Owens Corning (OC) finally seems to be sick of being talked about solely as an insulation company and is taking to the airwaves to change the perception. Good
For almost a year now we have been talking here about OC’s diversifying its earnings away from the US housing market.
It seems that now finally the MSM may have taken notice. Witness CEO Mike Thalman’s interview with Jim Cramer. While reader here know I am no fan of Cramer, I will have to admit he does a great job in this piece.
This was an interesting take from Thalman, “We would expect in the future that not having an energy-efficient home will start to impact resale values,” Thaman said. “It will start to impact the ability for you to sell your house.” With what is happening to SUV’s, the argument can be made.
Even though Owens is still tied to US housing and that portion of earnings are suffering, its diversification into faster growing composites business will buffer it is the present and when housing does turn, vault earnings forwards as growth there show no signs of slowing anytime soon.
Disclosure (“none” means no position):long OC
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