Owens Corning loses $248M from continuing operations
Owens Corning's 2026 outlook includes approximately $800 million in capital additions and $255 million to $265 million in interest expense.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Owens Corning (OC) reported third-quarter 2026 net sales of $2.489 billion, down 7% from $2.684 billion a year earlier. Net loss attributable to Owens Corning from continuing operations was $248 million, versus a $495 million loss; diluted EPS was $(3.15), and adjusted diluted EPS was $2.44, compared with $3.67. Adjusted EBITDA was $489 million, or 20% of sales, versus $638 million and 24%. Results included $476 million of non-cash, pre-tax impairment charges related to the Doors business.
Operating cash flow was $813 million and free cash flow was $622 million, compared with $918 million and $752 million; both figures include discontinued operations. The company returned $337 million to shareholders, including $275 million to repurchase 1.9 million shares and $62 million in dividends, and reduced debt by $299 million.
For fourth-quarter 2026, Owens Corning expects revenue of $2.0 billion to $2.2 billion and an enterprise adjusted EBITDA margin of approximately 10% to 12%. It cited residential-market pressures, limited significant storm activity, higher input and delivery costs, seasonality and incremental downtime associated with weaker volumes.
1 point · 0 major1 major · 6 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointInsulation net sales rose 6% to $1.001 billion.
Negative
- Major pointThe Doors business had $476 million in non-cash, pre-tax impairment charges. 5.1% of market cap
- Moderate pointConsolidated net sales fell 7% to $2.489 billion.
- Moderate pointAdjusted EBITDA was $489 million, versus $638 million a year earlier.
- Moderate pointOperating cash flow was $813 million, versus $918 million a year earlier.
- Moderate pointRoofing net sales declined 16% to $1.042 billion.
- Moderate pointDoors net sales declined 11% to $483 million.
Filing Explained
Net leverage was 2.5 times.
The 8-K furnishes Owens Corning’s third-quarter results.
The company defines net debt as total debt less cash, and net leverage as net debt divided by last-twelve-month adjusted EBITDA; its 2.5x figure is within its stated 2x-to-3x target range.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Net sales: $2.489 billion; $2.684 billion in 2025
Net loss attributable to Owens Corning from continuing operations: $248 million loss; $495 million loss in 2025
Adjusted EBITDA: $489 million; $638 million in 2025
+5 more
8 metrics
Net sales
$2.489 billion; $2.684 billion in 2025
Third quarter 2026; down 7% year over year
Net loss attributable to Owens Corning from continuing operations
$248 million loss; $495 million loss in 2025
Third quarter
Adjusted EBITDA
$489 million; $638 million in 2025
Third quarter; 20% and 24% of net sales, respectively
Adjusted diluted EPS
$2.44 per share; $3.67 per share in 2025
Third quarter
Operating cash flow
$813 million; $918 million in 2025
Third quarter; includes discontinued operations
Free cash flow
$622 million; $752 million in 2025
Third quarter; includes discontinued operations
Fourth-quarter revenue outlook
$2.0 billion to $2.2 billion
Fourth quarter 2026
Fourth-quarter enterprise adjusted EBITDA margin outlook
Approximately 10% to 12%
Fourth quarter 2026
Key Terms
Adjusted EBITDA, Free cash flow, Net leverage, Effective Tax Rate on Adjusted Earnings, +1 more
5 terms
Adjusted EBITDA financial
"enterprise adjusted EBITDA margin of 20%"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Free cash flow financial
"defines free cash flow as net cash flow provided by operating activities"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Net leverage financial
"net leverage as net debt divided by adjusted EBITDA"
Net leverage measures how many years it would take for a company to pay off its outstanding debt using its annual operating cash flow, after subtracting cash on hand from total debt. Think of it like a household’s mortgage balance minus savings divided by yearly income; a lower number means the company is in a safer position to handle debt, while a higher number signals greater financial risk and potential pressure on profits or growth.
Effective Tax Rate on Adjusted Earnings financial
"Effective Tax Rate on Adjusted Earnings | 24% to 26%"
Goodwill impairment financial
"Goodwill impairment | 366"
Goodwill impairment occurs when a company’s valued reputation or brand strength, known as goodwill, is found to be worth less than previously recorded on its financial statements. This usually happens when the company's performance declines or market conditions change, signaling that the expected benefits from acquisitions or brand value are no longer as strong. It matters to investors because it can indicate that a company's assets are less valuable than initially thought, potentially affecting its overall financial health.
Earnings Snapshot
Net sales: $2.489 billion · Guidance included
Third quarter 2026
Net sales
$2.489 billion
Down 7% from $2.684 billion in third-quarter 2025
Net loss attributable to Owens Corning from continuing operations
$248 million loss
Compared with a $495 million loss in third-quarter 2025
Adjusted EBITDA
$489 million
Compared with $638 million in third-quarter 2025
Diluted EPS
$(3.15) per share
Compared with $(5.93) per share in third-quarter 2025
Adjusted diluted EPS
$2.44 per share
Compared with $3.67 per share in third-quarter 2025
Operating cash flow
$813 million
Compared with $918 million in third-quarter 2025
Free cash flow
$622 million
Compared with $752 million in third-quarter 2025
Guidance
For fourth-quarter 2026, revenue of $2.0 billion to $2.2 billion and an enterprise adjusted EBITDA margin of approximately 10% to 12%.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did OC's roofing, insulation, and doors segments perform in Q3 2026?
