Louisiana-Pacific Q1 Profit Declines

(RTTNews) - Louisiana-Pacific Corp. (LPX) reported that its first quarter income from continuing operations attributed to LP decreased year-over-year by 95%, to $21 million, or $0.29 per share. Adjusted EPS declined to $0.34 from $4.75. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.05, for the quarter. Analysts' estimates typically exclude special items.

Net sales from continuing operations decreased by 50% to $584 million, including 40% related to lower OSB prices. Analysts on average had estimated $621.34 million in revenue.

The company expects second quarter adjusted EBITDA to be greater than $80 million.

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