Owens Corning Delivers Strong Revenue and Margin Performance from Continuing Operations in the First Quarter

Owens Corning, a building products leader, reported first-quarter 2025 results.

• Reported Net Sales from Continuing Operations of $2.5 Billion, a 25% Increase from Prior Year, with Newly Acquired Doors Business Contributing $540 Million in Revenue
• Generated Net Earnings Margin from Continuing Operations of 10% and Adjusted EBITDA Margin from Continuing Operations of 22%
• Delivered Diluted EPS from Continuing Operations of $2.95 and Adjusted Diluted EPS from Continuing Operations of $2.97
• Produced Operating Cash Outflow of $49 Million and Free Cash Outflow of $252 Million
• Returned $159 Million to Shareholders through Dividends and Share Repurchases

“Owens Corning delivered its 19th consecutive quarter of 20% or better adjusted EBITDA margins, demonstrating the durability of our earnings and the power of the enterprise to outperform in any operating environment. The structural changes we have made to the company, combined with the capabilities of our team and the strength of our commercial and operational execution, continue to generate significant value for our customers and shareholders,” said Chair and Chief Executive Officer Brian Chambers. “On May 14, I look forward to hosting our 2025 Investor Day where we will share more about our long-term strategy and financial goals for the new OC.”

Enterprise Strategy Highlights

• In the first quarter, Owens Corning maintained a high level of safety performance with a recordable incident rate (RIR) of 0.54. This includes the Doors segment, which is now integrated into company safety reporting.
• Owens Corning will host its 2025 Investor Day at its world headquarters in Toledo, Ohio, on Wednesday, May 14. Chair and Chief Executive Officer Brian Chambers and Chief Financial Officer Todd Fister will be joined by members of the company’s senior management team to discuss Owens Corning’s long-term strategy, enterprise capabilities, and financial goals through 2028. The event will be live streamed and include a question-and-answer session.
• The previously announced divestiture of Owens Corning’s glass reinforcements business, which primarily services industrial applications, remains on track to close in 2025. This transaction strengthens Owens Corning as a market leader in building products.
• As a result of the definitive agreement to sell glass reinforcements, the business is now reported as discontinued operations. The composition of the company’s reportable segments has been reorganized into Roofing, Insulation, and Doors.

Cash Returned to Shareholders

• Owens Corning returned $159 million to shareholders through dividends and share repurchases during the first quarter. The company paid a quarterly cash dividend of $59 million and repurchased 0.7 million shares of common stock for $100 million. At the end of the quarter, 5.7 million shares were available for repurchase under the current authorization.

“In the first quarter, Owens Corning grew earnings and delivered strong margin performance despite a growing number of external challenges. We have created multiple paths to generate consistently strong results,” said Executive Vice President and Chief Financial Officer Todd Fister. “This year, we will execute on capital-efficient investments to strengthen our market-leading positions and drive long-term growth, while sustaining our structurally improved EBITDA margins, delivering strong cash generation, and continuing to return cash to shareholders.”

Other Notable Highlights

• On April 22, Owens Corning published its 2024 Sustainability Report, Building Better Together, which outlined the company’s ongoing commitment to sustainability and innovation in support of its business objectives and meeting customer needs. This marks the 19th sustainability report from Owens Corning, which published its first report in 2006.

First-Quarter Business Performance from Continuing Operations

• In the first quarter, the company grew revenue and adjusted EBITDA. Owens Corning delivered sales growth of 25% versus prior year, with adjusted EBITDA margin of 22%. Results were driven by strong commercial and operational execution in mixed markets, including positive price/cost. The first quarter marks the 19th consecutive quarter of the company delivering 20% or better adjusted EBITDA margins.

Second-Quarter 2025 Outlook for Continuing Operations

• The key economic factors that impact the company’s business are residential repair activity, residential remodeling activity, U.S. housing starts, and commercial construction activity.
• Owens Corning expects near-term demand for nondiscretionary repair activity to remain solid through the second quarter, while residential new construction and remodeling is expected to remain soft. Non-residential construction activity in North America is starting to face some headwinds. In Europe, the company expects market conditions to gradually improve throughout the year.
• Owens Corning expects minimal second-quarter impact from tariff exposure as a result of long-term and short-term mitigation efforts. In the second quarter, the company anticipates reducing its approximately $50 million exposure for tariffs in effect to a net impact of $10 million, primarily in the Doors business.
• For the second-quarter 2025, Owens Corning expects to continue delivering strong results in a mixed market environment, based on the structural improvements made to the company and its market-leading positions. It expects revenue from continuing operations to grow high-single-digit percent, compared to prior year’s revenue of $2.5 billion adjusted for glass reinforcements being moved to discontinued operations. The enterprise is expected to generate adjusted EBITDA margin from continuing operations of low-to-mid 20 percent.

For the full first quarter results, click here.

About Owens Corning

Owens Corning is a building products leader committed to building a sustainable future through material innovation. Our products provide durable, sustainable, energy-efficient solutions that leverage our unique capabilities and market-leading positions to help our customers win and grow. We are global in scope, human in scale with more than 25,000 employees in 31 countries dedicated to generating value for our customers and shareholders and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2024 sales of $11.0 billion. For more information, visit www.owenscorning.com.

Contact:

Amber Wohlfarth – Vice President, Corporate Affairs and Investor Relations – (419) 248-5639 – Amber.Wohlfarth@owenscorning.com

Source: Owens Corning