Louisiana-Pacific Corporation’s (NYSE:LPX) first quarter loss narrowed, beating estimates. Louisiana-Pacific is engaged in the manufacture of building products. It operates in three segments: Oriented Strand Board, Siding, and Engineered Wood Products.
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Louisiana-Pacific Earnings Cheat Sheet for the First Quarter
Results: Loss narrowed to $11.3 million (loss of 8 cents per diluted share) from $23 million (loss of 18 cents per share) in the same quarter a year earlier.
Revenue: Rose 9% to $361.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Louisiana-Pacific Corporation reported an adjusted net loss of 6 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 15 cents per share. It beat the average revenue estimate of $349.4 million.
Quoting Management: “All of our North American segments outperformed the same quarter last year,” said Curt Stevens, chief executive officer. “For the first time in many years, the housing news has been positive and this was reflected in our results. Of particular note was the performance of our Siding segment where operating profit improved by more than 30 percent compared to the same quarter last year and more than doubled compared to last quarter.”
The company trumped estimates last quarter after falling shy in the two quarters prior. In the fourth quarter of the last fiscal year, it missed the mark by 13 cents, and in the third quarter of the last fiscal year, it came in under estimates by 2 cents.
Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 1.6% to $312.2 million in the fourth quarter of the last fiscal year from the year earlier.
Looking Forward: For the next quarter, analysts are increasingly pessimistic about the company’s performance. The average estimates for the second quarter is at a loss of 10 cents per share, down from 8 cents ninety days ago. The average estimate for the fiscal year is now a loss of 47 cents per share, up from 50 cents sixty days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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