Louisiana-Pacific Corp. (NYSE: LPX) reported Q3 EPS of $0.83, $0.16 better than the analyst estimate of $0.67. Revenue for the quarter came in at $737 million versus the consensus estimate of $735.79 million.

Net sales for the third quarter of $737 million were higher by 3 percent compared to the year ago quarter.
Income from continuing operations was $124 million ($0.86 per diluted share).
Non-GAAP adjusted income from continuing operations was $120 million ($0.83 per diluted share).
Adjusted EBITDA from continuing operations for the third quarter was $193 million.
Deployed approximately $60 million in cash to repurchase 2.1 million shares during the third quarter.

“We are pleased to report our third quarter results which highlight solid strategic and operational execution. Against a backdrop of OSB pricing headwinds, our results continue to validate our strategy to transform LP into a leading building solutions company and also show the strength in our value-add and specialty products, including LP SmartSide® siding and trim,” said Brad Southern, LP Chief Executive Officer.

OUTLOOK

“Looking forward, while we are encouraged by the overall fundamentals in housing, we have experienced pricing declines in OSB associated with some recent supply and demand imbalances. To address this, we will continue to adjust our commodity OSB production to reflect changes in demand. We remain confident in our ability to deliver on our commitments to shareholders by returning capital through dividends and share repurchases while prudently operating our assets and investing in key growth opportunities to continue our transition to more value-add and specialty products,” Southern concluded.

For earnings history and earnings-related data on Louisiana-Pacific Corp. (LPX) click here.