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USG Corporation (USG)

  • Fri, Feb. 6, 3:58 PM
    • USG (USG -4.6%) is downgraded to Equal Weight from Overweight with a $29 price target, cut from $33, at Barclays, following disappointing Q4 earnings with a number of unusual items that occupied much of the Q&A on the earnings conference call.
    • Q4 results came in below consensus, as decent core U.S. drywall and Boral JV results were overshadowed by weakness in GTL shipping, Canada and Mexico, and hedging losses.
    • CEO James Metcalf wound up answering an inordinate number of questions about ocean shipping - an obscure corner of his business - after USG wrote down the value of its shipping assets by $60M and said it might sell the vessels.
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  • Jan. 2, 2014, 8:34 AM
    • Boosting his bet on the building industry, Warren Buffett (BRK.A, BRK.B) discloses a 30.5% stake in USG. He now owns 43.4M shares vs. about 17M at last report.
    • USG +2.2% premarket
    • SEC Form 13D
  • Oct. 16, 2013, 6:32 PM
    • USG Corp. (USG) -5.9% AH after issuing downside guidance for Q3, seeing EPS of $0.21 vs. $0.29 analyst consensus and revenues of $925M vs. $936M consensus.
    • USG attributes the results, which are an improvement Y/Y, to better wallboard price and volume and positive operating results at L&W Supply, partially offset by higher SG&A expense as expected and lower profitability from its GTL shipping company due to timing of shipments in H2.
    • Also, USG announces a plasterboard and ceilings joint venture with Australian peer Boral Ltd.; in order to achieve a 50% interest in the JV, USG will pay Boral total cash payments of up to $575M.
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  • Oct. 16, 2013, 5:35 PM
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  • Jun. 20, 2013, 12:30 PM
    USG (USG -4.5%) slips in tandem with a weak homebuiling sector today, but gets an added prod from Wedbush, who initiated the shares this morning with a Neutral rating and a price target of $28. The firm cites choppiness in the commercial construction market, and says that its valuation already reflects growth and margin expansion over the next two years.
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  • Apr. 22, 2013, 1:44 PM
    USG (USG +2%-) gets a boost today after Credit Suisse ups the shares to Neutral on valuation and raises its price target from $22 to $27. The firm says recent checks of the wallboard market indicate that price increases appear to be sticking with no significant impact to sales volume, although distributors who deal more with commercial/non-residential markets have yet to see meaningful volume improvement. It's anticipating stronger trends as the year progresses, with wallboard pricing of +20% in FY13 and +8% in FY14.
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  • Mar. 25, 2013, 2:22 PM
    The steep afternoon drop in shares of USG (USG -5.5%) and Eagle Materials (EGLE -2.2%) is tied to a research note by analysts at Cleveland Research, which says its checks showed slippage in wallboard pricing, especially in the eastern U.S. Shares had plunged 9.2% and 4.5%, respectively, at their lowest points about an hour ago.
  • Feb. 6, 2013, 8:41 AM
    USG (USG): Q4 EPS of -$0.11 beats by $0.16. Revenue of $815M (+12% Y/Y) beats by $25M. Shares +3.6% premarket. (PR)
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  • Oct. 18, 2012, 8:51 AM
    More on USG: Drywall sales of 1.20 BSF up 14.3% Y/Y. Realized selling price of $131.97 vs. $132.09 in Q2, $111.16 a year ago. Operating profit swings to a $32M gain from a $20M loss a year ago. "Wallboard demand remains significantly below historical averages," says CEO James Metcalf. Shares -5% premarket after pricing in housing market nirvana with their 124% gain YTD. (PR)
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  • Oct. 18, 2012, 8:38 AM
    USG (USG): Q3 EPS of -$0.28 misses by $0.18. Revenue of $828M (+9% Y/Y) misses by $39M. Shares -7.4% premarket. (PR)
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  • Sep. 13, 2012, 9:16 AM
    Building material names (possibly far ahead of true housing recovery) are set to take a hit as heavy-hitter Ivy Zelman reportedly downgrades USG Corp. to Sell, Stanley Black & Decker (SWK) to sell, and Owens Corning (OC) to hold. USG -4.3% premarket, OC -2% premarket. (h/t Marc Lehman)
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  • Sep. 13, 2012, 9:10 AM
    Premarket gainers: EQIX +14%. VICL +13%. APRI +13%. LRN +10%. PLL +7%. CTIC +5%.
    Losers: CCRT -29%. PSTI -17%. FMER -7%. USG -6%. HK -5%.
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  • Jul. 25, 2012, 9:16 AM
    Premarket gainers: RVBD +26%. ACOM +16%. LL +14%. VHC +13%. INVN +13%. REGN +13%. ALTR +11%. SYMC +10%. DEXO +10%. SPPI +10%. TPX +9%. PSTI +8%. PNRA +8%. GALT +8%. JNPR +7%. ARMH +7%. ALXN +6%. BRCM +6%. STEM +5%.
    Losers: RSH -22%. NFLX -20%. TRIP -15%. IGT -12%. BWLD -11%. RFMD -10%. WLP -10%. USG -6%. WFT -6%.
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  • Jul. 25, 2012, 9:02 AM
    USG (USG): Q2 EPS of -$0.15 misses by $0.02. Revenue of $825M (+8.4% Y/Y) misses by $23M. Shares -4.8% premarket. (PR)
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  • May 29, 2012, 12:23 PM
    USG (USG +4.6%) moves up after being upgraded to Buy at Longbow earlier today. The firm cites higher wallboard volume trends and expectations for revenue acceleration.
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  • Apr. 17, 2012, 8:43 AM
    USG (USG): Q1 EPS of -$0.26 beats by $0.16. Revenue of $812M (+12.6% Y/Y) beats by $5M. Shares +1.1% premarket. (PR)
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Company Description
USG Corp through its subsidiaries is engaged in manufacturing and distribution of building materials. Its products are used in new residential, new nonresidential and residential and nonresidential repair & remodel construction.