USG Corporation, a leading building products company, reported its strongest quarterly net income since 2007. Second quarter 2014 GAAP net income was $57 million, compared to net income of $25 million, in the second quarter of 2013.
Second quarter 2014 net sales of $948 million were up 3 percent from second quarter 2013 net sales of $916 million.
"I'm pleased to report our best quarterly results in seven years," said James S. Metcalf, Chairman, President, and CEO. "Despite slower than expected acceleration in industry opportunity, most of our businesses and products improved their performance from a year ago and we also recorded our first full quarter of operations in our USG Boral joint venture."
"We remain confident in the recovery, but challenges in the macro-economic environment still exist," Mr. Metcalf said. "However, we believe that the second half of the year will be better than the first half and we are well positioned to capitalize on the improving opportunity."
USG Corporation is a manufacturer and distributor of innovative, high-performance building systems through its United States Gypsum Company, USG Interiors, LLC, and L&W Supply Corporation subsidiaries and its USG Boral Building Products joint venture. Headquartered in Chicago, USG worldwide operations serve the commercial, residential, and repair and remodel construction markets, enabling our customers to build the outstanding spaces where people live, work and play. USG wall, ceiling, exterior sheathing, flooring underlayment and roofing systems provide leading-edge building solutions, while L&W Supply branch locations efficiently stock and deliver building materials throughout the United States. USG Boral Building Products is a leading plasterboard & ceilings joint venture across Asia, Australasia, and the Middle East. USG and its subsidiaries are proud sponsors of the U.S. Olympic and Paralympic teams and the Canadian Olympic team. For additional information, visit www.usg.com.