Roofing reported $1.042 billion in net sales and $299 million in EBITDA, with a 29% EBITDA margin, versus $1.240 billion, $423 million and 34% a year earlier. Insulation reported $1.001 billion in net sales, $215 million in EBITDA and a 21% margin, compared with $941 million, $212 million and 23%. Doors reported $483 million in sales, $25 million in EBITDA and a 5% margin, versus $545 million, $56 million and 10%.
What is OC's fourth-quarter 2026 outlook?
Owens Corning expects revenue of $2.0 billion to $2.2 billion and an enterprise adjusted EBITDA margin of approximately 10% to 12%. The outlook reflects higher input and delivery costs, seasonality and incremental downtime due to weaker market volumes; existing home sales, discretionary remodeling activity and residential new construction are expected to remain under pressure.
What are OC's 2026 financial outlook assumptions?
The 2026 outlook includes general corporate EBITDA expenses of $235 million to $245 million, interest expense of $255 million to $265 million, an effective tax rate on adjusted earnings of 24% to 26%, approximately $800 million in capital additions and approximately $680 million in depreciation and amortization. Cash taxes are anticipated to be lower.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________
Form 8-K
______________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 4, 2026
______________________________________
(Exact name of registrant as specified in its charter)
______________________________________
One Owens Corning Parkway
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
______________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | |||||
| ☐ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ||||
| Item 2.02 | Results of Operations and Financial Condition | ||||
On November 4, 2026, Owens Corning (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2026.
Exhibit 99.1 contains certain financial measures that are considered "non-GAAP financial measures" as defined in the federal securities laws and contains an explanation and, as applicable, a reconciliation of these non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States.
The information in Item 2.02 of this Current Report is being furnished pursuant to General Instructions B.2 of Form 8-K and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 2.02 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933.
| Item 9.01 | Financial Statements and Exhibits | ||||
(d) Exhibits.
| Exhibit No. | Description | ||||
| 99.1 | Press Release, dated November 4, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Owens Corning | ||||||||
| November 4, 2026 | By: | /s/ Jonathan M. Collins | ||||||
| Jonathan M. Collins | ||||||||
| Executive Vice President, Chief Financial Officer (Principal Financial Officer) | ||||||||
Exhibit 99.1
Owens Corning Announces Third-Quarter 2026 Results
TOLEDO, Ohio – November 4, 2026 - Owens Corning (NYSE: OC), a branded building products leader, today reported third-quarter 2026 results.
•Reported Net Sales of $2.5 Billion, a 7% Decrease from Prior Year
•Generated Net Earnings Margin of (10)% and Adjusted EBITDA Margin of 20%
•Delivered Diluted EPS of $(3.15) and Adjusted Diluted EPS of $2.44, which excludes the impact of Non-Cash, Pre-Tax Impairment Charges of $476 Million related to the Doors Business
•Produced Operating Cash Flow of $813 Million and Free Cash Flow of $622 Million
•Returned $337 Million to Shareholders through Dividends and Share Repurchases; Reduced Debt by $299 Million
“During the quarter, challenging residential market conditions were further impacted by a second consecutive year of weak storm activity and rapidly rising transportation and input material costs. Despite these pressures, our team demonstrated disciplined commercial and operational execution, delivering a resilient margin and strong cash flow,” said Chair and Chief Executive Officer Brian Chambers. “Our performance reflects the fundamentally stronger company we have built, and we remain focused on executing our strategy and leveraging our unique OC AdvantagesTM to create additional long-term value for our customers and shareholders.”
Enterprise Performance from Continuing Operations
($ in millions, except per share amounts) | Third-Quarter | Nine Months | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||
| Net Sales | $2,489 | $2,684 | $7,510 | $7,961 | ||||||||||
| Net (Loss) Earnings Attributable to OC | (248) | (495) | 100 | 94 | ||||||||||
| As a Percent of Net Sales | (10)% | (18)% | 1% | 1% | ||||||||||
| Adjusted EBITDA | 489 | 638 | 1,518 | 1,906 | ||||||||||
| As a Percent of Net Sales | 20% | 24% | 20% | 24% | ||||||||||
| Diluted EPS | (3.15) | (5.93) | 1.25 | 1.10 | ||||||||||
| Adjusted Diluted EPS | 2.44 | 3.67 | 7.58 | 10.81 | ||||||||||
Operating Cash Flow1 | 813 | 918 | 1,057 | 1,196 | ||||||||||
Free Cash Flow1 | 622 | 752 | 434 | 629 | ||||||||||
1 Reflects full company performance inclusive of discontinued operations.
Enterprise Highlights
•Owens Corning maintained a high level of safety performance with a recordable incident rate (RIR) of 0.81.
•Todd Fister was promoted to President and Chief Operating Officer, leading efforts to unlock efficiencies, strengthen execution, and accelerate organic growth across the enterprise. Jonathan Collins joined Owens Corning in August as Executive Vice President and Chief Financial Officer, succeeding Fister and bringing deep financial leadership experience and a proven background in scaling rapidly evolving businesses.
•Owens Corning placed second on the 100 Best Corporate Citizens list, marking the company's ninth consecutive year among the top 10. The list recognizes outstanding corporate responsibility performance among the largest publicly traded companies in the U.S.
Cash Returned to Shareholders
•In the third quarter, Owens Corning returned $337 million to shareholders. The company repurchased 1.9 million shares of common stock for $275 million and paid a quarterly cash dividend of $62 million. The company also reduced debt by $299 million and maintained net leverage within the targeted range of 2x to 3x.
