Louisiana-Pacific Corp. (LPX) Tops Q2 EPS by 2c, Offers Outlook

Louisiana-Pacific Corp. (NYSE: LPX) reported Q2 EPS of ($0.08), $0.02 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $493 million versus the consensus estimate of $509.13 million.

“The continued weakness in OSB pricing in the quarter, we believe, was caused by the reduction in demand due to very wet weather in the middle of the country, including Texas,” Chief Executive Officer Curt Stevens said. “With the distribution channel relatively full coming out of the first quarter, re-ordering was at a slower pace than anticipated. I am pleased with another strong quarter from our Siding business and the return of EWP to positive adjusted EBITDA.”

COMPANY OUTLOOK

“With reported housing starts in June at 1.174 million and permits at 1.343 million, we should see an acceleration of building activity in the second half of this year,” Stevens continued. “Persistent labor shortages and the possibility of interest rate increases later in the year could dampen forecasted growth in the short term but increasing household formations and the need for housing should support continued building activity.”

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

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