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 RTT Staff Writer
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