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Owens Corning OC

Owens Corning reports $250 million net loss for Q3 2026

Form
10-Q
Filed
Importance
Notable
  1. Revenue: $2.49 billion for the three months ended Sep 30, 2026
  2. Net loss: $250 million for the three months ended Sep 30, 2026
  3. Diluted EPS: -$3.18 for the three months ended Sep 30, 2026
  4. Cash and equivalents: $179 million at Sep 30, 2026

Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.

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What changed since last quarter

1 new legal mention

Compared with the 10-Q for the period ended Jun 30, 2026.

Key numbers from the XBRL in this filing and the previous one.
This filingPreviousChange vs prior 10-Q
Revenue$2.49B$2.76B−9.7%
Operating income and margin−$152M · -6.1%$482M · 17.5%−132%, margin −23.6 pts
Net income−$250M$226M−211%
Operating cash flow$813M$398M+104%
Cash$179M$271M−34%
New legal mentions (1)
  • During the three and nine months ended September 30, 2026, the Company evaluated the refund under ASC 450, Contingencies, and recognized approximately $25 million and $50 million, respectively, within Cost of Sales on the Consolidated Statements of Earnings. +1 more paragraph

The reading, claim by claim

  1. Gross margin was $615 million, against $757 million.
  2. The operating loss was $152 million, against $327 million.
  3. Operating expenses for the three months included goodwill impairment of $366 million and intangible assets impairment of $77 million.
  4. Income tax expense was $33 million for the quarter.
  5. Diluted loss per share was $(3.18) for the three months, against $(5.92) a year earlier.
  6. For the nine months ended September 30, 2026, net sales were $7,510 million, and net loss was $127 million.
  7. Net loss from discontinued operations for the nine months was $229 million.
  8. On the balance sheet (in millions), cash and cash equivalents were $179 million at September 30, 2026, against $345 million at December 31, 2025.
  9. Goodwill was $1,288 million, against $1,679 million.
  10. Total assets were $11,847 million, and long-term debt, net of current portion, was $4,250 million.

10 of 11 claims matched the filing text.

Not found in the filing text

  • The year-earlier quarter included goodwill impairment of $780 million.

From the filing's financial data, not stated in its text

From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026

  • For the quarter ended September 30, 2026, it reported revenue of $2.5 billion and a net income of -$250.0 million, with revenue 7.3% lower than a year earlier.

From the filing

ITEM 1. FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS OWENS CORNING AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS

(unaudited) (in millions, except per share amounts)

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025 NET SALES $ 2,489 $ 2,684 $ 7,510 $ 7,9616 COST OF SALES 1,874 1,927 5,592 5,621 Gross margin 615 757 1,918 2,3401

OPERATING EXPENSES

Marketing and administrative expenses 239 240 749 764 Science and technology expenses 35 39 107 111 Goodwill impairment 366 780 366 7803 Intangible assets impairment 77 — 77 —3

Loss on sale of business — 2 — 28

Other expense, net 50 23 169 72 Total operating expenses 767 1,084 1,468 1,755 OPERATING (LOSS) EARNINGS ( 152 ) ( 327 ) 450 5852 Non-operating expense — 1 — 1 (LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST AND TAXES ( 152 ) ( 328 ) 450 584 Interest expense, net 62 65 197 192 (LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES ( 214 ) ( 393 ) 253 392 Income tax expense 33 102 150 3004 Equity in net (loss) earnings of affiliates ( 1 ) — ( 1 ) 1 NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS ( 248 ) ( 495 ) 102 93 Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax ( 2 ) 1 ( 229 ) ( 318 )7 NET LOSS $ ( 250 ) $ ( 494 ) $ ( 127 ) $ ( 225 )6 NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS $ ( 248 ) $ ( 495 ) $ 102 $ 93

Net earnings (loss) attributable to noncontrolling interests — — 2 ( 1 )

NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING ( 248 ) ( 495 ) 100 94 Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax ( 2 ) 1 ( 229 ) ( 318 ) NET LOSS ATTRIBUTABLE TO OWENS CORNING $ ( 250 ) $ ( 494 ) $ ( 129 ) $ ( 224 ) (LOSS) EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS Basic - continuing operations $ ( 3.15 ) $ ( 5.93 ) $ 1.25 $ 1.11 Basic - discontinued operations ( 0.03 ) 0.01 ( 2.87 ) ( 3.75 ) Basic $ ( 3.18 ) $ ( 5.92 ) $ ( 1.62 ) $ ( 2.64 ) Diluted - continuing operations $ ( 3.15 ) $ ( 5.93 ) $ 1.25 $ 1.10 Diluted - discontinued operations ( 0.03 ) 0.01 ( 2.86 ) ( 3.73 ) Diluted $ ( 3.18 ) $ ( 5.92 ) $ ( 1.61 ) $ ( 2.63 )5

