Louisiana-Pacific Corp. Q3 Adj. Profit Declines; Net Sales Down 15%

(RTTNews) - Louisiana-Pacific Corp. (LPX) reported that its third quarter income attributed to LP from continuing operations decreased to $118 million from $129 million, prior year. Income attributed to LP from continuing operations per share decreased to $1.63 from $1.74. Adjusted EPS was $1.62, compared to $1.72. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.54, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales declined to $728 million from $852 million, previous year. Analysts on average had estimated $727.17 million in revenue. This included a decrease in Siding segment revenue of 13%, due to 16% lower volumes partially offset by 3% higher prices. OSB segment revenue decreased by 14%, driven by 19% lower volumes and 6% higher average selling prices.

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