USG Corp. (USG) Tops Q4 EPS by 14c, Beats on Revenues

USG Corp. (NYSE: USG) reported Q4 EPS of $0.53, $0.14 better than the analyst estimate of $0.39. Revenue for the quarter came in at $831 million versus the consensus estimate of $757.83 million.

USG recorded $62 million in net loss, or $0.44 loss per diluted share, for the fourth quarter of 2017, compared to net income of $307 million, or $2.07 per diluted share, for the fourth quarter of 2016. Net loss in the fourth quarter of 2017 includes $138 million of income tax expense resulting from the Tax Cut and Reform Bill whereas 2016 net income includes $279 million of gain on sale of discontinued operations stemming from the sale of L&W Supply. On an adjusted basis, net income of $77 million, or $0.53 per diluted share, for the fourth quarter of 2017 increased from $65 million, or $0.44 per diluted share, for the fourth quarter of 2016. A full reconciliation of GAAP to adjusted metrics is set forth on an attached schedule.

Fourth Quarter 2017 vs. Fourth Quarter 2016

• Net sales increased to $831 million from $734 million
• Operating profit increased to $87 million from $59 million; adjusted operating profit increased to $106 million from $96 million
• Net loss of $62 million compared to net income of $307 million; adjusted net income increased to $77 million from $65 million
• Net loss in the fourth quarter of 2017 includes $138 million of income tax expense resulting from the Tax Cut and Reform Bill

Full Year 2017 vs. Full Year 2016

• Net sales increased to $3.2 billion from $3.0 billion
• Operating profit decreased to $367 million from $394 million; adjusted operating profit decreased to $438 million from $470 million
• Net income decreased to $95 million from $510 million; adjusted net income increased to $264 million from $251 million

For earnings history and earnings-related data on USG Corp. (USG) click here.

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