T he 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 Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025 NET LOSS $ ( 250 ) $ ( 494 ) $ ( 127 ) $ ( 225 ) Other comprehensive (loss) income, net of tax: Currency translation adjustment (net of tax of $ 0 and $ 0 for the three months ended September 30, 2026 and 2025, respectively, and $ 0 and $ 0 for the nine months ended September 30, 2026 and 2025, respectively) ( 33 ) ( 6 ) 62 251 Pension and other postretirement adjustment (net of tax of $ 0 and $ 0 for the three months ended September 30, 2026 and 2025, respectively, and $( 1 ) and $ 1 for the nine months ended September 30, 2026 and 2025, respectively) ( 1 ) 1 — ( 7 ) Hedging adjustment (net of tax of $ 1 and $ 0 for the three months ended September 30, 2026 and 2025, respectively, and $ 3 and $ 0 for the nine months ended September 30, 2026 and 2025, respectively) — ( 1 ) ( 1 ) ( 6 ) Total other comprehensive (loss) income, net of tax ( 34 ) ( 6 ) 61 238 TOTAL COMPREHENSIVE (LOSS) EARNINGS ( 284 ) ( 500 ) ( 66 ) 13

Comprehensive (loss) earnings attributable to noncontrolling interests — ( 1 ) — 1

COMPREHENSIVE (LOSS) EARNINGS ATTRIBUTABLE TO OWENS CORNING $ ( 284 ) $ ( 499 ) $ ( 66 ) $ 12

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

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OWENS CORNING AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

(unaudited) (in millions, except per share amounts)

September 30, December 31, ASSETS 2026 2025 CURRENT ASSETS Cash and cash equivalents $ 179 $ 3458 Receivables, less allowance of $ 3 at September 30, 2026 and $ 4 at December 31, 2025 1,173 937 Inventories 1,464 1,472 Other current assets 206 165

Current assets of discontinued operations — 426

Total current assets 3,022 3,345

Property, plant and equipment, net 4,204 4,170

Operating lease right-of-use assets 465 507

Goodwill 1,288 1,6799 Intangible assets, net 2,341 2,535 Deferred income taxes 15 10 Other non-current assets 512 480

Non-current assets of discontinued operations — 254

TOTAL ASSETS $ 11,847 $ 12,98010 LIABILITIES AND EQUITY CURRENT LIABILITIES

Accounts payable $ 1,373 $ 1,257 Current operating lease liabilities 86 83 Short-term debt 102 50

Long-term debt - current portion 539 435

Other current liabilities 576 613

Current liabilities of discontinued operations — 222

Total current liabilities 2,676 2,660

Long-term debt, net of current portion 4,250 4,68710

Pension plan liability 35 38 Other employee benefits liability 92 96

Non-current operating lease liabilities 406 450

Deferred income taxes 861 737 Other liabilities 326 323

Non-current liabilities of discontinued operations — 96

Total liabilities 8,646 9,087

OWENS CORNING STOCKHOLDERS' EQUITY

Preferred stock, par value $ 0.01 per share (a)

— —

Common stock, par value $ 0.01 per share (b)

1 1 Additional paid-in capital 4,266 4,256 Accumulated earnings 4,144 4,463 Accumulated other comprehensive deficit ( 374 ) ( 437 )

Cost of common stock in treasury (c) ( 4,874 ) ( 4,430 )

Total Owens Corning stockholders' equity 3,163 3,853

Noncontrolling interests 38 40 Total equity 3,201 3,893 TOTAL LIABILITIES AND EQUITY $ 11,847 $ 12,980 (a) 10 shares authorized; none issued or outstanding at September 30, 2026 and December 31, 2025 (b) 400 shares authorized; 135.5 issued and 77.1 outstanding at September 30, 2026; 135.5 issued and 80.2 outstanding at December 31, 2025 (c) 58.4 shares at September 30, 2026 and 55.3 shares at December 31, 2025

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

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OWENS CORNING AND SUBS

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Data on this page was fetched . The filing on SEC.gov is the record.