For the first quarter USG reported earnings of 14 cents a share, missing the Capital IQ Consensus Estimate of 19 cents a share by 5 cents. Revenue rose 4.4% year-over-year to $850 million for the quarter, though it fell short of the $872.71 million consensus.
The company reported an operating profit of $66 million for the first quarter, compared to a $49 million operating profit in the first quarter of 2013.
"Despite the harsh winter conditions across most of the United States during the first quarter, we delivered positive operating results and net income," chairman, president, and CEO James S. Metcalf said in a statement. "We also made significant progress with our Plan to Win by finalizing our joint venture with Boral and calling the remaining $75 million in 10% convertible notes."
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TheStreet Ratings team rates USG CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate USG CORP (USG) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."