USG Corp. (NYSE: USG), Chicago, IL, reported sales for the second quarter of $825 million, a year-over-year increase of 8 percent. The building product company recorded a net loss for the period of $57 million, compared to a year-ago loss of $70 million.
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“Our businesses performed well in the second quarter despite weak demand compared to long-term averages,” Metcalf said. "We are seeing the signs of a recovery in our core markets, and will continue to focus on reducing costs and improving margins as we work towards positive net earnings," said James S. Metcalf, president and CEO.
For the first six months, sales were $1.6 billion, up 10.5 percent over the prior year period. The company recorded a net loss of $84 million, compared to a loss of $175 million a year ago.
L&W Supply Corp., USG's building products distribution company and No. 8 on MDM's list of top building materials distributors, sales increased 8.5 percent to $293 million. The segment reported an operating loss of $7 million, compared to a year-ago operating loss of $14 million. Sales for the first six months increased 9.7 percent year over year.
North American Gypsum sales grew 12.6 percent in the second quarter to $473 million, while Worldwide Ceilings sales grew 2 percent to $177 million. Operating profit for the two segments was $31 million and $22 million, respectively.
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