Owens Corning reports $140 million additional loss on glass business sale

Owens Corning (NYSE: OC) announced it will recognize an additional loss of approximately $140 million related to the sale of its global glass reinforcements business.

The additional loss stems from a decrease in the agreed purchase price and changes in other net assets, according to a company statement. The final amount remains subject to cumulative foreign currency adjustments, net working capital adjustments, and costs to sell.

The company previously disclosed an expected impairment charge associated with the announced sale of the glass reinforcements business on February 14, 2025. Beginning with the quarterly report for the period ended March 31, 2025, the business's financial results will be reflected as discontinued operations for all periods presented, and the business will be classified as "held for sale."

The revised terms of the transaction prompted the recognition of the additional loss beyond the previously disclosed impairment charge.

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