Owens Corning (OC)

Owens Corning reported second-quarter 2026 net sales from continuing operations of $2.8 billion on 5 August, in line with the prior year 1. Diluted earnings per share from continuing operations were $3.84, against $3.91 a year earlier 1.

Continuing operations leave out the glass reinforcements business, which the company sold on April 30, 2026 1. What remains sells roofing, insulation and doors, mostly for homes in North America and Europe 1.

Roofing sales were $1,313 million and Insulation $971 million, while Doors slipped to $513 million from $554 million 1. Chief executive Brian Chambers said the results show the strength of the reshaped company 1.

For the third quarter the company expects revenue of about $2.6 billion to $2.7 billion, slightly below the prior year 1. It also expects about $40 million of extra costs from inflation tied to the Iran conflict 1.

The open question is the third-quarter report, scheduled for 4 November before the New York Stock Exchange opens 6.

Owens Corning was founded in 1938 and is based in Toledo, Ohio 3. Its 2025 net sales were $10.1 billion 3.

On February 9, 2024 the company announced it would buy door maker Masonite for $133.00 per share in cash, an implied transaction value of about $3.9 billion 4.

The company called doors a new growth platform 4. The deal closed on May 15, 2024, for a total purchase price of $3.2 billion 3.

The same announcement began a strategic review of the glass reinforcements business, which made glass fiber for wind energy, infrastructure, industrial, transportation and consumer uses 43.

On February 13, 2025 the company agreed to sell that business for about $436 million, less costs to sell 3. Its results have been shown as discontinued operations since January 1, 2025, leaving three segments: Roofing, Insulation and Doors 3.

In its latest annual report the company said sales rose because of a full year of Doors revenue and higher selling prices in Roofing and Insulation, partly offset by lower volumes in all three segments 3.

In 2025 it recorded a $1,135 million pre-tax non-cash charge, because the Doors unit's carrying value exceeded its fair value 3. A further $39 million charge hit a Doors tradename 3.

On April 14, 2026 the company amended the glass sale after a $110 million cut in the purchase price and the end of $225 million of planned seller financing 2. It closed on April 30, 2026 with proceeds of $370 million 2.

Roofing

Roofing makes laminate asphalt shingles, the layered shingles that cover most homes, plus roofing components and composite lumber 3. It sells mainly through distributors, home centers and lumberyards in the United States, and is the second largest producer of asphalt roofing shingles there, by industry reports and company estimates 3.

Roofing was about 43% of segment sales in 2025 3. Second-quarter 2026 Roofing sales were $1,313 million with an EBITDA margin of 34% (earnings before interest, taxes, depreciation and amortization, as a share of sales) 1.

Insulation

Insulation sells batts, loosefill and spray foam for homes, plus pipe, duct and foam products for commercial and industrial buildings, under brands such as Owens Corning PINK, FOAMULAR, FOAMGLAS and Paroc 3. Buyers are installers, home centers, lumberyards, retailers and distributors in the United States, Canada, Europe and Latin America 3.

Insulation was about 36% of 2025 segment sales 3. In the second quarter its sales were $971 million against $934 million, with an EBITDA margin of 22% against 24% 1.

Doors

Doors, built on the Masonite purchase, makes interior and exterior doors of wood, glass, fiberglass and metal, plus frames and hardware, for the United States, Canada and the United Kingdom 3. The company says it is one of North America's largest door producers 3.

Doors was about 21% of 2025 segment sales 3. Second-quarter sales were $513 million against $554 million, and the EBITDA margin fell to 11% from 14% 1.

Plants and people

At the end of 2025 the company ran 143 manufacturing facilities, 103 of them owned, and its Toledo headquarters is an owned building of about 400,000 square feet 3. Research is centered on a Science and Technology Center on about 500 acres near Granville, Ohio 3.

It has about 25,000 employees in 31 countries 3. Brian Chambers has been board chair, president and chief executive since April 2020 3.

Jonathan Collins became chief financial officer effective August 10, 2026, and Todd Fister moved to president and chief operating officer 1. On September 16, 2026 the board grew from nine to ten directors with the election of Michael DeVito, a former chief executive of Freddie Mac 5.

Rivals and problems

Roofing competes with other asphalt shingle makers in the United States 3. The company warned that the goodwill left on the Doors unit, $380 million at the end of 2025, remains at risk of a further write-down 3.

For the third quarter it expects about $40 million of extra costs from inflation tied to the Iran conflict 1.

The umbrella, in words

The main brands are Owens Corning PINK for fiberglass insulation, FOAMULAR and FOAMGLAS for foam and cellular glass insulation, and Paroc for stone wool 3. The Doors segment came from the 2024 purchase of all Masonite shares, which the company owns 3.

Exhibit 21.1 of the annual report lists subsidiaries as of December 31, 2025, among them AS Paroc in Estonia and Endura Products, LLC in the United States 7.

For the third quarter the company expects revenue of about $2.6 billion to $2.7 billion and an adjusted EBITDA margin of about 20% to 22% 1. It expects heavier second-quarter roofing stocking to affect third-quarter distributor purchases 1.

For 2026 it guides to capital additions of about $800 million, depreciation and amortization of about $680 million, and interest expense of $255 million to $265 million 1. It puts general corporate EBITDA expenses at $245 million to $255 million and the tax rate on adjusted earnings at 24% to 26% 1.

The company says it remains committed to returning $2 billion to shareholders over 2025 and 2026 through dividends and share repurchases 1. At the end of the second quarter, 10.8 million shares were available for repurchase 1.

It says it expects an additional $75 million of structural cost improvements through network optimization and operational efficiencies 1. The third-quarter results are due on 4 November 2026 6.