Quarterly ResultMay 6, 2026, 06:14 AM
Owens Corning Q1 Diluted EPS $0.47; Net Sales Down 10.5%; GR Divestment Loss
AI Summary
Owens Corning reported a significant decline in its first-quarter 2026 financial results from continuing operations. Net sales decreased by 10.5% to $2.265 billion, and diluted EPS from continuing operations fell by 84.1% to $0.47. The company also recognized a pre-tax loss of $182 million related to an amendment to the Glass Reinforcements (GR) business divestment agreement, which closed on April 30, 2026.
Key Highlights
- Net sales from continuing operations decreased 10.5% to $2.265 billion.
- Diluted EPS from continuing operations fell 84.1% to $0.47.
- Operating income from continuing operations declined 70.5% to $120 million.
- Recognized a $182 million pre-tax loss from the GR business divestment amendment.
- Net cash flow used for operating activities worsened to $(154) million from $(49) million.
- Roofing segment net sales decreased 14.3% to $960 million; EBITDA fell 30.4% to $231 million.
- Insulation segment net sales decreased 4.6% to $867 million; EBITDA fell 25.8% to $167 million.
- Declared dividends of $0.79 per share, up from $0.69 per share.