“I am excited to partner with Brian and the leadership team as we build on Owens Corning’s strong foundation and invest in the long-term growth of the company,” said Executive Vice President and Chief Financial Officer Jonathan Collins. “In the third quarter, we continued to demonstrate our ability to generate attractive cash flow and returned significant capital to shareholders. Looking ahead, our financial approach remains grounded in disciplined capital allocation, maintaining a strong balance sheet, and preserving the financial flexibility to advance our strategic priorities.”
Third-Quarter Business Performance
•The company continued to deliver resilient margin performance. For the third quarter, Owens Corning generated an enterprise adjusted EBITDA margin of 20%.
| Segment Results ($ in millions) | Net Sales | EBITDA | EBITDA Margin | |||||||||||||||||
Q3 2026 | Q3 2025 | Q3 2026 | Q3 2025 | Q3 2026 | Q3 2025 | |||||||||||||||
| Roofing | $1,042 | $1,240 | $299 | $423 | 29% | 34% | ||||||||||||||
| Insulation | 1,001 | 941 | 215 | 212 | 21% | 23% | ||||||||||||||
| Doors | 483 | 545 | 25 | 56 | 5% | 10% | ||||||||||||||
Fourth-Quarter Outlook
•The key economic factors that impact the company’s business are residential repair activity, residential remodeling activity, U.S. housing starts, and commercial construction activity.
•Owens Corning expects existing home sales, discretionary remodeling activity, and residential new construction to remain under pressure. In Roofing, a second consecutive year without significant storm activity and related distribution destocking are expected to weigh on near-term demand. Non-residential construction in North America is expected to continue to show pockets of strength, and conditions in the company's core European markets are anticipated to remain stable.
•Owens Corning anticipates significant input and delivery cost inflation to result in incremental expense, with minimal price expectations in the quarter.
•For the fourth-quarter 2026, Owens Corning expects revenue of $2.0 billion to $2.2 billion. The company expects to generate an enterprise adjusted EBITDA margin of approximately 10% to 12%. This reflects the impacts of significantly higher inflation and transportation cost increases, as well as fourth-quarter seasonality and incremental downtime due to weaker market volumes.
“While we are navigating a challenging market in the near-term, we have confidence in OC’s long-term growth and performance through the cycle,” said President and Chief Operating Officer Todd Fister. “Actions we are taking today to further improve our cost position, strengthen our commercial capabilities, and increase the earnings potential of the company are positioning OC to create significant value over time.”
Current 2026 Financial Outlook
| General Corporate EBITDA Expenses | $235 million to $245 million | ||||
| Interest Expense | $255 million to $265 million | ||||
| Effective Tax Rate on Adjusted Earnings | 24% to 26%* | ||||
| Capital Additions | Approximately $800 million | ||||
| Depreciation and Amortization | Approximately $680 million | ||||
* Cash taxes are anticipated to be lower.
Third-Quarter 2026 Conference Call and Presentation
Wednesday, November 4, 2026
9 a.m. Eastern Time
All Callers
•Live dial-in telephone number: U.S. and Canada 1.833.461.5787; and other international locations +1.585.542.9983
•Meeting code: 401280488 (Please dial in 10-15 minutes before conference call start time)
•Live webcast: https://events.q4inc.com/attendee/401280488
•Webcast replay will be available for one year using the above link.
About Owens Corning
Owens Corning is a branded building products leader with three complementary market‑leading businesses providing roofing, insulation, and doors primarily for residential markets in North America and Europe. The company operates with an integrated go‑to‑market strategy and a unique set of OC Advantages™ – including its iconic brand, unparalleled commercial strength, leading technology, and winning cost position – to help customers win and grow in the market. Owens Corning is committed to helping build better and achieve more through winning partnerships, leading performance, and engaging people. Founded in 1938 and headquartered in Toledo, Ohio, Owens Corning is listed on the New York Stock Exchange (NYSE: OC). For more information, visit www.owenscorning.com.
Use of Non-GAAP Measures
Owens Corning uses non-GAAP measures in its earnings press release that are intended to supplement investors' understanding of the company's financial information. These non-GAAP measures include EBITDA from continuing operations, adjusted EBITDA from continuing operations, adjusted earnings from continuing operations, adjusted diluted earnings per share attributable to Owens Corning common stockholders ("adjusted EPS") from continuing operations and free cash flow. When used to report historical financial information, reconciliations of these non-GAAP measures to the corresponding GAAP measures are included in the financial tables of this press release. Specifically, see Table 2 for adjusted EBITDA from continuing operations, Table 3 for adjusted earnings from continuing operations and adjusted EPS from continuing operations, and Table 8 for free cash flow.
For purposes of internal review of Owens Corning's year-over-year operational performance, management excludes from net earnings attributable to Owens Corning certain items it believes are not representative of ongoing operations. The non-GAAP financial measures resulting from these adjustments (including adjusted EBITDA from continuing operations, adjusted earnings from continuing operations and adjusted EPS from continuing operations) are used internally by Owens Corning for various purposes, including reporting results of operations to the Board of Directors, analysis of performance, and related employee compensation measures. Management believes that these adjustments result in a measure that provides a useful representation of its operational performance; however, the adjusted measures should not be considered in isolation or as a substitute for net earnings attributable to Owens Corning as prepared in accordance with GAAP.
