DivestmentAug 5, 2026, 06:13 AM
Owens Corning Completes GR Business Divestment; Q2 Net Sales $2.76B
AI Summary
Owens Corning completed the sale of its Glass Reinforcements (GR) business on April 30, 2026, for $370 million, resulting in a $175 million pre-tax loss for the six months ended June 30, 2026, due to revised transaction terms. For the second quarter, net sales slightly increased to $2.76 billion, while net earnings attributable to Owens Corning decreased to $226 million, and diluted EPS fell to $2.80.
Key Highlights
- Completed Glass Reinforcements business divestment on April 30, 2026.
- Divestment resulted in $175M pre-tax loss for six months ended June 30, 2026.
- Q2 2026 Net Sales rose to $2.76B from $2.75B year-over-year.
- Q2 2026 Net Earnings attributable to Owens Corning fell to $226M from $363M year-over-year.
- Q2 2026 Diluted EPS decreased to $2.80 from $4.25 year-over-year.
- Q2 2026 Roofing segment sales were $1.31B, Insulation $971M, Doors $513M.
- Declared Q2 2026 dividend of $0.79 per share, up from $0.69 year-over-year.
- Purchased $202M in treasury stock during Q2 2026.
Price Impact
More from OC