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
Low-cost airline Allegiant Air announced its order for brand-new aircraft for the first time in its history. The carrier announced on Friday it had reached a deal to purchase 12 current-generation models of Airbus' A320 narrow-body jets. The company termed the deal as "another step towards Allegiant's... Los Angeles City officials have filed criminal charges against Soylent CEO Robert Rhinehart for placing a bright red shipping container on Montecito Heights hillside as part of his "experiment in sustainable living." City Attorney Mike Feuer Friday announced that his office has filed multiple criminal... A new study says that if Hillary Clinton is elected then her proposals will strengthen the U.S. economy and create millions of jobs. According to Moody's Analytics, Hillary Clinton's economic proposal would oversee a "somewhat stronger U.S. economy." The conclusion was reached after assessing her...
comments powered by Disqus
Follow RTT