USG reports 1Q loss on sluggish demand

By Ameet Sachdev
Posted today at 8:33 a.m.

USG Corp. reported a first-quarter loss that was slightly lower than a year ago, as demand for its building products remains sluggish.

The Chicago-based manufacturer of wallboard and other products reported a net loss of $105 million, or $1.01 a share, in the period ending March 31. In the year-ago quarter, USG reported a net loss of $110 million, or $1.10 a share.

Sales were up 1 percent to $721 million, from $716 million.

The company said the market for new residential construction continues to be weak, but it sees signs of stability in the U.S. commercial market as well as in the residential home improvement industry.

USG took a $9 million charge in the first quarter for restructuring.

Read more about the topics in this post: , ,

Companies in this article

Leave a comment

Required. Your email address will not be published.