Net debt and net leverage are non-GAAP financial measures that management uses to assess liquidity, financial flexibility and leverage. The company defines net debt as total debt less cash and cash equivalents. The company defines net leverage as net debt divided by adjusted EBITDA from continuing operations for the last twelve months ("LTM"). LTM represents the results for the twelve-month period ended as of the applicable balance sheet date. Free cash flow is a non-GAAP liquidity measure used by investors, financial analysts and management to help evaluate the company's ability to generate cash to pursue opportunities that enhance shareholder value. The company defines free cash flow as net cash flow provided by operating activities, less cash paid for property, plant and equipment. Free cash flow is not a measure of residual cash flow available for discretionary expenditures due to the company's mandatory debt service requirements. Free cash flow is used internally by the company for various purposes, including reporting results of operations to the Board of Directors of the company and analysis of performance.
Management believes that these measures provide a useful representation of our operational performance and liquidity; however, the measures should not be considered in isolation or as a substitute for net cash flow provided by operating activities or net earnings attributable to Owens Corning as prepared in accordance with GAAP.
When the company provides forward-looking expectations for non-GAAP measures, the most comparable GAAP measures and a reconciliation between the non-GAAP expectations and the corresponding GAAP measures are generally not available without unreasonable effort due to the variability, complexity and limited visibility of the adjusting items that would be excluded from the non-GAAP measures in future periods. The variability in timing and amount of adjusting items could have significant and unpredictable effect on our future GAAP results.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to risks, uncertainties and other factors and actual results may differ materially from those results projected in the statements. These risks, uncertainties and other factors include, without limitation: levels of residential and non-residential construction activity; demand for our products; industry and economic conditions including, but not limited to, supply chain disruptions, recessionary conditions, inflationary pressures, and interest rate and financial markets volatility; additional changes to tariff, trade or investment policies or laws by the
United States, or similar actions, including reciprocal actions, by foreign governments; availability and cost of energy and raw materials; competitive and pricing factors; relationships with key customers and customer concentration in certain areas; our ability to achieve expected synergies, cost reductions and/or productivity improvements; issues related to acquisitions, divestitures and joint ventures or expansions; climate change, weather conditions and storm activity; legislation and related regulations or interpretations in the United States or elsewhere; domestic and international economic and political conditions, policies or other governmental actions, as well as war and civil disturbance; uninsured losses or major manufacturing disruptions, including those from natural disasters, catastrophes, pandemics, theft or sabotage; environmental, product-related or other legal and regulatory liabilities, proceedings or actions; research and development activities and intellectual property protection; issues involving implementation and protection of information technology systems; foreign exchange and commodity price fluctuations; our level of indebtedness; our liquidity and the availability and cost of credit; the level of fixed costs required to run our business; levels of goodwill or other indefinite-lived intangible assets; loss of key employees and labor disputes or shortages; defined benefit plan funding obligations; and factors detailed from time to time in the company’s filings with the U.S. Securities and Exchange Commission. This information speaks as of November 4, 2026, and is subject to change. The company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Any distribution of this news release after that date is not intended and should not be construed as updating or confirming such information.
| Media Inquiries: | Investor Inquiries: | ||||||||||
| Megan James | Darren Garvin | ||||||||||
| mediarelations@owenscorning.com | investorrelations@owenscorning.com | ||||||||||
| 419.348.0768 | 419.248.7747 | ||||||||||
Owens Corning Company News / Owens Corning Investor Relations News
Table 1
Owens Corning and Subsidiaries
Consolidated Statements of Earnings
(unaudited)
(in millions, except per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||
| NET SALES | $ | 2,489 | $ | 2,684 | $ | 7,510 | $ | 7,961 | ||||||
| COST OF SALES | 1,874 | 1,927 | 5,592 | 5,621 | ||||||||||
| Gross margin | 615 | 757 | 1,918 | 2,340 | ||||||||||
| OPERATING EXPENSES | ||||||||||||||
| Marketing and administrative expenses | 239 | 240 | 749 | 764 | ||||||||||
| Science and technology expenses | 35 | 39 | 107 | 111 | ||||||||||
| Goodwill impairment | 366 | 780 | 366 | 780 | ||||||||||
