10-Q · May 6, 2026
Owens Corning reported Q1 2026 results with a revenue of $2.58 billion and an EPS of -1.92, missing consensus estimates of $2.17 billion in revenue and $0.97 EPS. The revenue declined 9.5% compared to the prior year…
Earnings analysis · 10-Q
OC earnings analysis
Filed August 5, 2026 · Our reading of the company's report
The latest report
Owens Corning reported Q2 continuing-operations revenue of $2.756 billion and diluted EPS of $3.84, but adjusted EBITDA fell 6% to $660 million and adjusted EBITDA margin declined to 24% from 26%. Management's Q3…
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Owens Corning reported Q2 continuing-operations revenue of $2.756 billion and diluted EPS of $3.84, but adjusted EBITDA fell 6% to $660 million and adjusted EBITDA margin declined to 24% from 26%. Management's Q3 revenue outlook of $2.6 billion to $2.7 billion and 20% to 22% adjusted EBITDA margin signals sequential moderation. The supplied filing extract does not include the detailed segment table, balance sheet, or cash-flow statements, so segment revenue, working-capital movements, operating cash flow, and free cash flow are not reported here.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.84
What stood out
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Q2 revenue reached $2.756B and EPS was $3.84
Q2 continuing-operations revenue was $2.756 billion, while diluted EPS from continuing operations was $3.84.
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Capital return: $201M of share repurchases
Owens Corning repurchased 1.7 million shares for $201 million during the three months ended June 30, 2026. The company retained authorization for 10.8 million additional shares at quarter-end.
What to watch
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Adjusted EBITDA and margin contracted
Adjusted EBITDA declined 6% to $660 million, and adjusted EBITDA margin declined to 24% from 26%, indicating earnings pressure despite $2.756 billion of Q2 revenue.
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Q3 outlook implies sequential moderation
Q3 revenue is expected at approximately $2.6 billion to $2.7 billion, below Q2 revenue of $2.756 billion at the high end of the range; expected adjusted EBITDA margin is 20% to 22%, versus 24% in Q2.
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Capital spending remains substantial
The company expects approximately $800 million of 2026 capital additions, a meaningful cash-use commitment while it also repurchased $201 million of stock in Q2.
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No material risk-factor updates
Item 1A states there were no material changes to risks disclosed in the 2025 Form 10-K. The filing continues to identify exposures including construction activity, tariffs, energy and raw-material costs, demand, indebtedness, and liquidity.
Management's outlook
The company indicated Q3 2026 revenue of approximately $2.6 billion to $2.7 billion and adjusted EBITDA margin of approximately 20% to 22%. It retained 2026 corporate EBITDA expense outlook of $245 million to $255 million, interest expense of $255 million to $265 million, a 24% to 26% tax rate, and capital additions of approximately $800 million; no explicit comparison with a prior company outlook was provided.
Earlier filings 4
10-K · February 25, 2026
Owens Corning (OC) is reshaping into a focused building-products company after the 2024 Masonite acquisition and the announced divestiture of its Glass Reinforcements business. Reported 2025 net sales were $10.1 billion…
10-K · February 24, 2025
Owens Corning reported net sales of $11.0 billion in 2024 and is reshaping its portfolio after the May 15, 2024 $3.2 billion acquisition of Masonite and a February 13, 2025 definitive agreement to sell its global glass…
10-Q · November 6, 2024
Owens Corning reported quarterly revenue of $3,046 million (up $567 million, +22.9% vs. Q3 2023) and gross margin of $908 million (29.8% of sales). Operating income rose to $509 million but diluted EPS fell slightly to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.