Louisiana-Pacific (LPX) Q3 Earnings, Sales Lag Estimates
Zacks Investment Research | Nov 07, 2017 01:30AM ET
Louisiana-Pacific Corporation (NYSE:LPX) posted lower-than-expected earnings and revenues in the third quarter of 2017.
The company reported adjusted earnings per share of 70 cents in the third quarter of 2017, missing the Zacks Consensus Estimate of 75 cents by 6.7%. Earnings improved considerably from the year-ago quarter’s 32 cents.
Net sales of $718 million in the quarter lagged the Zacks Consensus Estimate of $763 million by 5.9%. However, net sales increased 20% year over year.
Earnings and revenues improved from the prior-year quarter driven by favorable product mix, increase in volume and higher pricing in the Oriented Strand Board (OSB) and siding segments.
Adjusted EBITDA from continuing operations was $192 million in the quarter, up 73% from $111 million in the prior-year quarter.
Louisiana-Pacific Corporation Price, Consensus and EPS Surprise
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PulteGroup Inc.’s (NYSE:PHM) third-quarter 2017 adjusted earnings of 60 cents per share beat the Zacks Consensus Estimate of 59 cents by 1.7%. Also, quarterly earnings reflected a solid 40% increase from the year-ago quarter’s 43 cents.
Masco Corporation’s (NYSE:MAS) adjusted earnings of 50 cents per share in third-quarter 2017 missed the Zacks Consensus Estimate of 53 cents by 5.7%. However, adjusted earnings increased 22% year over year.
Upcoming Release in the Construction Sector
D.R. Horton, Inc. (NYSE:DHI) is scheduled to release its quarterly numbers on Nov 9. The Zacks Consensus Estimate for earnings is pegged at 82 cents, an increase of 9.3% on a year-over-year basis.
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