| Intangible assets impairment | 77 | — | 77 | — | ||||||||||
| Loss on sale of business | — | 2 | — | 28 | ||||||||||
| Other expense, net | 50 | 23 | 169 | 72 | ||||||||||
| Total operating expenses | 767 | 1,084 | 1,468 | 1,755 | ||||||||||
| OPERATING (LOSS) EARNINGS | (152) | (327) | 450 | 585 | ||||||||||
| Non-operating expense | — | 1 | — | 1 | ||||||||||
| (LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST AND TAXES | (152) | (328) | 450 | 584 | ||||||||||
| Interest expense, net | 62 | 65 | 197 | 192 | ||||||||||
| (LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES | (214) | (393) | 253 | 392 | ||||||||||
| Income tax expense | 33 | 102 | 150 | 300 | ||||||||||
| Equity in net (loss) earnings of affiliates | (1) | — | (1) | 1 | ||||||||||
| NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS | (248) | (495) | 102 | 93 | ||||||||||
| Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax | (2) | 1 | (229) | (318) | ||||||||||
| NET LOSS | $ | (250) | $ | (494) | $ | (127) | $ | (225) | ||||||
| NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS | $ | (248) | $ | (495) | $ | 102 | $ | 93 | ||||||
| Net earnings (loss) attributable to noncontrolling interests | — | — | 2 | (1) | ||||||||||
| NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING | (248) | (495) | 100 | 94 | ||||||||||
| Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax | (2) | 1 | (229) | (318) | ||||||||||
| NET LOSS ATTRIBUTABLE TO OWENS CORNING | $ | (250) | $ | (494) | $ | (129) | $ | (224) | ||||||
| (LOSS) EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS | ||||||||||||||
| Basic - continuing operations | $ | (3.15) | $ | (5.93) | $ | 1.25 | $ | 1.11 | ||||||
| Basic - discontinued operations | $ | (0.03) | $ | 0.01 | $ | (2.87) | $ | (3.75) | ||||||
| Basic | $ | (3.18) | $ | (5.92) | $ | (1.62) | $ | (2.64) | ||||||
| Diluted - continuing operations | $ | (3.15) | $ | (5.93) | $ | 1.25 | $ | 1.10 | ||||||
| Diluted - discontinued operations | $ | (0.03) | $ | 0.01 | $ | (2.86) | $ | (3.73) | ||||||
| Diluted | $ | (3.18) | $ | (5.92) | $ | (1.61) | $ | (2.63) | ||||||
Table 2
Owens Corning and Subsidiaries
EBITDA Reconciliation Schedules
(unaudited)
Adjusting (expense) income items to EBITDA are shown in the table below:
| Three Months Ended | Nine Months Ended | |||||||||||||
| September 30, | September 30, | |||||||||||||
| (In millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Restructuring excluding depreciation | $ | (1) | $ | (7) | $ | (60) | $ | (19) | ||||||
| Acquisition-related integration costs excluding depreciation | — | (9) | (9) | (15) | ||||||||||
| Gains on sale of certain precious metals | 7 | 14 | 29 | 35 | ||||||||||
| Impairment of investments | (33) | — | (40) | — | ||||||||||
| Paroc marine recall | — | — | (33) | (2) | ||||||||||
| Gain (Loss) on sale of businesses | 2 | (2) | 6 | (28) | ||||||||||
| Goodwill impairment | (366) | (780) | (366) | (780) | ||||||||||
| Intangible assets impairment | (77) | — | (77) | — | ||||||||||
| Gain on sale of site (a) | — | — | 4 | — | ||||||||||
| Total adjusting items | $ | (468) | $ | (784) | $ | (546) | $ | (809) | ||||||
(a)This gain relates to the sale of a site that was part of a previous restructuring action in the Roofing segment.
The reconciliation from Net (loss) earnings from continuing operations attributable to Owens Corning to Adjusted EBITDA from continuing operations is shown in the table below:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (In millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING | $ | (248) | $ | (495) | $ | 100 | $ | 94 | ||||||
| Net earnings (loss) attributable to noncontrolling interests | — | — | 2 | (1) | ||||||||||
| NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS | (248) | (495) | 102 | 93 | ||||||||||
| Equity in net (loss) earnings of affiliates | (1) | — | (1) | 1 | ||||||||||
| Income tax expense | 33 | 102 | 150 | 300 | ||||||||||
| (LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES | (214) | (393) | 253 | 392 | ||||||||||
| Interest expense, net | 62 | 65 | 197 | 192 | ||||||||||
| (LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST AND TAXES | (152) | (328) | 450 | 584 | ||||||||||
| Less: Adjusting items from above | (468) | (784) | (546) | (809) | ||||||||||
| Depreciation & Amortization | 173 | 182 | 522 | 513 | ||||||||||
| ADJUSTED EBITDA FROM CONTINUING OPERATIONS | $ | 489 | $ | 638 | $ | 1,518 | $ | 1,906 | ||||||
| Net sales | $ | 2,489 | $ | 2,684 | $ | 7,510 | $ | 7,961 | ||||||
| ADJUSTED EBITDA as a % of Net sales | 20 | % | 24 | % | 20 | % | 24 | % | ||||||
Table 3
Owens Corning and Subsidiaries
EPS Reconciliation Schedules
(unaudited)
(in millions, except per share data)
A reconciliation from Net (loss) earnings from continuing operations attributable to Owens Corning to adjusted earnings from continuing operations and a reconciliation from diluted earnings from continuing operations per share to adjusted diluted earnings from continuing operations per share are shown in the tables below:
| Three Months Ended | Nine Months Ended | |||||||||||||
| September 30, | September 30, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||
RECONCILIATION TO ADJUSTED EARNINGS FROM CONTINUING OPERATIONS | ||||||||||||||
| NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING | $ | (248) | $ | (495) | $ | 100 | $ | 94 | ||||||
