Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 54

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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In our newly acquired Doors segment, EBITDA in the first quarter 2025 was $68 million, due to the acquisition of Masonite, which was completed on May 15, 2024.

OUTLOOK

The outlook for the Doors segment is driven by the residential new construction and residential repair and remodeling markets in North America and Europe. The Company expects the North America residential new construction market to be temporarily challenged, with discretionary residential repair and remodeling activity in North America remaining soft. Due to a weaker macroeconomic outlook and higher interest rates in Europe, the Company expects these markets to remain challenged. The Company will concentrate on managing costs, capital expenditures and working capital.

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Table of ContentsITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Corporate, Other and Eliminations

The table below provides a summary of EBITDA for the Corporate, Other and Eliminations category:

  Three Months EndedMarch 31,(In millions)20252024Restructuring Excluding Depreciation and Amortization $(3)$(10)Gains on sale of certain precious metals9 — Strategic review-related charges— (2)Paroc marine recall(1)(1)Acquisition-related transaction costs— (18)Acquisition-related integration costs(2)— Loss on Assets Held for Sale(2)— General corporate expense and other(60)(46)EBITDA$(59)$(77)

EBITDA

In Corporate, Other and Eliminations, EBITDA expenses for the first quarter of 2025 were lower by $18 million compared to the same period in 2024, primarily driven by lower acquisition-related transaction and restructuring costs, along with gains on sale of certain precious metals, partially offset by increased General corporate expense and other.

General corporate expense and other for the first quarter of 2025 were higher by $14 million compared to the same period in 2024.                    

OUTLOOK

In 2025, we estimate general corporate expenses to be approximately $240 million to $260 million.

LIQUIDITY, CAPITAL RESOURCES AND OTHER RELATED MATTERS

Liquidity

The Company’s primary sources of liquidity are its balance of Cash and cash equivalents from continuing operations of $400 million as of March 31, 2025, its commercial paper program ("CP Program") and Senior Revolving Credit Facility (as defined below).

The Company has a $1.