Owens Corning
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
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Jun 30, 2026 · Filed Aug 5, 2026
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14. Earnings per Share
| 14. | EARNINGS PER SHARE |
The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per-share:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (In millions, except per share amounts) | 2026 | 2025 | 2026 | 2025 |
| Net earnings from continuing operations attributable to Owens Corning | $310 | $334 | $348 | $589 |
| Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax | (84) | 29 | (227) | (319) |
| NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | $226 | $363 | $121 | $270 |
| Weighted-average number of shares outstanding used for basic earnings per share | 80.3 | 85.0 | 80.5 | 85.4 |
| Unvested restricted stock units and performance share units | 0.3 | 0.5 | 0.3 | 0.5 |
| Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share | 80.6 | 85.5 | 80.8 | 85.9 |
| Earnings (Loss) per common share attributable to Owens Corning common stockholders: | ||||
| Basic - continuing operations | $3.86 | $3.93 | $4.32 | $6.90 |
| Basic - discontinued operations | $(1.05) | $0.34 | $(2.82) | $(3.74) |
| Basic | $2.81 | $4.27 | $1.50 | $3.16 |
| Diluted - continuing operations | $3.84 | $3.91 | $4.31 | $6.86 |
| Diluted - discontinued operations | $(1.04) | $0.34 | $(2.81) | $(3.71) |
| Diluted | $2.80 | $4.25 | $1.50 | $3.15 |
Basic earnings per share is calculated by dividing earnings attributable to Owens Corning by the weighted-average number of shares of the Company’s common stock outstanding during the period. Outstanding shares consist of issued shares less treasury stock.
On May 13, 2025, the Board of Directors approved a new share repurchase program under which the Company is authorized to repurchase up to 12 million shares of the Company’s outstanding common stock (the “2025 Repurchase Authorization”). On December 1, 2022, the Board of Directors approved a share repurchase program under which the Company is authorized to repurchase up to 10 million shares of the Company’s outstanding common stock (together with the 2025 Repurchase Authorization, the "Repurchase Authorizations"). The Repurchase Authorizations enable the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and will be at the Company’s discretion.
The Company repurchased 1.7 million shares of its common stock for $201 million, inclusive of applicable taxes, during the six months ended June 30, 2026 under the Repurchase Authorizations. As of June 30, 2026,10.8 million shares remained available for repurchase under the Repurchase Authorizations. The Company repurchased 2.3 million shares of its common stock for $322 million, inclusive of applicable taxes, during the six months ended June 30, 2025.
For the three months ended June 30, 2026, the Company had 0.3 million of unvested RSUs and unvested PSUs that had a potentially anti-dilutive effect on earnings per share and were excluded from the computation of diluted earnings per share for the period. For the six months ended June 30, 2026 and each of the three and six months ended June 30, 2025, the Company didnot have any unvested RSUs and unvested PSUs that had a potentially anti-dilutive effect on earnings per share.
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