USG Earnings: Curb Your Enthusiasm

James Cullen submits:

If you needed something to temper the bullishness that’s gripped the markets, here it is. Wallboard maker USG reported second quarter earnings Thursday. From the conference call:

Looking ahead at the remainder of 2009 and into next year, we are not expecting much improvement in our markets. More specifically, we are planning for low levels of residential construction, though some stabilization seems on the horizon, a continuing slowdown in repair and remodel and a fairly significant drop in new non-residential construction.

Read more…. »