Owens Corning : Q1 2026 Earnings Report Presentation
OC
Published on 05/06/2026 at 10:30 am EDT
RESULTS
Brian Chambers | Chair & Chief Executive Officer
Todd Fister | Chief Financial & Operating Officer
May 6, 2026 | Q1 2026
COMPANY HIGHLIGHTS
Brian Chambers
FINANCIAL RESULTS
Todd Fister
BUSINESS OUTLOOK
Brian Chambers
QUESTIONS AND DISCUSSION
All
($ in millions)1
Q1 2026
Q1 2025
Net sales
2,265
2,530
Adjusted EBITDA
369
565
Adjusted EBITDA as % of net sales
16%
22%
Safer Together operating framework drove improved safety results
Returned $63mm to shareholders through a cash dividend, reflecting ongoing commitment to return $1b of cash to shareholders in 2026
Delivered strong margins on lower market volumes, highlighting the strength of the enterprise and structural improvements
Leveraging the OC AdvantagesTM across complementary businesses to create value for both customers and
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Five-year financial performance2
2022 2023 2024 2025 LTM
30%
25%
20%
15%
10%
5%
0%
shareholders
Adj. EBITDA as % of net sales
($ in millions, except per share data)1
Q1 2026
Q1 2025
Net sales
2,265
2,530
Net sales growth
(10%)
25%
Net (loss) earnings attributable to OC
38
255
Net (loss) earnings attributable to OC as % of net sales
2%
10%
Adjusted EBITDA
369
565
Adjusted EBITDA as % of net sales
16%
22%
EPS (diluted)
$0.47
$2.95
Adjusted earnings
99
256
Adjusted EPS (diluted)
$1.22
$2.97
Continuing operations
Capital allocation strategy remains focused on consistently generating strong free cash flow, returning
$1b to shareholders in 2026, and maintaining an investment grade balance sheet, while executing on business strategies to grow the company
First-Quarter 2026:
Cash Generation and Return
Free cash outflow of $387mm1
Returned $63mm of cash to shareholders through a cash dividend
At the end of Q1, 12.5mm shares were available for repurchase under the current authorizations
Internal Investment
Capital additions of $210mm
Return on capital was 10% for the last twelve months2
Liquidity
Exited Q1 with net debt-to-adjusted EBITDA3 of 2.5x, within our targeted range of 2x to 3x
Maintained liquidity of $1.8b, consisting of $272mm in cash and $1.5b of availability on bank debt
facilities
Includes discontinued operations
Refer to Appendix A for additional details
($ in millions)1
Q1 2026
Q1 2025
Net sales
960
1,120
EBITDA
231
332
EBITDA as % of net sales
24%
30%
Delivered first-quarter revenue of
$960mm, down 14% from prior year
Generated $231mm of EBITDA with
24% EBITDA margin
Durable margin performance reflects the strength of the business
$5,000
$4,000
$3,000
$2,000
$1,000
$0
Five-year financial performance2
2022 2023 2024 2025 LTM
35%
30%
25%
20%
15%
10%
5%
0%
($ in millions)1
Q1 2026
Q1 2025
Net sales
867
909
EBITDA
167
225
EBITDA as % of net sales
19%
25%
Delivered first-quarter revenue of
$867mm, down 5% from prior year
Generated $167mm of EBITDA with
19% EBITDA margin
Delivered strong and stable performance in current markets
$4,000
$3,200
$2,400
$1,600
$800
$0
Five-year financial performance2
2022 2023 2024 2025 LTM
25%
20%
15%
10%
5%
0%
($ in millions)
Q1 2026
Q1 2025
Net sales
475
540
EBITDA
34
68
EBITDA as % of net sales
7%
13%
Revenue by Product1 Revenue by Geography1
Delivered first-quarter revenue of
$475mm, down 12% from prior year
Generated $34mm of EBITDA with 7%
EBITDA margin
Continued to make progress on key commercial and operational initiatives
Interior
Components
Exterior
Europe
Canada & Mexico
U.S.
FY 2026
General corporate EBITDA expenses
$245mm - $255mm
Interest expense
$255mm - $265mm
Full-year effective tax rate
24% - 26%
Capital additions
Approximately $800mm
Depreciation and amortization
Approximately $680mm
Continuing operations
ENTERPRISE:
Revenue for continuing operations of approximately $2.6b to $2.7b, slightly below Q2 2025
Expect North America residential markets to remain under pressure with volume declines versus prior year
Anticipate North America non-residential construction to be stable and gradual market recovery in Europe
Adjusted EBITDA margin of approximately 20% to 22%
ROOFING INSULATION DOORS
Revenue down low- to mid-single digits
Industry shipments for U.S. shingle end-market demand down low- to mid-single digits with OC shingle volumes above the market
Components volume in line with shingle
demand
Pricing down slightly, and ongoing input cost and transportation inflation, resulting in negative price/cost
EBITDA margin in the low-30% range
Revenue down low-single digits
Sale of China building materials business
NA residential revenue down low-single digits; previous pricing actions and slightly lower volumes
NA non-residential revenue up low-single digits
with slightly positive price
Europe revenue up; gradual market recovery and currency tailwinds
Anticipate ongoing input cost and transportation inflation, and idle impact from lower production
EBITDA margin of approximately 20%
Revenue down mid-single digits
Revenue decline driven primarily by the strategic sale of Oregon components facility impacting volume, and divestiture of company-owned distribution business
Relatively flat price and ongoing input cost and
transportation inflation
Continue to realize benefit from ongoing commercial and cost optimization work
EBITDA margin of high-single digits
The above outlook reflects a year-over-year comparison to Q2 2025 results for continuing operations
Disclaimer
Owens Corning published this content on May 06, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 06, 2026 at 14:29 UTC.