US: USG Corp has reported a surge in profit for the first quarter of 2014, primarily on increased shipments and higher selling prices.
Chief executive officer James Metcalf said, "Despite the harsh winter conditions across most of the US during the first quarter of 2014, we delivered positive operating results and net income."
USG said that its US gypsum wallboard shipments rose to 1.15Bnft2 (107Bnm2) from 1.11Bnft2 (103Bnm2), while average wallboard prices climbed to US$166.66/1000ft2 from US$153.07/1000ft2 in 2013. Net sales for the first quarter of 2014 grew to US$850m, up from US$814m in the corresponding quarter of 2013. USG's first quarter profit surged to US$45m from US$2m.
