Statement, Vision, & Core Values of Owens Corning (OC)

How well do you know the guiding principles of the companies you invest in or work for? For 2024, Owens Corning, a leader in building and construction materials with $11.0 billion in net sales, operates with a clear mission, vision, and set of core values. But what exactly are they?

Understanding these elements provides insight into the company's strategic direction and its commitment to stakeholders. Did you know that Owens Corning returned $638 million to shareholders through dividends and share repurchases in 2024? Keep reading to discover how their mission, vision, and values drive such performance and shape their approach to the market.

Owens Corning (OC) An Overview of

Owens Corning, established in 1938, has grown into a global leader in building and industrial materials. The company is renowned for its innovations in glass fiber technology. It develops and produces insulation, roofing, and fiberglass composites.

Owens Corning serves a broad customer base, including:

• Building owners
• Contractors
• Manufacturers

As of April 2025, Owens Corning continues to be a significant player in the construction and industrial sectors, driven by its commitment to sustainability and innovation. Find more about the company's financial standing and forecasts in this insightful article: Breaking Down Owens Corning (OC) Financial Health: Key Insights for Investors

Owens Corning's financial performance in its latest reporting period demonstrates strong growth and profitability. In 2024, the company reported record-breaking revenue, driven significantly by its roofing and insulation products. The company's net sales for fiscal year 2024 were $12.2 billion and net earnings were $1.2 billion or $12.37 per diluted share. Adjusted earnings were $1.3 billion, or $13.65 per diluted share. Adjusted EBITDA was $2.2 billion. These figures highlight Owens Corning's robust market position and effective operational strategies.

Owens Corning operates through three primary business segments:

• Insulation: This segment produces and sells insulation products and systems for residential, commercial, and industrial applications.
• Roofing: This segment manufactures and sells roofing materials and systems, including asphalt shingles and roofing components.
• Composites: This segment produces and sells glass fiber reinforcements used in a variety of applications, such as automotive, infrastructure, and consumer goods.

Owens Corning stands as a leader in the building materials industry. Its long-standing history of innovation, commitment to sustainability, and strong financial performance make it a key player in the global market. To understand the factors driving Owens Corning's success, further exploration into its mission, vision, and core values is essential.

Owens Corning (OC) Mission Statement

The mission statement of Owens Corning is 'Our Purpose: Building a Sustainable Future Through Material Innovation.' This mission reflects the company’s dedication to sustainability and innovation in the materials they produce. It serves as a guiding principle for the company's strategies and long-term objectives.

Owens Corning's mission statement is composed of three core components:

• Building a Sustainable Future
• Through
• Material Innovation

Building a Sustainable Future

Owens Corning emphasizes its commitment to sustainability, aiming to minimize environmental impact and promote responsible practices. This involves:

• Reducing Environmental Footprint: Implementing strategies to lower carbon emissions, decrease waste, and conserve natural resources.
• Sustainable Products: Developing and offering products that enhance energy efficiency, durability, and recyclability.
• Community Engagement: Participating in community initiatives and supporting social responsibility projects.

In 2024, Owens Corning reported a 26% reduction in greenhouse gas emissions intensity compared to its 2018 baseline, underscoring its progress toward environmental stewardship. The company invested $48 million in energy efficiency and emissions reduction projects. Breaking Down Owens Corning (OC) Financial Health: Key Insights for Investors

Through

This component underscores the method by which Owens Corning intends to achieve its overarching goal of sustainability. It acts as a bridge, connecting the vision of a sustainable future with the practical means of material innovation. It signifies that sustainability isn't just an end goal, but something that is pursued and achieved 'through' specific actions and strategies centered around material innovation.

Material Innovation

Owens Corning focuses on pioneering new materials and technologies that improve product performance and sustainability. This includes:

• Research and Development: Investing in R&D to create advanced materials with enhanced properties. In 2024, Owens Corning invested $114 million in research and development.
• Innovative Solutions: Developing solutions for various industries, such as construction, transportation, and energy, that enhance efficiency and reduce environmental impact.
• Product Enhancement: Continuously improving existing products to meet evolving customer needs and sustainability standards.

Owens Corning secured 145 patents related to material science and manufacturing processes in 2024, highlighting its dedication to innovation.

Owens Corning (OC) Vision Statement

Owens Corning's vision is centered on building a sustainable future through material innovation. This vision reflects the company's commitment to creating products and solutions that not only meet the needs of today but also contribute to a better world for future generations. The focus is on sustainability, innovation, and growth, ensuring that Owens Corning remains a leader in the building materials industry.

Here's a detailed exploration of the key components of Owens Corning's vision:

Sustainability at the Core

Sustainability is a fundamental aspect of Owens Corning’s vision. The company aims to minimize its environmental footprint while maximizing the positive impact of its products. This commitment is evident in their efforts to reduce greenhouse gas emissions, conserve resources, and develop eco-friendly products.

• Reducing Environmental Impact: Owens Corning has set ambitious goals to reduce its environmental impact. For example, their 2030 sustainability goals include significantly cutting greenhouse gas emissions and reducing waste. These targets align with global efforts to combat climate change and promote environmental stewardship.
• Eco-Friendly Products: The company is dedicated to developing products that are environmentally responsible. This includes using recycled materials, designing for durability and longevity, and ensuring that products contribute to energy efficiency in buildings.

