Owens Corning Q2 Earnings Call Highlights

Owens Corning reported second-quarter 2026 revenue of $2.8 billion and adjusted EBITDA of $660 million, producing a 24% adjusted EBITDA margin as the building-products manufacturer cited commercial and operational initiatives that helped offset uneven construction and remodeling conditions. Adjusted earnings per diluted share were $3.93. Revenue was relatively flat from the prior-year period, while free cash flow rose to $199 million from $129 million a year earlier. The company said it returned $264 million to shareholders during the quarter through $200 million of share repurchases and $64 million in dividends, bringing first-half capital returns to $327 million. Chief Financial and Operating Officer Todd Fister said second-quarter EBITDA included a $25 million benefit from tariff refunds, with about half of the refund affecting the doors business and the rest spread across the enterprise. The refunds partially offset $30 million in net cost inflation related to the Iran conflict, he said. Owens Corning expects the net cost impact related to Iran to be about $40 million in the third quarter as inflation moves through inventory, with roofing expected to be the most affected segment. Fister said the company has more than $20 million in potential additional tariff refunds pending, though the timing is uncertain and the potential refunds were not included in the company’s third-quarter outlook. The company ended the quarter with $1.8 billion of liquidity, including $271 million in cash and $1.5 billion available under bank debt facilities. Its debt-to-EBITDA ratio was 2.4 times, near the middle of its targeted range of two to three times. Owens Corning said it intends to pay off $400 million of senior notes due in the third quarter using commercial paper. For the full year, Owens Corning expects approximately $800 million of capital additions, with more than half allocated to productivity and growth programs. The company is building a new Fiberglas line in Kansas City that is expected to begin operating next year and initially serve commercial and industrial insulation applications. It is also constructing a roofing plant in Alabama, with capacity expected ...