MarketPR
EARNINGSNetflix cites monetization focus amid falling viewing time reportsOct 20EARNINGSOppenheimer Raises S&P 500 2026 EPS Forecast to $365Oct 20EMNEastman Chemical adopts amended bylaws with new 2027 meeting deadlinesOct 20EARNINGSHoneywell margin outlook raises to 22 percentOct 20DEALSFreddy Peralta joins Bob Gibson in rare 10-start pitching streakOct 20BANXArrowMark Financial increases revolving credit line to $102 millionOct 20BEAGREDLattice, Bold Eagle confidentially file S-4 for Nasdaq listingOct 20REGULATORYWNBA Finals teams skip anthem in Game 2Oct 20MACROHousing starts and pending sales hit record lows as Fed weighs hikesOct 20MBOTMicrobot Medical Secures New Patents, Expands Global IP PortfolioOct 20EARNINGSNetflix cites monetization focus amid falling viewing time reportsOct 20EARNINGSOppenheimer Raises S&P 500 2026 EPS Forecast to $365Oct 20EMNEastman Chemical adopts amended bylaws with new 2027 meeting deadlinesOct 20EARNINGSHoneywell margin outlook raises to 22 percentOct 20DEALSFreddy Peralta joins Bob Gibson in rare 10-start pitching streakOct 20BANXArrowMark Financial increases revolving credit line to $102 millionOct 20BEAGREDLattice, Bold Eagle confidentially file S-4 for Nasdaq listingOct 20REGULATORYWNBA Finals teams skip anthem in Game 2Oct 20MACROHousing starts and pending sales hit record lows as Fed weighs hikesOct 20MBOTMicrobot Medical Secures New Patents, Expands Global IP PortfolioOct 20
NewsEarnings

Owens Corning (OC) Posts $3.93 Adjusted EPS on $2.8 Billion Q2 Revenue as Q3 Margin Guidance Steps Down

Adjusted earnings of $3.93 per diluted share and $660 million in adjusted EBITDA gave Owens Corning (NYSE: OC) a clean second-quarter 2026 print, with total revenue of $2.8 billion and a 24% adjusted EBITDA margin. The next confirmable milestone: a Q3 consolidated EBITDA margin that management guided to approximately 20% to 22%, as a $40 million Iran-related cost headwind and a mid-to-high single-digit roofing revenue decline compress the tape.

By Renata OstrowskiNewsroomAugust 9, 20262 min read
Share

Key takeaways

  • Owens Corning posted second-quarter 2026 adjusted earnings of $3.93 per diluted share and $660 million in adjusted EBITDA on $2.8 billion in total revenue, a 24% adjusted EBITDA margin.
  • Management guided Q3 consolidated EBITDA margin to approximately 20% to 22%, pressured by a $40 million Iran-related cost headwind and a mid-to-high single-digit roofing revenue decline.
  • Free cash flow rose to $199 million from $129 million a year earlier, and the company returned $264 million to shareholders in the quarter ($200 million buybacks, $64 million dividends).
  • By segment, roofing sales were about $1.3 billion (34% margin), insulation revenue rose 4% to $971 million (22% margin), and doors revenue fell 7% to $513 million (11% margin).
  • Owens Corning ended Q2 with $1.8 billion of liquidity and a debt-to-EBITDA ratio of 2.4 times, within its 2-to-3-times target range.

Adjusted earnings of $3.93 per diluted share and $660 million in adjusted EBITDA gave Owens Corning (NYSE: OC) a clean second-quarter 2026 print, with total revenue of $2.8 billion and a 24% adjusted EBITDA margin. The next confirmable milestone: a Q3 consolidated EBITDA margin that management guided to approximately 20% to 22%, as a $40 million Iran-related cost headwind and a mid-to-high single-digit roofing revenue decline compress the tape.

The numbers behind the Q2 print

Free cash flow rose to $199 million from $129 million a year earlier. Owens Corning returned $264 million to shareholders in the quarter, split between $200 million of share repurchases and $64 million in dividends, bringing first-half capital returns to $327 million. The quarter's adjusted EBITDA included a $25 million benefit from tariff refunds, about half of which landed in the doors segment with the remainder spread across the enterprise. Chief Financial and Operating Officer Todd Fister said more than $20 million in additional tariff refunds remain pending, though timing is uncertain and those amounts were excluded from Q3 guidance.

