Usg Corporation (USG) Tops Q1 EPS by 2c; Revised 2015 Spending Outlook

Usg Corporation (NYSE: USG) reported Q1 EPS of $0.29, $0.02 better than the analyst estimate of $0.27. Revenue for the quarter came in at $909 million versus the consensus estimate of $907.3 million.

“USG is off to a great start in 2015, led by the performance of our U.S. Gypsum and U.S. Ceilings businesses,” said James S. Metcalf, Chairman, President, and CEO. “We generated operating margin improvement in these businesses by achieving price increases, focusing on manufacturing cost control, and tailoring our spending on investments in these businesses.”

The corporation also revised its selling, general, and administrative (SG&A) spending outlook for the full year of 2015. “While we are seeing improvements in all of our end markets, we believe that this recovery will be more elongated than past housing and construction recoveries in the United States. To that end, we are scaling back our targeted SG&A spend in 2015 to improve free cash flow available for paying down debt,” Mr. Metcalf said. The corporation revised its projected full year 2015 SG&A expense downward by $20 million to $325 million.

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

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