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USG Corporation Reports 2014 Fourth Quarter and Full Year Results
CHICAGO--(BUSINESS WIRE)--February 5, 2015--USG Corporation (NYSE:USG):
Fourth Quarter 2014 vs. Fourth Quarter 2013
Consolidated Business Highlights
- Net sales increased 4 percent to $954 million
- Operating loss of $24 million compared to $60 million of operating profit due primarily to asset impairments used in non-core shipping business
- Adjusted operating profit of $79 million compared to $75 million
- Net loss attributable to USG of $53 million compared to $3 million
- Adjusted net income of $35 million compared to $22 million
USG Corporation (NYSE:USG), a leading building products company, today reported fourth quarter 2014 net sales of $954 million, up 4 percent from fourth quarter 2013 net sales of $915 million. USG’s fourth quarter 2014 operating loss was $24 million compared to $60 million of operating profit in the fourth quarter of 2013 due primarily to $75 million of charges for impairments and other related costs associated with its non-core shipping business and $13 million of charges to permanently settle a pension plan in the United Kingdom. Fourth quarter 2014 net loss attributable to USG was $53 million, $0.36 loss per diluted share, and $0.36 loss per basic share. This compares to a $3 million net loss attributable to USG, $0.03 loss per diluted share, and $0.03 loss per basic share in the fourth quarter of 2013.
The following information was filed by Usg Corp (USG) on Thursday, February 5, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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