Solar Alliance announces closing private placement

Financial Performance: Owens Corning Inc. reported a 23% year-over-year growth in fourth-quarter net sales to $2.84 billion, surpassing expectations, with adjusted EPS at $3.22 and operating cash flow totaling $676 million.

Future Outlook: The company anticipates strong performance in the first quarter of 2025, projecting mid-20% revenue growth from continuing operations and an EBITDA margin in the low-20% range, while also planning significant capital additions.

Third-Quarter Financial Performance: Owens Corning Inc. reported a 23% year-over-year increase in net sales to $3.046 billion, slightly surpassing expectations, with adjusted EPS rising to $4.38 and operating cash flow totaling $699 million.

Future Outlook: The company anticipates a challenging market environment but expects around 20% net sales growth in Q4, driven by portfolio adjustments and the addition of revenue from its Doors segment, while forecasting mid-teens EBIT margin and about 20% EBITDA margin.

Private Placement Completion: Solar Alliance Energy Inc. has successfully closed the third tranche of its non-brokered private placement, raising C$50,000 from the sale of 1,000,000 units at C$0.05 each, contributing to total gross proceeds of C$700,000 from the offering.

Use of Proceeds and Regulatory Compliance: The funds will be used for general corporate purposes, and the offering is subject to necessary approvals from the TSX Venture Exchange and other regulatory authorities, with securities issued not being subject to a hold period under Canadian laws.