Quarterly ResultMay 6, 2026, 06:14 AM
Owens Corning Q1 Sales Down 10% to $2.3B; Completes Portfolio Shift
AI Summary
Owens Corning reported first-quarter 2026 results with net sales from continuing operations decreasing 10% to $2.3 billion and diluted EPS falling 84% to $0.47. The company completed the sale of its glass reinforcements business, a strategic move to focus on branded building products, expecting $280 million in cash proceeds. Despite current market conditions, the company highlighted resilient performance and strong margins in Roofing and Insulation, and provided a Q2 2026 outlook with expected revenue of $2.6 billion to $2.7 billion and an Adjusted EBITDA margin of 20% to 22%.
Key Highlights
- Completed the sale of its glass reinforcements business on April 30, 2026, generating $280 million in cash proceeds.
- Q1 Net Sales from continuing operations decreased 10% to $2.3 billion compared to prior year.
- Q1 Diluted EPS from continuing operations was $0.47, an 84% decrease from $2.95 in the prior year.
- Q1 Adjusted Diluted EPS from continuing operations was $1.22, down 59% from $2.97 in the prior year.
- Q1 Operating Cash Outflow was $154 million, and Free Cash Outflow was $387 million.
- Returned $63 million to shareholders through a cash dividend in the first quarter.
- For Q2 2026, revenue from continuing operations is expected to be $2.6 billion to $2.7 billion.
- Q2 2026 Adjusted EBITDA margin from continuing operations is anticipated to be 20% to 22%.