The 2020 Mid-Year Economic Update_long

USG Sales Up 2.3% in 2Q

L&W Supply sales up 5.8 percent in second quarter.

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.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.