LP Building Solutions Q4 Profit Beats Estimates; Net Sales Down 7%

(RTTNews) - Louisiana-Pacific Corporation (LPX) reported fourth quarter income from continuing operations, net of income taxes, attributed to LP common shareholders of $59 million compared to a loss of $10 million, prior year. Net income attributed to LP from continuing operations per share was $0.81 compared to a loss of $0.14. Adjusted profit per share increased to $0.71 from $0.61, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.55, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net sales decreased year-over-year by 7% to $658 million. Siding revenue decreased 14%, due to 15% lower volumes partially offset by 1% higher prices. OSB net sales increased 6%, driven by 9% higher prices partially offset by 3% lower volumes. Analysts on average had estimated $619.97 million in revenue.

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