During Friday’s Current trade, Shares of USG Corporation (NYSE:USG), lost -0.44% to $31.48.
USG Corporation (USG), a leading building products company, recently stated results for the second quarter of 2015. “All of our businesses expanded their margins and contributed to our strong second quarter,” said James S. Metcalf, Chairman, President, and CEO. “We generated the highest level of net income since the fourth quarter of 2006 when demand was fifty percent higher.”
On a merged basis in the second quarter of 2015, net sales were $970 million, up 2 percent from the second quarter of 2014. Operating profit improved 7 percent to $105 million. The corporation’s adjusted operating profit was $118 million in the second quarter of 2015, contrast to an adjusted operating profit of $87 million in the second quarter of 2014.
USG generated $79 million in net income and $0.54 per diluted share in the second quarter of 2015. On an adjusted basis, net income of $78 million and diluted earnings per share of $0.53 raised over 80 percent. Adjusted results exclude results from Gypsum Transportation Limited (GTL), a shipping operation that the Company has exited, comprised of in the Gypsum segment. A full reconciliation of GAAP to adjusted metrics is set forth on a plan attached hereto.
USG Corporation, through its auxiliaries, operates as a manufacturer and distributor of building materials worldwide. Its Gypsum segment provides gypsum and related products that are used to construct walls, ceilings, roofs, and floors of residential, commercial, and institutional buildings, in addition to in various industrial applications. It provides gypsum panels; and a line of joint compounds, corner beads, and tape that are used for finishing wallboard joints under SHEETROCK brand.
Shares of Media General Inc (NYSE:MEG), declined -1.21% to $12.23, during its current trading session.
Media General Inc (MEG) declared that Steve Watt has been designated Vice President and General Manager of WKRN-TV, its ABC associate in Nashville, Tennessee.
Mr. Watt was promoted to this position after serving as the station’s General Sales Manager since 2008. During his tenure, he successfully built WKRN-TV’s brand recognition with advertisers, developed innovative sales strategies, and led the sales organization through a period of unprecedented growth. He will succeed Stan Knott who was elevated to Vice President of Broadcast Markets for Media General.
Commenting on the declarement, Deborah A. McDermott, Chief Operating Officer for Media General, said: “Steve is a highly planned and skilled broadcast executive who has been involved in every aspect of WKRN’s operation. He brings a forward-thinking approach to news, sales and promotions across all screens. He also has a genuine, heartfelt commitment to meeting the needs of our viewers and advertisers. He is the ideal candidate and very deserving of this promotion.
Media General, Inc. owns and operates television stations in the United States. It operates 71 network-associated stations, and their associated digital media and mobile platforms, counting 22 CBS stations, 14 NBC stations, 12 ABC stations, 8 FOX stations, 7 MyNetworkTV stations, 7 CW stations, and 1 Telemundo station in 48 markets.
Wyndham Worldwide Corporation (NYSE:WYN), during its Friday’s current trading session decreased -0.70% to $77.49.
Wyndham Hotel Group is set to expand its presence in South Korea by more than 200 percent over the next three years thanks to the signings of 12 new property franchise agreements so far in 2015, counting agreements for three Howard Johnson® hotels, marking the brand’s entry into South Korea.
This year’s signings build upon another 14 franchise agreements in South Korea executed by Wyndham Hotel Group in 2014, bringing the company’s pipeline in the country to more than 7,550 rooms within 26 new-construction hotels under the Ramada®, Days Inn® and Howard Johnson brand flags. Presently, Wyndham Hotel Group has 13 properties and more than 2,800 rooms open and operating in the country.
Wyndham Worldwide Corporation provides hospitality services and products to individual consumers and business customers worldwide. It operates three in segments: Lodging, Vacation Exchange, and Rentals, and Vacation Ownership. The Lodging segment franchises hotels in the upscale, upper midscale, midscale, economy, and extended stay segments, in addition to provides property administration services for full-service and select limited-service hotels. As of February 4, 2015, the company had about 7,440 franchised hotels and 638,300 hotel rooms.
Finally, Kraft Heinz Co (NASDAQ:KHC), decreased -0.16%, to $74.13.
The Kraft Heinz Company (KHC) stated second quarter results for Kraft Foods Group, Inc. (“Kraft”) and H.J. Heinz Holding Corporation (“Heinz”) for the periods ended June 27, 2015, and June 28, 2015, respectively. Kraft Heinz filed a Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) containing a detailed talk aboution of Kraft’s second quarter results in addition to a Form 10-Q containing a detailed talk aboution of Heinz’s second quarter results. Subsequent to the end of the second quarter, the company successfully accomplished the merger of Kraft and Heinz.
The company remains confident in its ability to deliver against its initial financial expectations for the merger of Kraft and Heinz, counting its expectation to generate aggressive, run-rate cost savings of $1.5 billion by the end of 2017, inclusive of savings from productivity and cost savings initiatives contemplated preceding to the merger. As a matter of practice, however, Kraft Heinz does not expect to issue or update earnings guidance going forward.
The Kraft Heinz Company, through its auxiliaries, operates as a food and beverage company in North America and internationally. It primarily offers food and beverage products, counting cheese, meats, refreshment beverages, coffee, packaged dinners, refrigerated meals, snack nuts, dressings, ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition, and other food and grocery products. The company offers its products under the brands, counting Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones, and Velveeta.
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