OC

Owens Corning is a building-products leader across three segments — Roofing, Insulation and Doors — operating 126 continuing manufacturing facilities. FY2025 revenue edged up 2.6% to $10.1B, but the headline is jarring: a net loss of $522M and diluted EPS of -$6.22, versus net income above $1B in FY2021-FY2023 and $647M in FY2024. The key to the call is reading the loss correctly: operating income remained positive at $360M and operating cash flow was a robust $1.79B (down only 5.6%), so the bottom-line loss was driven by large non-cash/below-operating charges (consistent with impairment and the discontinued-operations/GR-business divestiture flagged in the filing), not an operating collapse. Gross margin held at 28.1%.

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