Company: OC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001370946-25-000241
Chunk: 0

Company: Owens Corning
Filing Date: 2025-11-05
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 EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024NET SALES$2,684 $2,763 $7,961 $7,277 COST OF SALES1,927 1,912 5,621 4,985 Gross margin757 851 2,340 2,292 OPERATING EXPENSESMarketing and administrative expenses240 258 764 677 Science and technology expenses39 32 111 91 Goodwill impairment charge780 — 780 — Loss on sale of business2 — 28 — Other expense, net23 89 72 258 Total operating expenses1,084 379 1,755 1,026 OPERATING (LOSS) INCOME(327)472 585 1,266 Non-operating expense (income)1 — 1 (1)(LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST AND TAXES(328)472 584 1,267 Interest expense, net65 69 192 148 (LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES(393)403 392 1,119 Income tax expense102 118 300 302 Equity in net earnings of affiliates— 2 1 4 NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS(495)287 93 821 Net earnings (loss) from discontinued operations attributable to Owens Corning, net of tax1 34 (318)84 NET (LOSS) EARNINGS$(494)$321 $(225)$905 NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS$(495)$287 $93 $821 Net loss attributable to non-redeemable and redeemable noncontrolling interests— — (1)— NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING(495)287 94 821 Net earnings (loss) from discontinued operations attributable to Owens Corning, net of tax1 34 (318)84 NET (LOSS) EARNINGS ATTRIBUTABLE