USG Corp. (USG)

[Enterprising Investor]

USG Corporation Reports Preliminary, Unaudited 2013 Third Quarter Results (10/16/13)

CHICAGO--(BUSINESS WIRE)--USG Corporation (NYSE:USG), a leading building products company, issued a press release today announcing its planned joint venture with Boral Corporation.

In conjunction with that announcement, USG Corporation is releasing preliminary, unaudited results for the quarter ended September 30, 2013. For the three months ended September 30, 2013, USG Corporation expects to report net sales of approximately $925 million, net income of approximately $23 million, and diluted net income per common share of approximately $0.21. For the three-month comparative period in 2012, USG reported net sales of $828 million, net loss of $29 million and diluted net loss per common share of $0.28. USG attributes the year over year improved results to better wallboard price and volume and positive operating results at L&W Supply, partially offset by higher SG&A expense as expected and lower profitability from its shipping company, GTL, due to timing of shipments in the second half of the year.

The preliminary, unaudited results presented herein are based on currently available information. These preliminary, unaudited results are subject to the completion of USG’s quarterly closing and review procedures and the regular quarterly review process of its independent registered public accounting firm. As a result, the information presented herein is subject to change.

As previously announced, a conference call and webcast to discuss third quarter, 2013 results will be held at 10:00 a.m. Central Time on October 24, 2013.

USG Corporation

USG Corporation is a manufacturer and distributor of innovative, high-performance building systems through its United States Gypsum Company, USG Interiors, LLC, L&W Supply Corporation and other subsidiaries. Headquartered in Chicago, USG Worldwide operations serve the commercial, residential, and repair and remodel construction markets, enabling our customers to build the outstanding spaces where people live, work and play. USG wall, ceiling, exterior sheathing, flooring underlayment and roofing systems provide leading-edge building solutions, while L&W Supply branch locations efficiently stock and deliver building materials throughout the United States. USG and its subsidiaries are proud sponsors of the U.S. Olympic and Paralympic teams and the Canadian Olympic team. For additional information, visit www.usg.com.

http://www.businesswire.com/news/home/20131016006595/en/USG-Corporation-Reports-Preliminary-Unaudited-2013-Quarter