USG Corp. (NYSE: USG), Chicago, IL, reported third quarter 2011 sales of $792 million, an increase of 4.5 percent over the same period a year ago. The building products company recorded a net loss for the period of $115 million, compared with a year-ago net loss of $100 million.
| We Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
\”Many of our key markets continue to experience recessionary levels of demand that are near record lows,\” said James S. Metcalf, president and CEO. \”To accomplish both our short-term objective of returning the company to an operating profit and our longer term aspiration of reducing volatility in our earnings, we will continue to execute our three strategic priorities: strengthening core businesses, diversifying earnings and differentiating USG through innovation.\”
For the first nine month, the company recorded a net loss of $290 million on sales of $2.3 billion, compared to a net loss of $284 million on sales of $2.2 billion in the first nine months of 2010.
Third-quarter sales for USG’s building products distribution company, L&W Supply, No. 7 on MDM’s list of top building materials distributors, were $283 million, compared to $281 million a year ago. L&W recorded an operating loss of $17 million for the period, versus a year-ago operating loss of $24 million.
North American Gypsum recorded an operating loss of $70 million on sales of $437 million in the third quarter of 2010, compared to a loss of $43 million on sales of $413 million a year ago.
Worldwide Ceilings third-quarter sales grew 5 percent to $183 million and reported an operating profit of $25 million.
