Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Louisiana-Pacific Swings To Profit, But Misses Estimate - Update

RELATED NEWS
Trade LPX now with 

Building products company Louisiana-Pacific Corp. (LPX: Quote), Friday reported a swing to fourth-quarter profit, reflecting strong sales of its structural products as well as other businesses. Nonetheless, the company's earnings missed Street estimates, while sales exceeded expectations.

Moving forward, the company sees an improvement in business conditions.

The Nashville, Tennessee-based company reported fourth-quarter net income of $46 million or $0.32 per share, compared with net loss of $57 million or $0.42 per last year.

Excluding items, adjusted earnings from continuing operations for the quarter were $26 million or $0.18 per share. On average, 14 analysts polled by Thomson Reuters expected earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter jumped 47 percent to $458.7 million from $312 million in the prior year. Analysts on consensus estimated revenues of $443.79 million.

At OSB segment, which makes structural panel products, sales jumped 86 percent from last year. The company said that it has indefinitely curtailed three facilities at the segment due to market conditions, but has plans to restart one facility in early 2013.

Siding segment sales grew 25 percent, and its Engineered Wood Products Segment gained 11 percent.

"At the recent International Builders' Show, builders were very upbeat. Despite some potential challenges associated with credit availability, the federal deficit and job growth, they expressed a great deal of confidence that housing starts will continue to improve in 2013," said CEO Curt Stevens.

Louisiana-Pacific is trading at $19.91, down 2.82%, on a volume of 1.8 million shares on the NYSE.

Register
To receive FREE breaking news email alerts for Louisiana Pacific and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.