The Company is a manufacturer of basic building materials including gypsum wallboard, cement, gypsum and non-gypsum paperboard and concrete and aggregates.
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The company makes gypsum wallboard, cement, gypsum paperboard and concrete. The company price has dropped some 38% from its high on worries that the houseing market is weakening. This may not be as bad as people think. With the residentual market weakening (if in fact it weakens and remains so) the industrial market is open for sending surplus building material. This segment of their business should remain very robust and utilization should remain over 95% which will allow future rate hikes. When natural gas prices decline more money can drop to the bottom line something worthy to footnote. Their PE is near 10 in an industy where PE are generally low, but this is not a high valuation for their industry.. The company just raised guidance for the first quarter from $1.10 to $1.20 and full year guidance from $3.67 to $4.00 per diluted share to $4.40 to $4.70 per diluted share, up 20%. Lengthy permit process toward the building of large cement plants keeps supplies low. Demand is high.
On July 24, 2006
http://biz.yahoo.com/prnews/060724/dam035.html?.v=59
Revenues were $260 million up 27%
Net income was $59 million up 69%
Diluted earnings per share was $1.16 compared to $0.64 up 81%
Total U.S. construction spending remains strong. According to the U.S. Census Bureau, total construction spending during May 2006 was estimated at a seasonally adjusted annual rate of $1.2 trillion, 6% above the May 2005 estimate.
The next report will be October 31, 2006
TTM is $3.54
Trading range $33 - $40.45
PE range was 9.322 and 11.42
On July 24, 2006 They reported their first quarter 2007 earnings report.
Revenues were $260 million up 27%
Net income was $59 million up 69%
Diluted earnings per share was $1.16 compared to $0.64 up 81%
Total U.S. construction spending remains strong. According to the U.S. Census Bureau, total construction spending during May 2006 was estimated at a seasonally adjusted annual rate of $1.2 trillion, 6% above the May 2005 estimate.
Their second quarter 2007 report will be October 31, 2006
Estimates for the second quarter 2007 --- $1.34
Estimates for the third quarter 2007 --- $1.07
Fiscal 2007 $4.55
Fiscal 2008 $4.75
TTM is $3.54
Trading range $33 - $40.45
PE range was 9.322 and 11.42
September 20th 2006 note
Asbestos? does it have any asbestos liabilty? remember USG and its bankruptcy?