Driving Innovation

Innovation is another critical pillar of Owens Corning’s vision. The company continuously invests in research and development to create new materials, technologies, and solutions that address evolving customer needs and market trends. This focus on innovation enables Owens Corning to stay ahead of the competition and drive growth.

• Investing in R&D: Owens Corning invests significantly in research and development to foster innovation. This investment supports the development of new products and technologies that enhance performance, sustainability, and value for customers.
• Meeting Customer Needs: By staying attuned to customer needs and market trends, Owens Corning can develop solutions that address specific challenges and opportunities. This customer-centric approach drives innovation and ensures that the company remains relevant and competitive.

Growth and Leadership

Owens Corning’s vision also encompasses growth and leadership in the building materials industry. The company aims to expand its market presence, strengthen its competitive position, and deliver value to shareholders through strategic investments and operational excellence.

• Expanding Market Presence: Owens Corning seeks to grow its business by expanding into new markets and geographies. This includes strategic acquisitions, partnerships, and organic growth initiatives that broaden the company’s reach and customer base.
• Delivering Shareholder Value: The company is committed to delivering long-term value to shareholders through consistent financial performance, disciplined capital allocation, and effective risk management. This focus on shareholder value ensures that Owens Corning remains a compelling investment opportunity.

Owens Corning's vision statement reflects a holistic approach to business, integrating sustainability, innovation, and growth to create long-term value for stakeholders. By focusing on these key areas, Owens Corning aims to build a better future through its products, operations, and partnerships. To get more insights into the company's investor profile, visit: Exploring Owens Corning (OC) Investor Profile: Who’s Buying and Why?

Owens Corning (OC) Core Values of

Owens Corning's core values are the fundamental beliefs upon which the company and its people operate. These values guide actions, decisions, and behaviors, shaping the company's culture and defining its character. The core values reflect what is truly important to Owens Corning as an organization. These values are:

• Safety
• Integrity
• Sustainability
• Innovation
• Inclusion

These values are essential to the company's success because they create a shared sense of purpose and direction for all employees.

Safety

Safety is paramount at Owens Corning, reflecting a deep commitment to protecting employees, customers, and communities. This commitment is embedded in every facet of the company’s operations, aiming for an environment where everyone returns home safely each day. Owens Corning continuously invests in safety training, equipment, and protocols, striving for zero incidents. This focus extends beyond regulatory compliance to proactive risk management and the promotion of a safety-first culture. For example, Owens Corning's Total Recordable Incident Rate (TRIR), a key metric for workplace safety, was 0.63 in 2023, reflecting their focus on safety. The company's efforts include comprehensive training programs, regular safety audits, and the implementation of advanced safety technologies.

Integrity

Integrity at Owens Corning means conducting business ethically and transparently. The company emphasizes honesty, respect, and fairness in all interactions, building trust with stakeholders. Owens Corning’s commitment to integrity is evident in its code of conduct, which guides employees in making ethical decisions. This value ensures that the company adheres to the highest standards of corporate governance and social responsibility. For instance, Owens Corning has a robust compliance program that includes regular training on ethical conduct and a confidential reporting system for any concerns. The company's dedication to integrity has earned it recognition as one of the World's Most Ethical Companies by Ethisphere Institute. Integrity is not just about avoiding legal issues but also about fostering a culture of trust and respect among employees, customers, and shareholders.

Sustainability

Owens Corning is dedicated to sustainability, focusing on reducing its environmental impact and promoting sustainable practices throughout its value chain. The company invests in innovative technologies and processes to minimize waste, conserve resources, and lower emissions. Owens Corning’s commitment to sustainability is demonstrated through its ambitious environmental goals, such as reducing greenhouse gas emissions and increasing the use of renewable energy. For example, Owens Corning aims to reduce its greenhouse gas emissions by 50% by 2030, compared to a 2018 baseline. In 2023, Owens Corning invested $119 million in research and development, a portion of which was allocated to sustainability initiatives. This includes developing products that enhance energy efficiency in buildings and reducing the environmental footprint of its manufacturing processes.

Innovation

Innovation is a driving force at Owens Corning, encouraging employees to develop new products, technologies, and solutions that meet the evolving needs of customers and address global challenges. The company invests significantly in research and development, fostering a culture of creativity and continuous improvement. Owens Corning’s commitment to innovation is evident in its product portfolio, which includes advanced materials and technologies that improve energy efficiency, durability, and sustainability. For instance, Owens Corning holds numerous patents for its innovative products and processes. In 2023, sales from products launched in the last five years represented approximately 30% of the company's total sales, highlighting the impact of its innovation efforts. The company also collaborates with universities and research institutions to stay at the forefront of technological advancements.

Inclusion

Inclusion is a core value at Owens Corning, emphasizing the importance of diversity, equity, and inclusion in creating a welcoming and supportive workplace. The company believes that a diverse workforce brings different perspectives and ideas, leading to better decision-making and innovation. Owens Corning’s commitment to inclusion is reflected in its diversity and inclusion programs, which aim to attract, retain, and develop employees from all backgrounds. For example, Owens Corning has employee resource groups that support various communities within the company, such as women, people of color, and LGBTQ+ individuals. The company also tracks its progress on diversity metrics and sets goals for increasing representation at all levels. In 2023, Owens Corning reported that 34% of its salaried employees in the U.S. were women, and 21% were people of color. The company's commitment to inclusion extends beyond its workforce to its suppliers and communities, promoting diversity and equity in all its business relationships.