Owens Corning Posts Doors Impairment and a Third-Quarter Loss

The Tip Desk · November 4, 2026 · 2 min read

The building-products company reported a $3.15-a-share loss from continuing operations after $476 million of Doors-related impairments, with net sales of $2.489 billion.

Owens Corning (OC) swung to a third-quarter loss after recording $476 million of non-cash, pre-tax impairment charges related to its Doors business, producing diluted earnings of $(3.15) a share from continuing operations.

Net sales from continuing operations were $2.489 billion, down 7% from a year earlier, after second-quarter sales of $2.756 billion had been in line with the year-ago period. Adjusted EBITDA from continuing operations was $489 million, and the adjusted EBITDA margin compressed to 20% from 24% a year earlier. Adjusted diluted EPS from continuing operations was $2.44 a share.

Chair and Chief Executive Officer Brian Chambers said challenging residential market conditions were further impacted by a second consecutive year of weak storm activity and rapidly rising transportation and input material costs. The company said it generated an enterprise adjusted EBITDA margin of 20% in the quarter.

Roofing, the largest of the three reportable businesses, was the main drag. Segment net sales fell 16% to $1.042 billion from $1.240 billion a year earlier, with EBITDA of $299 million and an EBITDA margin of 29% versus 34%. Insulation net sales rose 6% to $1.001 billion, with EBITDA of $215 million and a 21% margin. Doors net sales declined 11% to $483 million, with EBITDA of $25 million and a 5% margin.

Operating cash flow was $813 million and free cash flow $622 million, versus second-quarter operating cash flow of $398 million and free cash flow of $199 million. The company returned $337 million to shareholders in the third quarter through $275 million of share repurchases of 1.9 million shares and a $62 million dividend, and reduced debt by $299 million. Net leverage was 2.5 times on last-twelve-months adjusted EBITDA of $1.880 billion, with net debt of $4.712 billion at September 30, 2026.

Todd Fister was promoted to President and Chief Operating Officer. Jonathan Collins joined in August as Executive Vice President and Chief Financial Officer.

For the fourth quarter of 2026, Owens Corning expects revenue of $2.0 billion to $2.2 billion and an enterprise adjusted EBITDA margin of approximately 10% to 12%. The company said it expects existing home sales, discretionary remodeling activity, and residential new construction to remain under pressure. In Roofing, a second consecutive year without significant storm activity and related distribution destocking are expected to weigh on near-term demand. It anticipates significant input and delivery cost inflation to result in incremental expense, with minimal price expectations in the quarter. The margin outlook reflects those inflation and transportation cost increases, as well as fourth-quarter seasonality and incremental downtime due to weaker market volumes, the company said.