What were the key takeaways from Owens Corning's earnings call?

What is the revenue and EPS growth rate for Owens Corning year over year?

What is Owens Corning's gross profit margin?

What is the market's earnings forecast for Owens Corning next quarter?

What is Owens Corning's latest dividend and current dividend yield?

What does Owens Corning do and what are its main business segments?

What factors drove the changes in Owens Corning's revenue and profit?

What were the key takeaways from Owens Corning’s earnings call?

**Key Takeaways:**
- **Q3 Performance:** $2.7B revenue, $638M EBITDA (24% margin) despite -3% YoY volume. 
- **Segment Strengths:** 
  - Roofing: 34% EBITDA margin, new Alabama plant 
  - Insulation: 23% EBITDA margin, Arkansas foam expansion 
  - Doors: 10% EBITDA margin, 40% of $125M synergies captured 
- **Q4 Outlook:** 16-18% EBITDA margin, $2.1-2.2B revenue (-mid/high teens YoY). 
- **Strategic Investments:** $800M CapEx for growth (e.g., Alabama shingles, Arkansas foam). 
- **Shareholder Returns:** $2B+ free cash flow, $2B+ returns (2025-26). 
- **Risks:** Tariffs ($12M Q3), market volatility, production curtailments.

**【CEO Opening Remarks】**
- Q3 revenue: $2.7B, adjusted EBITDA: $638M (24% margin). 
- Challenges: Weaker residential trends (-10% U.S. shingle market), quiet storm season (no named storms in Q3). 
- Strategic investments: 
  - $6M/sq new laminate shingle plant in Alabama 
  - Arkansas XPS foam plant (2026 operational) 
  - Kansas City fiberglass line for flexible production 
- Long-term outlook: 20%+ EBITDA margins, $2B+ free cash flow, $2B shareholder returns (2025-26). 

**【CFO Financial Commentary】**
- Q3 results: 
  - GAAP net income: $420M 
  - Adjusted EBITDA: $638M (24% margin) 
  - Free cash flow: $752M 
- Segment performance: 
  - Roofing: $1.2B rev, 34% EBITDA margin 
  - Insulation: $941M rev, 23% EBITDA margin 
  - Doors: $545M rev, 10% EBITDA margin 
- Key initiatives: 
  - $125M enterprise cost synergies (40% captured) 
  - $780M goodwill impairment in Doors (due to near-term market weakness) 
- Q4 guidance: 
  - Revenue: $2.1-2.2B (-mid/high teens YoY) 
  - EBITDA margin: 16-18% 

**【Q&A Highlights】**
1. **Roofing Pricing Strategy**
- Q4 pricing up slightly YoY, but negative price/cost due to inflation. 
- Seasonal destocking expected to reduce volumes by ~20% YoY. 
- Contractor engagement model maintains ~90% loyalty. 

2. **Insulation Market Dynamics**
- Resi Insulation: -7% YoY due to housing starts, nonres stable. 
- Europe: Gradual recovery in nonres construction. 
- 2025 Insulation margin: ~20% (vs. 2024's 23%). 

3. **Doors Segment Challenges**
- Q3 EBITDA: $56M (10% margin) vs. $63M prior year. 
- $12M tariff impact Q3, similar expected Q4. 
- 40% of $125M synergies captured, +$75M structural savings identified. 

4. **Capital Allocation**
- 2025 CapEx: $800M (includes $80M Glass Reinforcement) 
- Share buybacks: $220M Q3, $700M+ YTD 
- 2025-26 shareholder returns: $2B (dividends + buybacks)

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