Buffett Investment USG Convincingly Beats on Q4 EPS
Shares of USG are recording a double-digit rise following the release of the company's Q4 and fiscal 2013 results. For the quarter, net sales amounted to $915 million, up from the $815 million in the same period the previous year. Net income swung to a profit of $22 million ($0.19 per diluted share), against a Q4 2013 loss of $52 million ($0.48).
The most recent EPS figure was nearly double the average analyst expectation of $0.10. The consensus projection for quarterly net sales was $906 million.
For the full year, USG's top line came in at $3.6 billion, against the 2012 number of $3.2 billion. Net profit was $73 million ($0.67 per diluted share), a substantial improvement over the previous year's loss of $124 million ($1.17).
In the wake of the results announcement, the company's stock is up by 12%, or $3.60, to $33.04 in mid-afternoon trading.
USG attracted some notice early last month when Warren Buffett's Berkshire Hathawayboosted its stake in the firm following the conversion of a set of senior convertible notes. This gave Berkshire a holding of more than 30% in USG.
The article Buffett Investment USG Convincingly Beats on Q4 EPS originally appeared on Fool.com.Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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