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USG's income is highest in 7 years

USG Corporation touted its second quarter results, which brought in its highest quarterly net income since 2007.

Net sales for the three months ended June 30 came in at $948 million, an increase of 3.5% from $916 million year-over-year.

Net income for the quarter totaled $57 million, up from $25 million in the second quarter of 2013. An adjusted operating profit of $93 million was also a nice boost, up from $76 million.

“I’m pleased to report our best quarterly results in seven years,” said James Metcalf, chairman, president and CEO. “Despite slower than expected acceleration in industry opportunity, most of our businesses and products improved their performance from a year ago and we also recorded our first full quarter of operations in our USG Boral joint venture.”

Other highlights included an increase in shipments of U.S. Gypsum wallboard (from 1.29 BSF to 1.32 BSF). However, ceilings operating profit went down to $24 million compared to $26 million.

 


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