Last $29.02 USD
Change Today -0.17 / -0.58%
Volume 492.9K
As of 1:13 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

usg corp (USG) Key Developments

USG Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

USG Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's net sales were $948 million compared to $916 million a year ago. Operating profit was $98 million compared to $74 million a year ago. Income from continuing operations before income taxes was $58 million compared to $27 million a year ago. Income from continuing operations was $58 million or $0.39 per diluted share compared to $25 million or $0.22 per diluted share a year ago. Net income was $57 million or $0.38 per diluted share compared to $25 million or $0.22 per diluted share a year ago. Adjusted operating profit - non-GAAP measure was $93 million compared to $76 million a year ago. Adjusted net income - non-GAAP measure was $48 million or $0.33 per basic share compared to $26 million or $0.24 per basic share a year ago. For the six months, the company's net sales were $1,798 million compared to $1,730 million a year ago. Operating profit was $164 million compared to $123 million a year ago. Income from continuing operations before income taxes was $108 million compared to $26 million a year ago. Income from continuing operations was $103 million or $0.72 per diluted share compared to $27 million or $0.24 per diluted share a year ago. Net income was $102 million or $0.71 per diluted share compared to $27 million or $0.24 per diluted share a year ago. Net cash provided by operating activities was $20 million compared to net cash used in operating activities of $45 million a year ago. Capital expenditures were $58 million compared to $46 million a year ago. Adjusted operating profit - non-GAAP measure was $162 million compared to $127 million a year ago. Adjusted net income - non-GAAP measure was $67 million or $0.48 per basic share compared to $25 million a year ago.

USG Corporation Announces Amendments to its By-Laws

On July 16, 2014, the Board of USG Corporation amended Article III, Section 2(a) of the company's By-Laws, to state that the number of directors constituting the Board shall not be less than eight or more than twelve. Previously, the By-laws provided that the number of directors constituting the Board shall not be less than nine or more than thirteen. At the same time, the Board also amended Article III, Section 2(d) of the company's By-Laws, to provide that in general, no non-employee director shall serve beyond the first annual meeting of stockholders following that director's 72 birthday. Previously, the By-laws provided that no non-employee director shall serve beyond the first annual meeting of stockholders following that director's 70 birthday.

USG Corporation Announces Resignation of Gretchen R. Haggerty as Director

USG Corporation announced that Ms. Gretchen R. Haggerty, previously a director with a term expiring in 2017, resigned as a director. Immediately thereafter, Ms. Haggerty was elected as a director with a term expiring in 2015 by the remaining members of the Board, at the board meeting held on July 16, 2014.

USG Corporation(NYSE:USG) added to Russell 1000 Index

USG Corporation will be added to the Russell 1000 Index.

USG Corporation(NYSE:USG) dropped from Russell 2000 Index

USG Corporation will be removed from the Russell 2000 Index.

 

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