NEW YORK (TheStreet) -- USG (USG) shares are up by 7.23% to $29.08 on Thursday morning, following the release of the company's 2015 second quarter earnings results.

The Chicago, IL-based building materials manufacturer reported second quarter quarter profit of $79 million, or 53 cents per diluted share on revenue of $970 million.

Analysts on average were expecting the company to report earnings of 47 cents per share on revenue of $998.7 million for the most recent quarter.

"All of our businesses expanded their margins and contributed to our strong second quarter. We generated the highest level of net income since the fourth quarter of 2006 when demand was 50% higher," CEO James Metcalf said in a statement.

"We made strides in all three phases of our 'Plan to Win' in the second quarter by strengthening our core operations, diversifying our earnings base, and differentiating USG through innovation. The outlook for all of our businesses is bright," Metcalf said.

Separately, 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 and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."

USG Chart USG data by YCharts