By Josee Rose

Owens Corning swung to a first-quarter loss due to the divestiture of one of its businesses, but it expects to lower its tariff-exposure costs in the second quarter as repair demand should remain solid.

The Toledo, Ohio, company on Wednesday said it swung to a first-quarter loss of $93 million, or $1.08 a share, from a profit of $299 million, or $3.40 a share, a year earlier.

Earnings from continuing operations were $2.95 a share, and adjusted earnings from continuing operations were $2.97 a share. Analysts polled by FactSet had been expecting $2.87 a share.

Quarterly sales rose to $2.53 billion, about in line with analyst expectations. The quarter was helped by higher roofing sales and the addition of the company's recently acquired doors business.

Owens Corning, which develops, manufactures and markets building materials for roofs, insulations, doors and windows, said its previously announced plans to divest its glass-reinforcements business remains on track to close this year, and that unit is now reported as discontinued operations.

For the second quarter, the company expects to cut its tariff exposure to a net impact of $10 million, from about $50 million, primarily in its doors business.

Owens Corning expects short-term demand for "nondiscretionary repair activity to remain solid through the second quarter, while residential new construction and remodeling is expected to remain soft." The company said construction for non-residential units in North America is starting to face headwinds, though it expects overall European market conditions to gradually improve as the year progresses.

Write to Josee Rose at josee.rose@wsj.com

(END) Dow Jones Newswires

May 07, 2025 07:06 ET (11:06 GMT)

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