logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items. In an unusual incident, an Airbus operated by Singapore Airlines temporarily lost power on both its Rolls Royce engines during a flight and plunged almost 13,000 feet or 3.96 kilometers. However, pilots managed to save the Airbus through standard operational procedures and it continued on its routine path. Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet.
comments powered by Disqus
RELATED NEWS
Trade LPX now with 
Follow RTT