WASHINGTON (dpa-AFX) - Owens Corning (OC) posted a third quarter loss from continuing operations of $495 million compared to profit of $287 million, last year. Loss per share from continuing operations was $5.93 compared to profit of $3.26. Adjusted income from continuing operations declined to $306 million from $356 million. Adjusted EPS was $3.67 compared to $4.05. Net sales declined to $2.68 billion from $2.76 billion, prior year.
For the fourth quarter, Owens Corning expects revenue from continuing operations to be down mid-to-high teens to approximately $2.1 billion to $2.2 billion. Also, Owens Corning remains committed to delivering the long-term targets provided at May 2025 Investor Day, including revenue growth, an annual adjusted EBITDA margin of mid-20% for the enterprise, and $5 billion of cumulative free cash flow by 2028.
Shares of Owens Corning are down 8% in pre-market trade on Wednesday.
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