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USG Corp. (NYSE: USG), Chicago, IL, reported sales for the second quarter of $970 million, a 2.3 percent increase year-over-year. Profit for the quarter increased 38.6 percent to $79 million.
L&W Supply Corp., USG's distribution business, reported sales for the quarter of $364 million, up 5.8 percent year-over-year. Operating profit for the quarter was up 125 percent to $9 million.
“All of our businesses expanded their margins and contributed to our strong second quarter,” said James S. Metcalf, president & CEO. “We generated the highest level of net income since the fourth quarter of 2006 when demand was fifty percent higher.”
Year-to-date sales for USG were $1.9 billion, up 4.5 percent over the prior-year period. Profit increased 1 percent to $103 million.
Year-to-date L&W Supply Corp. sales were $698 million, up 8.4 percent. Year-to-date operating profit increased 160 percent to $13 million.