Company: OC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001370946-25-000241
Chunk: 80

Company: Owens Corning
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 80
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,(In millions)2025202420252024Net sales$2,684 $2,763 $7,961 $7,277 Gross margin$757 $851 $2,340 $2,292 % of net sales28 %31 %29 %31 %Marketing and administrative expenses$240 $258 $764 $677 Goodwill impairment charge$780 $— $780 $— Other expense, net$23 $89 $72 $258 (Loss) earnings from continuing operations before interest and taxes$(328)$472 $584 $1,267 Interest expense, net$65 $69 $192 $148 Income tax expense$102 $118 $300 $302 Net (loss) earnings from continuing operations attributable to Owens Corning$(495)$287 $94 $821 Net earnings (loss) from discontinued operations attributable to Owens Corning$1 $34 $(318)$84 Net (loss) earnings attributable to Owens Corning$(494)$321 $(224)$905 

40

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

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 third quarter and year-to-date 2025, net sales decreased $79 million and increased $684 million, respectively, compared to the same periods in 2024. For the third quarter, the decrease was primarily driven by lower volumes in our Insulation and Doors segments and the unfavorable impact from the divestiture of our building materials business in China and Korea, while positive pricing from our Roofing segment provided a partial offset. For year-to-date 2025, the increase was primarily driven by the revenues from our Doors segment as a result of the Masonite acquisition and higher selling prices for our Roofing and Insulation segments, which were partially offset by lower sales volumes for our Insulation and Roofing segments.

GROSS MARGIN

In the third quarter and year-to-date 2025, gross margin decreased $94 million and increased $48 million, respectively, compared to the same periods in 2024. For the third quarter, the decrease was primarily driven by lower volumes for our Ins