Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 49

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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407 $376 Interest expense, net$64 $16 Income tax expense$88 $83 Net earnings from continuing operations attributable to Owens Corning$255 $278 Net (loss) earnings from discontinued operations attributable to Owens Corning$(348)$21 Net (loss) earnings attributable to Owens Corning$(93)$299 

The Consolidated Results discussion below provides a summary of our results and the trends affecting our business, and should be read in conjunction with the more detailed Segment Results discussion that follows.

NET SALES

In the first quarter 2025, net sales increased $513 million compared to the same period in 2024. For the first quarter 2025, the increase in net sales was primarily driven by the revenues from our Doors segment as a result of the Masonite acquisition, which were partially offset by lower sales volumes for our Roofing and Insulation segments.

GROSS MARGIN

In the first quarter 2025, gross margin increased $97 million compared to the same period in 2024. For the first quarter 2025, the increase was primarily driven by the margins from our Doors segment as a result of the Masonite acquisition which were partially offset by lower sales volumes.

MARKETING AND ADMINISTRATIVE EXPENSES

In the first quarter 2025, marketing and administrative expenses increased $71 million compared to the same period in 2024. This increase was primarily driven by the addition of the Doors segment's selling, general, and administrative expenses, along with inflation throughout the rest of the organization. 

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

OTHER EXPENSE, NET

In the first quarter 2025, other expenses, net decreased $13 million compared to the same period in 2024. For the first quarter 2025, the decrease was primarily driven by lower acquisition and strategic review-related costs, which were slightly offset by higher gains on the sale of precious metals.

INTEREST EXPENSE, NET

In the first quarter 2025, interest expense, net, increased $48 million compared to the same period in 2024. For the first quarter, the increase was driven by interest on the higher long-term debt balances and lower interest income due to lower cash balances.

INCOME TAX EXPENSE

Income tax expense for the three months ended March 31, 2025 was $88 million. For the first quarter