Owens Corning Q2 2026: Continuing ops earn $310M, GR sale closes at $370M, tariff refund recognized

summarizeSummary

Owens Corning reported Q2 2026 adjusted EBITDA of $660M on $2.76B in sales, closed the GR business sale for $370M, and recognized a $25M tariff refund. Results reflect portfolio reshaping and cost management amid soft residential markets.

check_boxKey Events · Earnings and Guidance · OC

• Q2 2026 Earnings

  Net sales of $2.76B, operating income of $482M, and net earnings from continuing operations of $310M. Adjusted EBITDA was $660M, down from $703M a year ago, with margins at 24%.

• GR Business Sale Closed

  Completed the sale of the Glass Reinforcements business on April 30, 2026 for $370M net proceeds, after a $110M price reduction. Recognized a $175M pre-tax loss YTD, primarily from revised terms.

• Tariff Refund Recognition

  Recognized $25M of an estimated $50M in potential tariff refunds under the IEEPA following a U.S. Supreme Court decision, recorded in cost of sales.

• Restructuring Charges

  Incurred $69M in restructuring costs YTD, including $30M for a global corporate restructuring aimed at reducing operating expenses, and $37M for acquisition-related facility closures.

auto_awesomeAnalysis · OC · Manufacturing

Owens Corning delivered Q2 adjusted EBITDA of $660 million on net sales of $2.76 billion, with margins holding at 24% despite input cost inflation and production downtime. The long-awaited sale of the Glass Reinforcements business closed, generating $370 million in net proceeds but at a $110 million discount to the original deal, resulting in a $175 million year-to-date pre-tax loss. The company also recognized $25 million of an estimated $50 million tariff refund, providing a partial offset to cost pressures. Against a backdrop of unsolicited takeover interest from Carlisle Companies, these results show a company reshaping its portfolio while managing through a challenged demand environment.