Louisiana-Pacific's (LPX) Stock Declines As Q3 Earnings Miss
Zacks Investment Research | Nov 05, 2019 09:10PM ET
Shares of Louisiana-Pacific Corporation (NYSE:LPX) declined more than 4% on Nov 5 as it reported lower-than-expected third-quarter 2019 results. Both top and bottom lines lagged the Zacks Consensus Estimate and declined year over year. The downside was mainly due to lower oriented strand board (OSB) pricing across North American operations.
Adjusted earnings of 8 cents per share lagged the consensus mark of 18 cents by 55.6%. The bottom line also declined 90.4% from the year-ago figure of 83 cents. The downside can be attributed to lower sales, and higher costs and expenses.
During the quarter, the company reported net sales of $603 million, which missed the consensus estimate of $604 million by 0.2%, and year-ago figure of $737 million by 18.2%. Lower OSB prices (down 35%) and volumes (down 14%) negatively impacted its performance.
Louisiana-Pacific Corporation Price, Consensus and EPS Surprise
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