Owens Corning

Owens Corning announced an expansion of its Board of Directors from nine to ten members, with the election of Michael J. DeVito as a director, effective September 16, 2026. Mr. DeVito has been deemed independent and will serve on the Audit Committee and the Finance and Technology Committee. His extensive background includes serving as CEO of Freddie Mac and holding senior leadership positions at Wells Fargo's home lending business. He currently sits on the board of NVR, Inc. Mr. DeVito will participate in the standard compensation arrangements for non-management directors.

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.

Owens Corning reported strong second-quarter 2026 results from continuing operations, with net sales of $2.8 billion and diluted EPS of $3.84. The company generated robust operating cash flow of $398 million and free cash flow of $199 million, while returning $264 million to shareholders. Strategic highlights include the completion of its glass reinforcements business sale, exceeding synergy targets, and a key management appointment, positioning the company for continued growth and performance.

Owens Corning announced significant leadership changes, appointing Jonathan M. Collins as Executive Vice President, Chief Financial Officer, effective August 10, 2026. Mr. Collins, previously CFO at Clarivate Plc, will receive an annual base salary of $775,000, a target annual cash incentive of 100% of his base salary, and an initial long-term incentive target of $2.75 million for 2027. He will also receive initial equity awards totaling $4.5 million and a $500,000 sign-on bonus. Concurrently, Todd W. Fister was promoted to President and Chief Operating Officer, and retention awards of $1 million each were granted to Nicolas Del Monaco and Rachel Marcon.

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.

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%.

Owens Corning announced an additional loss on the sale of its global glass reinforcements business (GR Business) due to an amendment to the definitive agreement. The company will recognize an additional loss on sale of approximately $140 million, primarily resulting from a decrease in the agreed purchase price and changes in other net assets. This amendment was made on April 14, 2026, due to changing market conditions.