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USG Corp. (NYSE: USG), Chicago, IL, reported sales for the second quarter of $948 million, a 3.5 percent increase year-over-year. Profit for the quarter was $57 million, compared to a profit of $25 million the prior-year quarter.
L&W Supply Corp., USG's distribution business, reported sales for the quarter of $344 million, up 7.8 percent year-over-year. Operating profit for the quarter was $4 million, compared to a profit of $1 million the prior-year quarter.
“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,” said James Metcalf, president and CEO.“We remain confident in the recovery, but challenges in the macro-economic environment still exist.”
Year-to-date sales for USG were $1.8 billion, up 3.9 percent over the prior-year period. Profit increased to $102 million, compared to $27 million the prior-year period. Year-to-date L&W Supply Corp. sales were $644 million, up 7.3 percent. Year-to-date operating profit for L&W was $5 million, compared to a loss of $1 million the prior-year period.