Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 0

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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ITEM 1.  FINANCIAL STATEMENTS

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS

(unaudited)

(in millions, except per share amounts)

 Three Months EndedMarch 31,    20252024NET SALES$2,530 $2,017 COST OF SALES1,805 1,389 Gross margin725 628 OPERATING EXPENSESMarketing and administrative expenses261 190 Science and technology expenses35 27 Other expense, net22 35 Total operating expenses318 252 OPERATING INCOME407 376 Non-operating expense— — EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST AND TAXES407 376 Interest expense, net64 16 EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES343 360 Income tax expense88 83 NET EARNINGS FROM CONTINUING OPERATIONS 255 277 Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax(348)21 NET (LOSS) EARNINGS$(93)$298 NET EARNINGS FROM CONTINUING OPERATIONS $255 $277 Net loss attributable to non-redeemable and redeemable noncontrolling interests— (1)NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING255 278 Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax(348)21 NET (LOSS) EARNINGS ATTRIBUTABLE TO OWENS CORNING$(93)$299 (LOSS) EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERSBasic - continuing operations$2.97 $3.18 Basic - discontinued operations$(4.05)$0.24 Basic$(1.08)$3.42 Diluted - continuing operations$2.95 $3.16 Diluted - discontinued operations$(4.03)$0.24 Diluted$(1.08)$3.40 

The accompanying Notes to the Consolidated Financial Statements are an integral part of these Statements.                                                                                                                                                                                                                                                                                                                                                                               

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Table of Contents

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS

(unaudited)

(in millions)

 Three Months EndedMarch