Iran-related net cost inflation totaled $30 million in Q2. Fister said that figure rises to $40 million in Q3 as costs move through inventory, with roofing expected to absorb the largest share.

Segment results and third-quarter guidance

Roofing sales of approximately $1.3 billion were up slightly from the prior year. Segment EBITDA fell $16 million to $441 million at a 34% margin. Distributor inventories are "a little heavier than normal," CEO Brian Chambers said, with second-half demand increasingly dependent on storm activity and regional trends. Management guided Q3 roofing revenue to decline by a mid-to-high single-digit percentage, with asphalt roofing market shipments expected to drop by a high single-digit percentage because volume was pulled forward ahead of announced price increases.

Insulation revenue rose 4% to $971 million, with segment EBITDA of $213 million at a 22% margin. Non-residential demand drew support from data centers, healthcare, interiors, and U.S. reindustrialization. Q3 insulation revenue is expected to grow by a mid-single-digit percentage, with North American non-residential up by a low-double-digit percentage.

Doors revenue declined 7% to $513 million, reflecting divestitures in late 2025 and the first quarter of 2026 that reduced quarterly revenue by about $30 million. Segment EBITDA was $57 million at an 11% margin. Run-rate cost synergies in doors reached $135 million, above the original $125 million two-year target, and Owens Corning identified another $75 million of structural cost improvements across the enterprise.

Balance sheet and what to watch

Owens Corning ended Q2 with $1.8 billion of liquidity, including $271 million in cash and $1.5 billion available under bank credit facilities. The debt-to-EBITDA ratio was 2.4 times, within the company's 2-to-3-times target range. Management plans to retire $400 million of senior notes due in Q3 using commercial paper.

Jonathan Collins joins as chief financial officer on Aug. 10. Fister moves to president and chief operating officer. Full-year capital additions are guided at approximately $800 million, with a new Kansas City Fiberglas line expected to begin production next year and an Alabama roofing plant targeting capacity by mid-2028.

Related reading

About this story

Filed by the newsroom of MarketPR on August 9, 2026. Source: finance.yahoo.com. Indicative figures are not investment advice.

←Back to the news index

More from the Newsroom

All stories →
01Earnings

Netflix cites monetization focus amid falling viewing time reports

Netflix has identified improved monetization as a primary operational focus in its third-quarter earnings report. This strategic pivot was released against a backdrop of reports indicating declining user viewing time.

Miles Broadbent2 min read
02Earnings

Oppenheimer Raises S&P 500 2026 EPS Forecast to $365

Oppenheimer Asset Management raised its full-year earnings-per-share estimate for the S&P 500 to $365 from $305, a move that implies nearly 36% year-on-year growth. The brokerage made the adjustment on Monday as the third-quarter reporting…

Desmond Choi2 min read
03Earnings

Honeywell margin outlook raises to 22 percent

Honeywell International management raised its fiscal 2026 organic sales growth forecast to 3% to 4% on the second-quarter earnings call, up from a previous range of 2% to 3%. The company also expects to exit the year with a segment margin…

Grant Halloran2 min read

Frequently asked

What is Owens Corning's Q3 margin guidance and why is it stepping down?

Management guided Q3 consolidated EBITDA margin to approximately 20% to 22%, down due to a $40 million Iran-related cost headwind and a mid-to-high single-digit percentage roofing revenue decline.

Why is roofing revenue expected to decline in Q3?

Q3 roofing revenue is guided to fall a mid-to-high single-digit percentage, with asphalt roofing market shipments expected to drop a high single-digit percentage because volume was pulled forward ahead of announced price increases.

What leadership changes are taking place at Owens Corning?

Jonathan Collins joins as chief financial officer on Aug. 10, while Todd Fister moves to president and chief operating officer.

How did the doors segment perform and why did its revenue drop?

Doors revenue declined 7% to $513 million with segment EBITDA of $57 million at an 11% margin, reflecting divestitures in late 2025 and Q1 2026 that reduced quarterly revenue by about $30 million.

What are Owens Corning's major capital investment plans?

Full-year capital additions are guided at approximately $800 million, including a new Kansas City Fiberglas line expected to start production next year and an Alabama roofing plant targeting capacity by mid-2028.