L&W Supply Releases Latest Financial Figures

April 27th, 2010 by Editor

USG Corp., a building products company, reported first quarter 2010 net sales of $716 million, an operating loss of $82 million and a net loss of $110 million.

L&W Supply Corp. and its subsidiaries, which comprise USG’s building products distribution business, reported first quarter 2010 net sales of $248 million, down 30 percent compared to the first quarter of 2009. The decline in net sales was due primarily to lower shipments across most product categories and lower wallboard prices compared to the prior-year period as a result of weaker commercial and residential construction demand.

L&W Supply reported an operating loss of $39 million in the first quarter of 2010, which included restructuring charges totaling $8 million. In the first quarter of 2009, L&W Supply had an operating loss of $10 million, which included $1 million in restructuring charges. During the first quarter of 2010, L&W continued to restructure its business to reduce costs and respond to decreased demand for its products. It closed three distribution centers and further reduced its workforce. As of March 31, 2010, L&W Supply operated 161 centers.

Leave Comment