Owens Corning (NYSE:OC) Q1 2024 Earnings Call Transcript

So that’s going to be a continued I think opportunity for us to improve our laminate mix, improve our duration mix, and provide our contractors and distributors with great product going forward and then from a financial standpoint that gives us a better margin profile and we’ll continue to be, I think a tailwind in our mixed story as we go forward.

Operator: And our next question is from Reuben Garner of the Benchmark Company.

Reuben Garner: Good morning, everyone. Thanks for taking my question. I wanted to ask, you reference fiberglass in your kind of investments or looking at investments in upgrading and potentially adding capacity. Where does spray foam set in your longer-term plans, can you update us on your acquisition from a couple years ago, how that’s been performing and kind of what your thoughts are for spray foam versus fiberglass on a go forward basis? Thank you.

Todd Fister: Sure, Reuben. I appreciate the question. Thank you. Yes, I mean, spray foam, we continue to grow the volume of our spray foam business that we acquired Natural Polymers, which had some really nice differentiation in the market for spray foam around how they’re positioned. Yes, I’d say over a long period of time, we’ve seen spray foam grow for really specific building applications where it’s a good product, and we see those building practices increasing over time, particularly the growth in the Southeast with unvented attics where spray foam over a long period of time has taken share from some other materials. So we’re going to participate in that growth. I mean, we’re going to participate in the overall shifts that we see in some regions for some applications where spray foam is a really good product.

We also remain really bullish around fiberglass and the value proposition we offer with our fiberglass materials, with our mineral wool materials, with our XPS foam materials, we’re in a really unique position in the market as participating in multiple materials. And we’re able to serve our customers with the best materials for the best building applications. And that really remains our focus with spray foam and all the other products that we’ve got in the portfolio.

Operator: Thank you. We have no further questions, so I’ll turn the call back over to Brian Chambers for any closing remarks.

Brian Chambers: Thanks, Lydia. I’d like to thank everyone for making time to join us on today’s call and for your ongoing interest in Owens Corning. We look forward to speaking to you again on our second quarter call. Have a good rest of the day. Thanks.

Operator: This concludes today’s call. Thank you for joining. You may now disconnect your line.