Louisiana-Pacific Q2 Profit Rises, Matches View; But Revenues Miss - Quick Facts

(RTTNews) - Louisiana-Pacific Corp. (LPX) reported an increase in profit for the second quarter from last year on higher revenues. Adjusted earnings per share matched analysts' estimates, while revenues missed their expectations.

The company's second-quarter net income was $94.5 million or $0.65 per share, up from $31.7 million or $0.22 per share in the year-ago period.

Excluding items, adjusted income from operations was $84.1 million or $0.58 per share, compared to $40.0 million in the year-ago period.

Net sales for the quarter rose 19 percent to $694.1 million from $582.4 million last year.

On average, analysts polled by Thomson Reuters expected earnings of $0.58 per share for the quarter on revenues of $700.73 million. Analysts' estimates typically exclude special items.

"LP's strong financial results were driven by improved demand for our products and higher OSB pricing. Siding and EWP both generated revenue growth in excess of 10 percent with OSB pricing higher by 26 percent," Chief Executive Officer Brad Southern said.