Shares of USG (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 Hathaway boosted 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.
