Owens Corning Delivers Strong Second-Quarter Results from Continuing Operations

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

• Reported Net Sales from Continuing Operations of $2.7 Billion, a 10% Increase from Prior Year, including the Impact of the Doors Business, Acquired in May 2024
• Generated Net Earnings Margin from Continuing Operations of 12% and Adjusted EBITDA Margin from Continuing Operations of 26%
• Delivered Diluted EPS from Continuing Operations of $3.91 and Adjusted Diluted EPS from Continuing Operations of $4.21
• Produced Operating Cash Flow of $327 Million and Free Cash Flow of $129 Million
• Returned$279 Million to Shareholdersthrough Dividends and Share Repurchases

“Our second quarter results continue to demonstrate the strength of our business and resiliency of our earnings to outperform the market despite more challenging near-term conditions. This is the result of the structural changes and strategic choices we have made to reshape the new Owens Corning,” said Chair and Chief Executive Officer Brian Chambers. “As we progress through the year, we remain focused on leveraging our unique operating model to strengthen our market positions, sustain our financial performance, and create value for our customers and shareholders.”

Enterprise Strategy Highlights

• In the second quarter, Owens Corning maintained a high level of safety performance with a recordable incident rate (RIR) of 0.60.
• Owens Corning hosted its 2025 Investor Day in May, during which the executive leadership team highlighted the durable changes made to the company to deliver its long-term financial targets, leveraging a unique operating model and renewed enterprise strategy to sustain high EBITDA margins and generate revenue growth. A replay of the 2025 Investor Day webcast and copy of the slide presentations are available on the company’s investor relations website.
• Owens Corning continued to sharpen its geographic focus as it completed the sale of its building materials business in China and Korea in July, which represented annual revenue of approximately $130 million. The transaction included six insulation manufacturing facilities in China and a roofing manufacturing facility in Korea.
• Aligned with the company’s strategy to strengthen its market leadership in building products, the previously announced divestiture of Owens Corning’s glass reinforcements business is making good progress. The transaction remains targeted for completion in 2025, subject to regulatory approvals.

Cash Returned to Shareholders

• In May, the Owens Corning Board of Directors approved a new share repurchase authorization for up to 12 million shares of the company’s common stock. The action reaffirms Owens Corning’s capital allocation strategy and reflects the success of its disciplined commercial and operational execution to deliver consistent and sustainable performance in dynamic market conditions. The company also committed to return $2 billion of cash to shareholders over 2025 and 2026.
• Owens Corning returned $279 million to shareholders through dividends and share repurchases during the second quarter. Year-to-date through the first half, total shareholder return was nearly $440 million. The company paid a quarterly cash dividend of $59 million and repurchased 1.6 million shares of common stock for $220 million. At the end of the quarter, 16.0 million shares were available for repurchase under the current authorizations.

“Owens Corning demonstrated strong execution in a softening North America residential market, delivering a milestone 20th consecutive quarter of 20% or better adjusted EBITDA margins. With confidence in our cash generation, we returned significant cash to shareholders – nearly $440 million in the first half – and remain on track to deliver our commitment of $2 billion in returns over the next two years,” said Executive Vice President and Chief Financial Officer Todd Fister. “Even in current market conditions, we expect to maintain strong EBITDA margins and shareholder returns while investing to accelerate long-term growth and incremental cash generation.”

Other Notable Highlights

• Owens Corning was named to the Fortune 500 list for the 71 ^st consecutive year. This annual list ranks the largest U.S. companies based on revenue. Owens Corning has appeared on the list every year since its inception.

Second-Quarter Business Performance from Continuing Operations

• Owens Corning reported 10% year-over-year sales growth in the second quarter, with an adjusted EBITDA margin of 26%. This marks the company’s 20th consecutive quarter of delivering adjusted EBITDA margins of 20% or higher. Results were driven by commercial strength and operational execution in mixed markets, including positive price/cost.

Third-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 market demand for non-discretionary roofing repair activity to decline in the third quarter driven by lower storm activity versus prior year, with demand for its products outpacing the market. The company expects residential new construction and remodeling to remain challenged. Non-residential construction activity in North America is expected to remain relatively stable, while the company expects market conditions in Europe to gradually improve in the second half.
• Owens Corning expects minimal third-quarter impact from tariff exposure as a result of long-term and short-term mitigation efforts, based on current tariff policies. In the third quarter, the company anticipates reducing its approximately $50 million tariff exposure to a net impact of about $10 million, primarily in the Doors business.
• For the third-quarter, 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 be slightly down to in-line with prior year, approximately $2.7 billion to $2.8 billion. The enterprise is expected to generate adjusted EBITDA margin from continuing operations of approximately 23% to 25%.

For full 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