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USG Jumps to 5.5-Year High on Q4 Beat;

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detearing   Thursday, 02/06/14 11:35:59 AM
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USG Jumps to 5.5-Year High on Q4 Beat; 2013 Marks First Profitable Year Since 2007 02/06 08:21 AM

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11:21 AM EST, 02/06/2014 (MT Newswires) -- Shares of USG Corp. (USG:$31.886,0$2.446,08.31%) climbed to a 5.5-year high Thursday, after the building-materials maker reported Q4 results above Street forecasts, with a profit for the full year making 2013 the company's first profitable year since 2007.

Shares were up 13% at $33.22 recently, after trading at $33.36, the stock's highest level since June 2008.

The company reported a Q4 net loss of $4 million, or $0.03 per share, compared with a prior-year net loss of $12 million, or $0.11 per share. Excluding one-time items, it earned $0.19 per share in the latest quarter, compared with a loss of $0.48 per share a year earlier. Analysts polled by Capital IQ were expecting EPS of $0.10 for the latest period.

Revenue rose 12% to $915 million, topping analysts' consensus of $906.69 million.

For 2013, the company posted net income of $47 million, or $0.43 per share, with adjusted net income of $73 million, or $0.67 per share, representing its first full-year net income since 2007. In 2012, it had a net loss of $126 million, or $1.19 per share, with an adjusted net loss of $124 million, or $1.17 per share. The Street view was for 2013 EPS of $0.55.

Price: 33.22, Change: +3.78, Percent Change: +13


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Get more news on:SYMBOLS: USG NEWS TYPE: Company News, Earnings News, Earnings Release SECTORS: Materials, Construction Materials


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