Louisiana-Pacific Earnings: Here’s Why Investors are Selling Shares Now
Louisiana-Pacific Corp. (NYSE:LPX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.78%.
Louisiana-Pacific Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1950% to $0.41 in the quarter versus EPS of $0.02 in the year-earlier quarter.
Revenue: Rose 33.85% to $572.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Louisiana-Pacific Corp. reported adjusted EPS income of $0.41 per share. By that measure, the company beat the mean analyst estimate of $0.33. It beat the average revenue estimate of $560.65 million.
Quoting Management: “This was another good quarter for LP as the U.S. housing market continues to recover,” said Curt Stevens, CEO. “While OSB prices moderated during the second quarter, this segment showed good earnings. Strong demand in Siding and South America also added to our results.”
Key Stats (on next page)…