Owens Corning | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 2.756 B

Revenue: As of FY2026 Q2, the actual value is USD 2.756 B, beating the estimate of USD 2.658 B.

EPS: As of FY2026 Q2, the actual value is USD 3.84, beating the estimate of USD 3.1704.

EBIT: As of FY2026 Q2, the actual value is USD 482 M.

Overall Performance from Continuing Operations

Net Sales

Owens Corning reported net sales of $2,756 million for Q2 2026, a slight increase from $2,747 million in Q2 2025. For the six months ended June 30, 2026, net sales were $5,021 million, a -5% decrease from $5,277 million in the prior year period.

Net Earnings Attributable to Owens Corning

Net earnings were $310 million in Q2 2026, a -7% decrease from $334 million in Q2 2025. For the six months, net earnings were $348 million, a -41% decrease from $589 million in the prior year.

Net Earnings Margin

The net earnings margin was 11% in Q2 2026, compared to 12% in Q2 2025. For the six months, it was 7% in 2026 versus 11% in 2025.

Adjusted EBITDA

Adjusted EBITDA for Q2 2026 was $660 million, a -6% decrease from $703 million in Q2 2025. For the six months, it was $1,029 million, a -19% decrease from $1,268 million in the prior year.

Adjusted EBITDA Margin

The adjusted EBITDA margin was 24% in Q2 2026, down from 26% in Q2 2025. For the six months, it was 20% in 2026 versus 24% in 2025.

Operating Cash Flow

Operating cash flow was $398 million in Q2 2026, a 22% increase from $327 million in Q2 2025. For the six months, it was $244 million, a -12% decrease from $278 million in the prior year.

Free Cash Flow

Free cash flow was $199 million in Q2 2026, a 54% increase from $129 million in Q2 2025. For the six months, free cash flow was -$188 million, compared to -$123 million in the prior year, representing a -53% change.

Segment Revenue and EBITDA

Roofing

Net sales were $1,313 million in Q2 2026 (up 1% from Q2 2025) and $2,273 million for the six months (down -6% from prior year). EBITDA was $441 million in Q2 2026 (34% margin) and $672 million for the six months (30% margin).

Insulation

Net sales were $971 million in Q2 2026 (up 4% from Q2 2025) and $1,838 million for the six months (flat from prior year). EBITDA was $213 million in Q2 2026 (22% margin) and $380 million for the six months (21% margin).

Doors

Net sales were $513 million in Q2 2026 (down -7% from Q2 2025) and $988 million for the six months (down -10% from prior year). EBITDA was $57 million in Q2 2026 (11% margin) and $91 million for the six months (9% margin).

Operational Metrics

Safety Performance

Owens Corning maintained a recordable incident rate (RIR) of 0.75 in Q2 2026.

Strategic Initiatives

The company completed the sale of its glass reinforcements business on April 30, 2026, and achieved $135 million in enterprise run-rate cost synergies, exceeding its $125 million commitment by mid-2026.

Cash Returned to Shareholders

In Q2 2026, Owens Corning returned $264 million to shareholders, including $200 million for repurchasing 1.7 million shares and $64 million in quarterly cash dividends.

Outlook / Guidance

For Q3 2026, Owens Corning anticipates revenue between $2.6 billion and $2.7 billion, with an enterprise adjusted EBITDA margin of approximately 20% to 22%. The company projects an incremental cost impact of approximately $40 million due to inflationary pressures from the Iran conflict. For the full year 2026, General Corporate EBITDA Expenses are forecasted between $245 million to $255 million, Interest Expense from $255 million to $265 million, Capital additions around $800 million, and Depreciation and Amortization around $680 million, with an Effective Tax Rate on Adjusted Earnings of 24% to 26%.