On August 5, Owens-Corning rose 7.36% in regular trading, trading at $156.44/share, with turnover of $93.92 million. The surge was driven by the company's strong Q2 earnings release.

Owens-Corning reported Q2 adjusted EPS of $3.93, crushing the analyst consensus estimate of $3.08 by 27.6%. Revenue came in at $2.756 billion, also topping the $2.653 billion estimate. Notably, this marks the second consecutive quarter of significant outperformance, following a Q1 adjusted EPS beat of 28.4% ($1.22 vs. $0.95 estimate). The robust results reflect the continued value release from the company's restructuring into a branded building materials leader, with continuing operations delivering strong profitability. Additionally, the company noted a potential $25 million tax refund under the Inflation Reduction Act that was not included in prior Q2 guidance. Management also flagged an expected $40 million cost impact next quarter related to the Iran conflict.

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