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USG Corporation’s (USG - Free Report) fourth-quarter adjusted earnings per share of 53 cents beat the Zacks Consensus Estimate of 41 cents by 29.3%. Earnings reflect a solid 20.5% jump from the year-ago quarter’s 44 cents.
Revenue Discussion
Total revenues of $831 billion surpassed the Zacks Consensus Estimate of $757 million by 9.8%. Revenues increased 13.2% year over year.
The U.S. Wallboard & Surfaces segment reported sales of $499 million compared with $440 million in the prior-year quarter. Wallboard volumes in the United States increased approximately 14%, while wallboard price was down 4% year over year. Surfaces products drove $2 million of improved profitability in the U.S. Wallboard & Surfaces segment.
The U.S. Performance Materials segment reported revenues of $95 million, up 10.5% year over year. The U.S. Ceilings segment reported revenues of $122 million more than $102 million in the prior-year quarter.
Operating Highlights
Adjusted operating profit increased 10.4% to $106 million in the quarter from the fourth quarter of 2016.
Adjusted operating profit at the U.S. Wallboard & Surfaces segment rose by $8 million, while the same at the Performance Materials segment declined by $3 million and increased by $9 million at the Ceilings segment from the fourth quarter of 2016.
Total revenues of $3.2 billion increased 6.7% year over year. Earnings per share of $1.80 in 2017 reflects an improvement over the year-ago quarter’s $1.70.
Financials
As of Dec 31, 2017, cash and cash equivalents were $394 million, down from $427 million at the end of 2016.
USG announced a $250-million hike in its share repurchase program, raising the total authorization to $500 million. As of Dec 31, 2017, $66 million remained under the previously authorized $250-million share buy-back program.
PulteGroup’s (PHM - Free Report) fourth-quarter 2017 adjusted earnings of 85 cents per share beat the Zacks Consensus Estimate of 84 cents by 1.2%. Also, earnings reflect a 27% jump from the year-ago quarter’s 67 cents.
NVR, Inc. (NVR - Free Report) reported fourth-quarter 2017 adjusted earnings of $43.41 per share, missing the Zacks Consensus Estimate of $48.95 by 11.3%. Without the adjustment, NVR reported earnings of $28.88 per share, down 24% year over year.
Upcoming Release
Louisiana-Pacific (LPX - Free Report) is scheduled to release quarterly numbers on Feb 13. The consensus estimate for fourth-quarter earnings is pegged at 58 cents, reflecting an increase of 152.2% on a year-over-year basis.
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USG Beats Q4 Earnings Estimates, Raises Share Repurchase
USG Corporation’s (USG - Free Report) fourth-quarter adjusted earnings per share of 53 cents beat the Zacks Consensus Estimate of 41 cents by 29.3%. Earnings reflect a solid 20.5% jump from the year-ago quarter’s 44 cents.
Revenue Discussion
Total revenues of $831 billion surpassed the Zacks Consensus Estimate of $757 million by 9.8%. Revenues increased 13.2% year over year.
The U.S. Wallboard & Surfaces segment reported sales of $499 million compared with $440 million in the prior-year quarter. Wallboard volumes in the United States increased approximately 14%, while wallboard price was down 4% year over year. Surfaces products drove $2 million of improved profitability in the U.S. Wallboard & Surfaces segment.
The U.S. Performance Materials segment reported revenues of $95 million, up 10.5% year over year. The U.S. Ceilings segment reported revenues of $122 million more than $102 million in the prior-year quarter.
Operating Highlights
Adjusted operating profit increased 10.4% to $106 million in the quarter from the fourth quarter of 2016.
Adjusted operating profit at the U.S. Wallboard & Surfaces segment rose by $8 million, while the same at the Performance Materials segment declined by $3 million and increased by $9 million at the Ceilings segment from the fourth quarter of 2016.
USG Corporation Price, Consensus and EPS Surprise
USG Corporation Price, Consensus and EPS Surprise | USG Corporation Quote
2017 Highlights
Total revenues of $3.2 billion increased 6.7% year over year. Earnings per share of $1.80 in 2017 reflects an improvement over the year-ago quarter’s $1.70.
Financials
As of Dec 31, 2017, cash and cash equivalents were $394 million, down from $427 million at the end of 2016.
USG announced a $250-million hike in its share repurchase program, raising the total authorization to $500 million. As of Dec 31, 2017, $66 million remained under the previously authorized $250-million share buy-back program.
Zacks Rank
USG sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Peer Releases
PulteGroup’s (PHM - Free Report) fourth-quarter 2017 adjusted earnings of 85 cents per share beat the Zacks Consensus Estimate of 84 cents by 1.2%. Also, earnings reflect a 27% jump from the year-ago quarter’s 67 cents.
NVR, Inc. (NVR - Free Report) reported fourth-quarter 2017 adjusted earnings of $43.41 per share, missing the Zacks Consensus Estimate of $48.95 by 11.3%. Without the adjustment, NVR reported earnings of $28.88 per share, down 24% year over year.
Upcoming Release
Louisiana-Pacific (LPX - Free Report) is scheduled to release quarterly numbers on Feb 13. The consensus estimate for fourth-quarter earnings is pegged at 58 cents, reflecting an increase of 152.2% on a year-over-year basis.
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
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