Adjustment to remove adjusting items and other adjustments (a) | 468 | 784 | 546 | 809 | ||||||||||
Adjustment to remove adjusting items for depreciation and amortization (b) | 3 | 16 | 15 | 25 | ||||||||||
Adjustment to remove tax (benefit)/expense on adjusting items and other adjustments (c) | (34) | (24) | (57) | (32) | ||||||||||
Adjustment to tax expense/(benefit) to reflect pro forma tax rate (d) | 3 | 25 | 4 | 26 | ||||||||||
ADJUSTED EARNINGS FROM CONTINUING OPERATIONS | $ | 192 | $ | 306 | $ | 608 | $ | 922 | ||||||
RECONCILIATION TO ADJUSTED DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS FROM CONTINUING OPERATIONS | ||||||||||||||
DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS | $ | (3.15) | $ | (5.93) | $ | 1.25 | $ | 1.10 | ||||||
| Adjustment to remove adjusting items and other adjustments (a) | 5.94 | 9.40 | 6.81 | 9.48 | ||||||||||
| Adjustment to remove adjusting items for depreciation and amortization (b) | 0.04 | 0.19 | 0.19 | 0.29 | ||||||||||
| Adjustment to remove tax (benefit)/expense on adjusting items and other adjustments (c) | (0.43) | (0.29) | (0.71) | (0.38) | ||||||||||
| Adjustment to tax expense/(benefit) to reflect pro forma tax rate (d) | 0.04 | 0.30 | 0.04 | 0.32 | ||||||||||
ADJUSTED DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS FROM CONTINUING OPERATIONS | $ | 2.44 | $ | 3.67 | $ | 7.58 | $ | 10.81 | ||||||
RECONCILIATION TO DILUTED SHARES OUTSTANDING | ||||||||||||||
Weighted average shares outstanding used for basic earnings per share | 78.7 | 83.4 | 79.9 | 84.7 | ||||||||||
Unvested restricted shares and performance shares | — | — | 0.3 | 0.6 | ||||||||||
Diluted shares outstanding | 78.7 | 83.4 | 80.2 | 85.3 | ||||||||||
| (a) | Please refer to Table 2 "EBITDA Reconciliation Schedules" for additional information on adjusting items. | ||||
| (b) | To remove the impact of accelerated depreciation and amortization charges for restructuring projects and impairments which are excluded from adjusted earnings from continuing operations. | ||||
| (c) | The tax impact of adjusting items is based on our expected tax accounting treatment and rate for the jurisdiction of each adjusting item. | ||||
| (d) | To compute adjusted earnings from continuing operations, we apply a full year pro forma effective tax rate to each quarter presented. For 2026, we have used a full year pro forma effective tax rate of 25%, which is the mid-point of our 2026 effective tax rate guidance of 24% to 26%. For comparability, in 2025, we have used an effective tax rate of 25%, which was our 2025 effective tax rate excluding the adjusting items referenced in (a), (b) and (c). | ||||
Table 4
Owens Corning and Subsidiaries
Consolidated Balance Sheets
(unaudited)
(in millions, except per share data)
| September 30, | December 31, | |||||||
| ASSETS | 2026 | 2025 | ||||||
| CURRENT ASSETS | ||||||||
| Cash and cash equivalents | $ | 179 | $ | 345 | ||||
| Receivables, less allowance of $3 at September 30, 2026 and $4 at December 31, 2025 | 1,173 | 937 | ||||||
| Inventories | 1,464 | 1,472 | ||||||
| Other current assets | 206 | 165 | ||||||
| Current assets of discontinued operations | — | 426 | ||||||
| Total current assets | 3,022 | 3,345 | ||||||
| Property, plant and equipment, net | 4,204 | 4,170 | ||||||
| Operating lease right-of-use assets | 465 | 507 | ||||||
| Goodwill | 1,288 | 1,679 | ||||||
| Intangible assets, net | 2,341 | 2,535 | ||||||
| Deferred income taxes | 15 | 10 | ||||||
| Other non-current assets | 512 | 480 | ||||||
| Non-current assets of discontinued operations | — | 254 | ||||||
| TOTAL ASSETS | $ | 11,847 | $ | 12,980 | ||||
| LIABILITIES AND EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Accounts payable | $ | 1,373 | $ | 1,257 | ||||
| Current operating lease liabilities | 86 | 83 | ||||||
| Short-term debt | 102 | 50 | ||||||
| Long-term debt - current portion | 539 | 435 | ||||||
| Other current liabilities | 576 | 613 | ||||||
| Current liabilities of discontinued operations | — | 222 | ||||||
| Total current liabilities | 2,676 | 2,660 | ||||||
| Long-term debt, net of current portion | 4,250 | 4,687 | ||||||
| Pension plan liability | 35 | 38 | ||||||
| Other employee benefits liability | 92 | 96 | ||||||
| Non-current operating lease liabilities | 406 | 450 | ||||||
| Deferred income taxes | 861 | 737 | ||||||
| Other liabilities | 326 | 323 | ||||||
| Non-current liabilities of discontinued operations | — | 96 | ||||||
| Total liabilities | 8,646 | 9,087 | ||||||
| OWENS CORNING STOCKHOLDERS’ EQUITY | ||||||||
| Preferred stock, par value $0.01 per share (a) | — | — | ||||||
| Common stock, par value $0.01 per share (b) | 1 | 1 | ||||||
| Additional paid-in capital | 4,266 | 4,256 | ||||||
| Accumulated earnings | 4,144 | 4,463 | ||||||
| Accumulated other comprehensive deficit | (374) | (437) | ||||||
| Cost of common stock in treasury (c) | (4,874) | (4,430) | ||||||
| Total Owens Corning stockholders’ equity | 3,163 | 3,853 | ||||||
| Noncontrolling interests | 38 | 40 | ||||||
| Total equity | 3,201 | 3,893 | ||||||
| TOTAL LIABILITIES AND EQUITY | $ | 11,847 | $ | 12,980 | ||||
(a)10 shares authorized; none issued or outstanding at September 30, 2026 and December 31, 2025
(b)400 shares authorized; 135.5 issued and 77.1 outstanding at September 30, 2026; 135.5 issued and 80.2 outstanding at December 31, 2025
