logo
Plus   Neg
Share
Email

Louisiana-Pacific Posts Q1 Loss

Construction company Louisiana-Pacific Corp. (LPX) posted a loss in the first quarter of $14.2 million or $0.10 per share. This compares to a year-ago profit of $65.1 million or $0.45 per share.

On a non-GAAP basis, adjusted loss from continuing operations was $7 million or $0.05 per share. On average, ten analysts polled by Thomson Reuters expected loss per share of $0.07 for the quarter. Analysts' estimates typically exclude one-time items.

Total sales in the quarter fell 16 percent to $445 million. Analysts expected the company to generate revenues of $464.78 million.

Curt Stevens, CEO, said in a statement, "The severe weather across much of North America in the first quarter took a toll on building activity and logistics. The rail transportation systems in both the U.S. and Canada were in disarray in Q1, which caused unplanned downtime at our operations, increased inventory and late shipments and negatively affected our reported results."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
RELATED NEWS
Trade LPX now with 
Follow RTT