Owens Corning swung to a third-quarter net loss of $248 million after taking a $476 million non-cash impairment charge in its Doors business, as weak housing demand and rising costs weighed on the building products maker.

Sales fell 7% to $2.5 billion, down $195 million from a year earlier, the company reported on Wednesday. Diluted earnings per share were a loss of $3.15, while adjusted diluted earnings per share of $2.44 missed the $3.07 analysts had expected.

The Doors division bore the brunt of the downturn. Sales there fell 11% to $483 million and the segment's earnings margin halved to 5%, as repair, remodelling and new-build markets all stayed soft and inflation ate into pricing gains. The impairment reflects the weaker outlook for the business.

Roofing also struggled, with volumes down after another year of unusually low storm activity, although growth in insulation partly offset the decline. Even so, adjusted earnings before interest, tax, depreciation and amortisation held at $489 million, a margin of 20%, and free cash flow reached $622 million.

Chief financial officer Jonathan Collins said the company had protected margins despite falling volumes, but the outlook remains cautious. Owens Corning expects fourth-quarter revenue of $2.0 billion to $2.2 billion, with an adjusted earnings margin of only 10% to 12%.

Analysts reacted quickly. Royal Bank of Canada cut its price target on the shares to $119 from $127 after the results, citing the earnings miss and the softer guidance for the final quarter of the year.

[Source: businesswire.com](https://www.businesswire.com/news/home/20261104295726/en/Owens-Corning-Announces-Third-Quarter-2026-Results) | [Source: fool.com](https://www.fool.com/earnings/call-transcripts/2026/11/04/owens-corning-oc-q3-2026-earnings-call-transcript/)