(c)58.4 shares at September 30, 2026 and 55.3 shares at December 31, 2025
Table 5
Owens Corning and Subsidiaries
Consolidated Statements of Cash Flows
(unaudited)
(in millions)
| Nine Months Ended September 30, | ||||||||
| 2026 | 2025 | |||||||
| NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES | ||||||||
| Net Loss | $ | (127) | $ | (225) | ||||
| Adjustments to reconcile net losses to cash provided by operating activities: | ||||||||
| Loss on discontinued operations | 183 | 409 | ||||||
| Depreciation and amortization | 522 | 513 | ||||||
| Loss on sale of business | — | 28 | ||||||
| Deferred income taxes | 96 | 100 | ||||||
| Stock-based compensation expense | 49 | 54 | ||||||
| Goodwill impairment | 366 | 780 | ||||||
| Intangible assets impairment | 77 | — | ||||||
| Gains on sale of certain precious metals | (29) | (35) | ||||||
| Other adjustments to reconcile net earnings to cash from operating activities | 20 | (24) | ||||||
| Change in operating assets and liabilities | (73) | (372) | ||||||
| Pension fund contribution | (5) | (5) | ||||||
| Payments for other employee benefits liabilities | (8) | (7) | ||||||
| Other | (14) | (20) | ||||||
| Net cash flow provided by operating activities | 1,057 | 1,196 | ||||||
| NET CASH FLOW USED FOR INVESTING ACTIVITIES | ||||||||
| Cash paid for property, plant and equipment | (623) | (567) | ||||||
| Proceeds from sale of assets or affiliates | 76 | 63 | ||||||
| Proceeds from sale of Glass Reinforcements business, net of cash divested | 364 | — | ||||||
| Other | 11 | (9) | ||||||
| Net cash flow used for investing activities | (172) | (513) | ||||||
| NET CASH FLOW USED FOR FINANCING ACTIVITIES | ||||||||
| Proceeds from senior revolving credit and receivables securitization facilities | — | 329 | ||||||
| Payments on senior revolving credit and receivables securitization facilities | — | (329) | ||||||
| Net proceeds from commercial paper | 50 | 40 | ||||||
| Payments on long-term debt | (400) | (29) | ||||||
| Dividends paid | (189) | (176) | ||||||
| Purchases of treasury stock | (506) | (583) | ||||||
| Finance lease payments | (34) | (34) | ||||||
| Other | 2 | (1) | ||||||
| Net cash flow used for financing activities | (1,077) | (783) | ||||||
| Effect of exchange rate changes on cash | (28) | 82 | ||||||
| Net decrease in cash, cash equivalents and restricted cash | (220) | (18) | ||||||
| Cash, cash equivalents and restricted cash, beginning of period | 407 | 369 | ||||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $ | 187 | $ | 351 | ||||
Table 6
Owens Corning and Subsidiaries
Segment Information
(unaudited)
Roofing
The table below provides a summary of net sales and EBITDA for the Roofing segment:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (In millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Net sales | $ | 1,042 | $ | 1,240 | $ | 3,315 | $ | 3,663 | ||||||
| % change from prior year | -16 | % | 2 | % | -10 | % | 3 | % | ||||||
| EBITDA | $ | 299 | $ | 423 | $ | 971 | $ | 1,212 | ||||||
| EBITDA as a % of net sales | 29 | % | 34 | % | 29 | % | 33 | % | ||||||
Insulation
The table below provides a summary of net sales and EBITDA for the Insulation segment:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (In millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Net sales | $ | 1,001 | $ | 941 | $ | 2,839 | $ | 2,784 | ||||||
| % change from prior year | 6 | % | -7 | % | 2 | % | -5 | % | ||||||
| EBITDA | $ | 215 | $ | 212 | $ | 595 | $ | 662 | ||||||
| EBITDA as a % of net sales | 21 | % | 23 | % | 21 | % | 24 | % | ||||||
Doors
The table below provides a summary of net sales and EBITDA for the Doors segment:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (In millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Net sales | $ | 483 | $ | 545 | $ | 1,471 | $ | 1,639 | ||||||
| % change from prior year | -11 | % | -5 | % | -10 | % | 85 | % | ||||||
| EBITDA | $ | 25 | $ | 56 | $ | 116 | $ | 199 | ||||||
| EBITDA as a % of net sales | 5 | % | 10 | % | 8 | % | 12 | % | ||||||
Table 7
Owens Corning and Subsidiaries
Corporate, Other and Eliminations
(unaudited)
Corporate, Other and Eliminations
The table below provides a summary of EBITDA for the Corporate, Other and Eliminations category:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (In millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Restructuring excluding depreciation | $ | (1) | $ | (7) | $ | (60) | $ | (19) | ||||||
| Acquisition-related integration costs excluding depreciation | — | (9) | (9) | (15) | ||||||||||
| Gains on sale of certain precious metals | 7 | 14 | 29 | 35 | ||||||||||
| Impairment of investments | (33) | — | (40) | — | ||||||||||
| Paroc marine recall | — | — | (33) | (2) | ||||||||||
| Gain (Loss) on sale of businesses | 2 | (2) | 6 | (28) | ||||||||||
| Goodwill impairment | (366) | (780) | (366) | (780) | ||||||||||
| Intangible assets impairment | (77) | — | (77) | — | ||||||||||
| Gain on sale of site (a) | — | — | 4 | — | ||||||||||
| General corporate expense and other | (50) | (53) | (164) | (167) | ||||||||||
| EBITDA | $ | (518) | $ | (837) | $ | (710) | $ | (976) | ||||||
(a)This gain relates to the sale of a site that was part of a previous restructuring action in the Roofing segment.
