This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

USG Corporation Reports 2012 First Quarter Results

USG Corporation (NYSE:USG), a leading building products company, today reported first quarter 2012 net sales of $812 million, up 13 percent from first quarter 2011 net sales of $721 million. USG’s first quarter operating profit was $27 million compared to a $58 million operating loss in the first quarter of 2011. The first quarter 2012 net loss after-tax was $27 million or $0.26 per share. This result compares to a $105 million net loss in the first quarter of 2011 or $1.01 per share.

“Despite continuing low demand, our emphasis on achieving operating profit is succeeding, and continues to be a top priority,” said James S. Metcalf, Chairman, President and CEO. “Our focus on our customers, innovation and growing our adjacent businesses contributed to our first quarter results. All units showed improved results, supported by a modest increase in U.S. wallboard demand and solid performance across our product lines including ceilings, substrates and joint compounds. Of particular note is the market enthusiasm over our expanding line of SHEETROCK ® Brand UltraLight Panels products, which now include both SHEETROCK ® Brand UltraLight Panels FIRECODE ® 30 and SHEETROCK ® Brand UltraLight Panels FIRECODE ® X, as well as our SHEETROCK ® Brand UltraLightweight All Purpose Joint Compound.”

The corporation’s adjusted operating profit was $29 million in the first quarter of 2012, which compares to an adjusted operating loss of $49 million in the first quarter of 2011. The adjusted operating profit for the first quarter of 2012 excludes $2 million of restructuring and asset impairment charges. The adjusted operating loss for the first quarter of 2011 excludes $9 million of restructuring and asset impairment charges.

“Although demand in our core markets still remains near historical lows,” Metcalf said, “we are confident our strategy will continue to move us toward positive net earnings.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,546.55 -143.31 -0.81%
S&P 500 2,089.49 -14.35 -0.68%
NASDAQ 5,097.6990 -30.5820 -0.60%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs