USG Earnings: Here’s Why Shares Are Falling Now
USG Corp. (NYSE:USG) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 4.5% on the loss.
USG Corp. Earnings Cheat Sheet
Results: Net loss decreased -87% to $13 million (11 cents per diluted share) in the quarter versus a net loss of $100 million in the year-earlier quarter.
Revenue: Rose 8.67% to $815 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: USG Corp. reported adjusted net income of 11 cents per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $789.97 million.
Quoting Management: “Our wallboard results were the strongest we have seen in over three years, and we achieved our fourth consecutive quarter of positive adjusted operating profit,” said James S. Metcalf, Chairman, President and CEO. “The results for Worldwide Ceilings and L&W Supply show the commercial markets remain choppy, but we continue to see signs of a housing recovery.”
Key Stats (on next page)…