Table 8
Owens Corning and Subsidiaries
Free Cash Flow Reconciliation Schedule
(unaudited)
The reconciliation from net cash flow provided by operating activities to free cash flow is shown in the table below:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (In millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES | $ | 813 | $ | 918 | $ | 1,057 | $ | 1,196 | ||||||
| Less: Cash paid for property, plant and equipment | (191) | (166) | (623) | (567) | ||||||||||
| FREE CASH FLOW | $ | 622 | $ | 752 | $ | 434 | $ | 629 | ||||||
Table 9
Owens Corning and Subsidiaries
Net Leverage Reconciliation Schedules
(unaudited)
(in millions)
Adjusting (expense) income items to EBITDA are shown in the table below:
| Twelve Months Ended | Nine Months Ended | Last Twelve Months (LTM) Ended | ||||||||||||
| December 31, | September 30, | September 30, | ||||||||||||
| 2025 | 2026 | 2025 | 2026 | |||||||||||
| (In millions) | (A) | (B) | (C) | (A) + (B) - (C) | ||||||||||
| Restructuring excluding depreciation | $ | (27) | $ | (60) | $ | (19) | $ | (68) | ||||||
| Acquisition-related integration costs excluding depreciation | (26) | (9) | (15) | (20) | ||||||||||
| Gains on sale of certain precious metals | 45 | 29 | 35 | 39 | ||||||||||
| Impairment of investments | — | (40) | — | (40) | ||||||||||
| Paroc marine recall | (2) | (33) | (2) | (33) | ||||||||||
| Gain (Loss) on sale of businesses | (30) | 6 | (28) | 4 | ||||||||||
| Goodwill impairment | (1,135) | (366) | (780) | (721) | ||||||||||
| Intangible assets impairment | (39) | (77) | — | (116) | ||||||||||
| Gain on sale of site (a) | — | 4 | — | 4 | ||||||||||
| Total adjusting items (b) | $ | (1,214) | $ | (546) | $ | (809) | $ | (951) | ||||||
(a)This gain relates to the sale of a site that was part of a previous restructuring action in the Roofing segment.
(b)For fiscal year 2025, please refer to our 2025 Form 10-K filing in the "Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") From Continuing Operations" section of Management's Discussion and Analysis for additional information on these adjusting items. For the nine months ended September 30, 2025 and September 30, 2026, please refer to our Form 10-Q filing for the third quarter of 2026 in the "Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") From Continuing Operations" section of Management's Discussion and Analysis for additional information on these adjusting items.
The reconciliation from Net (loss) earnings from continuing operations attributable to Owens Corning to Adjusted EBITDA from continuing operations is shown in the table below:
| Twelve Months Ended | Nine Months Ended | Last Twelve Months (LTM) Ended | ||||||||||||
| December 31, | September 30, | September 30, | ||||||||||||
| 2025 | 2026 | 2025 | 2026 | |||||||||||
| (In millions) | (A) | (B) | (C) | (A) + (B) - (C) | ||||||||||
| Net (loss) earnings from continuing operations attributable to Owens Corning | $ | (188) | $ | 100 | $ | 94 | $ | (182) | ||||||
| Net earnings (loss) attributable to noncontrolling interests | — | 2 | (1) | 3 | ||||||||||
| Net (loss) earnings from continuing operations | (188) | 102 | 93 | (179) | ||||||||||
| Equity in net earnings of affiliates | 1 | (1) | 1 | (1) | ||||||||||
| Income tax expense | 293 | 150 | 300 | 143 | ||||||||||
| Earnings from continuing operations before taxes | 104 | 253 | 392 | (35) | ||||||||||
| Interest expense, net | 256 | 197 | 192 | 261 | ||||||||||
| Earnings from continuing operations before interest and taxes | 360 | 450 | 584 | 226 | ||||||||||
| Less: Adjusting items (a) | (1,214) | (546) | (809) | (951) | ||||||||||
| Depreciation and amortization | 694 | 522 | 513 | 703 | ||||||||||
| Adjusted EBITDA from continuing operations | $ | 2,268 | $ | 1,518 | $ | 1,906 | $ | 1,880 | ||||||
(a)Management excludes from Net (loss) earnings from continuing operations attributable to Owens Corning certain items it believes are not representative of ongoing operations. Please refer to the previous table above for explanation of adjusting items.
The reconciliation from 'Total debt to Net (loss) earnings from continuing operations attributable to Owens Corning' to Net leverage is shown in the table below:
| September 30, | |||||
| 2026 | |||||
| Short-term debt | $ | 102 | |||
| Long-term debt - current portion | 539 | ||||
| Long-term debt, net of current portion | 4,250 | ||||
| Total debt | 4,891 | ||||
| Less: Cash and cash equivalents | (179) | ||||
| NET DEBT | $ | 4,712 | |||
| LTM Net (loss) earnings from continuing operations attributable to Owens Corning (a) | $ | (182) | |||
| Total debt / LTM Net (loss) earnings from continuing operations attributable to Owens Corning | (26.9) | ||||
| LTM Adjusted EBITDA from continuing operations (a) | $ | 1,880 | |||
| Net leverage | 2.5 | ||||
(a)Please refer to previous table above for the reconciliation of net earnings from continuing operations attributable to Owens Corning to Adjusted EBITDA from continuing operations for the last twelve months ended September 30, 2026.