Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenue of $2.1 billion and Adjusted EBITDA of $362 million, with an Adjusted EBITDA margin of 17% [7] - For the full year 2025, revenue reached $10.1 billion and Adjusted EBITDA was $2.3 billion, resulting in an Adjusted EBITDA margin of 22% [8] - The company returned $1 billion to shareholders through dividends and share repurchases in 2025, marking a total of over $4 billion returned since 2020 [8] Business Line Data and Key Metrics Changes - Roofing business sales in Q4 were $774 million, down 27% year-over-year, primarily due to lower shingle volumes [25] - Insulation business achieved Q4 revenues of $916 million, down 7%, driven by lower volumes in North American residential markets [27] - Doors business generated Q4 revenue of $486 million, down 14% from the prior year, affected by lower volumes in new construction and remodeling [29] Market Data and Key Metrics Changes - The U.S. residential market faced weakening trends, with a notably quiet storm season impacting roofing repair demand [6] - North American residential new construction and discretionary repair activity are expected to remain soft in early 2026, with a gradual improvement anticipated in the second half of the year [34] - European market conditions are expected to remain stable, benefiting from currency tailwinds [36] Company Strategy and Development Direction - The company is focusing on reshaping its portfolio by divesting from non-core businesses and enhancing its presence in residential product categories [9][10] - Strategic investments in manufacturing efficiency and capacity expansion are underway, with a focus on long-term cost efficiency [16] - The company aims to leverage its brand strength and unique capabilities to drive revenue growth and achieve mid-20% Adjusted EBITDA margins over the long term [12][44] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market conditions in 2025 but expressed confidence in the company's ability to generate strong financial results as market conditions improve [18][34] - The outlook for 2026 includes expectations for a gradual recovery in residential markets, with a focus on capturing pent-up demand for housing and renovations [44] - Management emphasized the importance of operational efficiency and strategic investments to enhance future growth potential [19][44] Other Important Information - The company achieved a recordable incident rate of 0.60, reflecting its commitment to safety [7] - The company has made significant progress in integrating its new Doors business and achieving cost synergies [11] - The company expects to maintain a disciplined capital allocation strategy while investing in high-return growth opportunities [24] Q&A Session Summary Question: How comfortable is the company with visibility into Q2 to Q4 and meeting consensus estimates? - Management indicated that visibility is improving, with expectations for roofing demand to increase throughout the year as market conditions normalize [47][49] Question: What types of investments are included in the $800 million CapEx guide? - The $800 million CapEx is focused on growth-oriented and productivity investments in Roofing and Insulation, supporting ongoing cost efficiency [52][54] Question: Can the company discuss the contractor pull-through opportunities mentioned? - Management highlighted the success of its contractor engagement model and its expansion to lumber and building material dealers, resulting in a 38% increase in dealer enrollments [68][70]

Owens Corning (NYSE:OC) Q4 2025 Earnings call February 25, 2026 09:00 AM ET Company ParticipantsAmber Wohlfarth - VP of Corporate Affairs and Investor RelationsBrian Chambers - Chair and CEOMatthew Bouley - Managing DirectorTodd Fister - EVP and CFOConference Call ParticipantsAdam Baumgarten - Vice President and Equity Research AnalystAnthony Pettinari - Managing Director and Senior Equity AnalystBrian Biros - Senior AnalystJohn Lovallo - Managing Director and Senior Equity AnalystMichael Rehaut - Executive ...