Company: OC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001370946-25-000205
Chunk: 0

Company: Owens Corning
Filing Date: 2025-08-06
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 EndedJune 30,Six Months EndedJune 30,2025202420252024NET SALES$2,747 $2,497 $5,277 $4,514 COST OF SALES1,889 1,684 3,694 3,073 Gross margin858 813 1,583 1,441 OPERATING EXPENSESMarketing and administrative expenses263 229 524 419 Science and technology expenses37 32 72 59 Loss on sale of business24 — 26 — Other expense, net29 134 49 169 Total operating expenses353 395 671 647 OPERATING INCOME505 418 912 794 Non-operating income— (1)— (1)EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST AND TAXES505 419 912 795 Interest expense, net63 63 127 79 EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES442 356 785 716 Income tax expense110 101 198 184 Equity in net earnings of affiliates1 2 1 2 NET EARNINGS FROM CONTINUING OPERATIONS333 257 588 534 Net earnings (loss) from discontinued operations attributable to Owens Corning, net of tax29 29 (319)50 NET EARNINGS$362 $286 $269 $584 NET EARNINGS FROM CONTINUING OPERATIONS$333 $257 $588 $534 Net (loss) earnings attributable to non-redeemable and redeemable noncontrolling interests(1)1 (1)— NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING334 256 589 534 Net earnings (loss) from discontinued operations attributable to Owens Corning, net of tax29 29 (319)50 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING$363 $285 $270 $584 EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERSBasic - continuing operations$3.93