logo
Share SHARE
FONT-SIZE Plus   Neg

USG Posts Profit In Q1, Revenue Rises - Quick Facts

Building products firm USG Corp. (USG) Wednesday reported first-quarter net income of $2 million or $0.02 per share compared to a net loss of $27 million or $0.26 per share last year.

Adjusted net income was $1 million, while in the prior year the firm lost $27 million.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 4 percent to $814 million from $783 million. Analysts expected revenues of $864.23 million.

James Metcalf, Chairman, President and CEO, said, ''We are pleased to report our first quarter of net income in more than five years. All segments showed improved results in the period, and our commitment to innovation and lowering our break-even are evident in our results."

The stock, which closed at $25.55 on Tuesday, is falling 2.9 percent in pre-market activity.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The recent week marked the lull before the storm, with very few market moving economic numbers released during the week. However, the economic news flow picks up pace in the upcoming week, offering glimpses into every vehicle of economic growth, ranging from consumers to private sector activity to housing.... Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations.
comments powered by Disqus
Follow RTT