USG Corporation Hosts Inaugural Investor Day
March 08 2018 - 7:00AM
Business Wire
Outlines Corporate Strategy and Strategic
Initiatives; Reaffirms Full-Year 2018 Outlook and Introduces 2020
Financial Targets
USG Corporation (NYSE: USG), an industry-leading manufacturer of
building products and innovative solutions, will host its inaugural
Investor Day today from 9:00 a.m. to 12:30 p.m. Eastern Time
with presentations from Jennifer Scanlon, president and chief
executive officer, Matthew Hilzinger, chief financial officer, and
other senior members of USG’s management team. Management will
share insights into USG’s corporate strategy, key business and
product initiatives, reaffirm its 2018 outlook and introduce 2020
financial targets.
“In recent years, our company has taken strategic actions that
have strengthened the business and delivered greater value to our
customers,” said Jennifer Scanlon, president and chief executive
officer of USG Corporation. “We exited distribution, repaid over a
billion dollars of debt, initiated cost reduction initiatives and
introduced innovative new products. These actions transformed our
company, our products and our balance sheet while lowering our cost
structure and improving our competitive position. We are now
focused on executing our new corporate strategy which we believe
will drive sustained profitable growth and increase shareholder
value.”
Advance USG’s Leadership Position
Over the last several years, USG improved the financial and
operational position of the company by:
- Redefining its portfolio through
divestitures and strategic acquisitions to access faster growing
markets;
- Reducing costs and improving
efficiencies, including implementing new processes to lower working
capital;
- Optimizing its capital structure by
reducing debt and achieving its targeted 1.5 – 2.0x adjusted net
debt to EBITDA leverage ratio.
Building on these actions, USG’s corporate strategy seeks to
enhance the company’s leadership position in the building products
industry, achieve unparalleled customer loyalty and deliver
profitable growth.
Reaffirm 2018 Outlook and Introduce 2020 Financial
Targets
Management will reaffirm its 2018 financial and end market
outlook, which was disclosed on the fourth quarter earnings call on
February 1, 2018. Additionally, management will introduce estimated
2020 financial targets for the company’s four reportable segments.
Management will detail key business and product initiatives
underlying the financial targets.
According to Ms. Scanlon, “USG’s inaugural Investor Day will
provide an in-depth perspective of our strategic initiatives
designed to fuel profitable growth. We expect to execute on these
initiatives to achieve our financial targets, with the underlying
goals of achieving unparalleled customer loyalty and increasing
shareholder value.”
Webcast and Presentation Information
The live webcast and presentation materials are available at
USG’s investor relations website at http://investor.usg.com, in the
“Events and Presentations” section. To participate by phone, please
dial 1-669-900-6833. The pass code is 213161555. Please call 10
minutes prior to the start time. A replay of the webcast will be
available on the USG website until March 7, 2019.
About USG Corporation
USG Corporation is an industry-leading manufacturer of building
products and innovative solutions. Headquartered in Chicago, USG
serves construction markets around the world through its Gypsum,
Performance Materials, Ceilings, and USG Boral divisions. Its wall,
ceiling, flooring, sheathing and roofing products provide the
solutions that enable customers to build the outstanding spaces
where people live, work and play. Its USG Boral Building Products
joint venture is a leading plasterboard and ceilings producer
across Asia, Australasia and the Middle East. For additional
information, visit www.usg.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
related to management’s expectations about future conditions,
including, but not limited to, the success and impact of the
company’s new corporate strategy and initiatives on profitability
and shareholder value and financial and end market outlook. Actual
business, market or other conditions may differ materially from
management’s expectations and, accordingly, may affect our sales
and profitability or other results and liquidity. Any
forward-looking statements represent our views only as of today and
should not be relied upon as representing our views as of any
subsequent date and we undertake no obligation to update any
forward-looking statement. Actual results may differ materially due
to various other factors, including: economic conditions, such as
employment levels, the availability of skilled labor, household
formation, home ownership rate, new and existing home price trends,
availability of mortgage financing, interest rates, deductibility
of mortgage interest and real estate taxes, consumer confidence,
job growth and discretionary business investment; competitive
conditions and our ability to maintain or achieve price increases;
the loss of one or more major customers, including L&W, and the
increasing number of our customers with significant buying power;
increased costs, or decreased availability, of key raw materials,
transportation or energy; unexpected operational difficulties or
catastrophic events at our facilities; our ability to successfully
operate the joint venture with Boral Limited, including risks
that our joint venture partner, Boral Limited, may not fulfill
its obligations as an investor or may take actions that are
inconsistent with our objectives; exposure to risks of operating
internationally; our ability to innovate and protect our
intellectual property and other proprietary rights; our ability to
make capital expenditures and achieve the expected return on
investment; a disruption in our information technology systems;
compliance with environmental and safety regulations or product
safety concerns; the outcome in legal and governmental proceedings;
the ability of a small number of stockholders to influence our
business and stock price; our ability to successfully pursue and
complete acquisitions, joint ventures and other transactions to
complement or expand our businesses; significant changes in factors
and assumptions used to measure our defined benefit plan
obligations; our ability to return capital to stockholders; the
occurrence of an “ownership change” within the meaning of the
Internal Revenue Code; our ability pursue strategic opportunities
without increasing our debt and leverage ratio; the effects of acts
of terrorism or war upon domestic and international economies and
financial markets; and acts of God. We assume no obligation to
update any forward-looking information contained in this press
release. Additional information concerning these and other factors
may be found in our filings with the Securities and Exchange
Commission, including the “Risk Factors” in our most recent Annual
Report on Form 10-K.
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version on businesswire.com: http://www.businesswire.com/news/home/20180308005057/en/
USG CorporationMediaKathleen Prause,
312-436-6607kprause@usg.comorInvestorsWilliam Madsen,
312-436-5349Investorrelations@usg.com
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