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USG Corporation Reports Third Quarter 2017 Results
Third Quarter 2017 vs. Third Quarter 2016
- Net sales increased to $795 million from $767 million
- Net income increased to $66 million from $62 million; adjusted net income decreased to $68 million from $69 million
- Earnings per diluted share increased to $0.46 from $0.42; adjusted earnings per diluted share increased to $0.47 from $0.46
- Repurchased $56 million of common stock under $250 million share repurchase program
CHICAGO--(BUSINESS WIRE)--October 26, 2017--USG Corporation (NYSE:USG), an industry leading manufacturer of building products and innovative solutions, today reported results for the third quarter of 2017.
“We had positive momentum in the third quarter, with increased net sales and wallboard volume,” said Jennifer Scanlon, President and CEO of USG Corporation. “We are well positioned for growth as we continue to provide innovative solutions for our customers’ challenges.”
On a consolidated basis in the third quarter of 2017, net sales were $795 million, compared to $767 million in the third quarter of 2016. Operating profit decreased to $93 million from $97 million, while adjusted operating profit decreased to $111 million from $127 million in the third quarter of 2017 compared to the third quarter of 2016. Higher input costs in the Gypsum and Ceilings businesses were the primary driver of the decrease.
The following information was filed by Usg Corp (USG) on Thursday, October 26, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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