USG Corp. (USG) reported that its fourth-quarter net loss widened to $598 million or $6.02 per share from $349 million or $3.52 per share last year.
The company noted that the net loss included a non-cash, $548 million deferred tax asset valuation allowance, $31 million of restructuring, impairment and other charges, and $97 million of income from the settlement of a lawsuit.
On average, 12 analysts polled by Thomson Reuters expected the company to report a loss of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales decreased to $720 million from $981 million last year. Analysts expected revenue of $759.06 million for the quarter.
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