US: USG’s operating profit fell by 7% year-on-year to US$367m in 2017 from US$394m in 2016. Its net sales rose by 6% to US$3.2bn from US$3.02bn. In the fourth quarter the company reported that wallboard volumes in the US increased approximately by 14% while prices declined by 4% year-on-year. It made a net loss of US$95m in the quarter, in part due to a US$138m income tax expense resulting from the Tax Cut and Reform Bill.
“We had an outstanding close to a solid year for USG. The combination of focused operational performance by our manufacturing facilities and a high level of service to our customers enabled us to profitably grow our business, with net sales increasing by 13% and adjusted operating profit by 10%,” said Jennifer F Scanlon, president and chief executive officer of USG.
