UPDATE 1-USG Corp 1st-qtr beats market expectations
* Q1 shr loss $0.26 vs est shr loss $0.42
* Q1 rev rose 13 pct
April 17 (Reuters) - Building products maker USG Corp posted a narrower-than-expected quarterly loss, helped by higher prices and stronger demand for wallboard in the United States.
The company posted a first-quarter loss of $27.0 million, or 26 cents per share, compared with a loss of $105.0 million, or $1.01 per share, a year ago.
Analysts were expecting a loss of 42 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 13 percent to $812.0 million, beating analysts' estimates of $807.2 million.
USG's largest unit United States Gypsum Company, which contributes about 43 percent of USG's total revenue, reported an operating profit of $29 million, compared with an operating loss of $29 million, a year ago.
The company -- which serves construction, as well as repair and remodel markets -- said demand in its core markets remains near historical lows.
USG shares, valued at $1.78 billion, were up 3 percent at $17.35 in early trading on the New York Stock Exchange.
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Four dead in apparent Connecticut murder-suicide
- South Korea expands air defense zone to partially overlap China's |
- Singer Susan Boyle reveals she has Asperger's syndrome: paper
- Winter storm pushes up U.S. East Coast after deep-freeze in the South