Louisiana-Pacific Q3 Profit Down On Weak Net Sales; Declares Dividend

(RTTNews) - High-performance building solutions provider Louisiana-Pacific Corp. or LP (LPX) reported Tuesday that its third-quarter net income attributed to LP declined to $226 million or $3.05 per share from last year's $365 million or $3.87 per share.

Income from continuing operations attributed to LP decreased to $129 million or $1.74 per share from $332 million or $3.52 per share a year ago.

Adjusted income was $127 million or $1.72 per share, compared to $331 million or $3.52 per share last year.

On average, nine analysts polled by Thomson Reuters expected earnings of $1.48 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales from continuing operations decreased 16 percent to $852 million from $1.02 billion a year earlier. Analysts estimated revenues of $835.19 million for the quarter.

Further, the company declared a quarterly cash dividend of $0.22 per share.

Looking ahead for the fourth quarter, adjusted EBITDA is expected to be approximately $100 million.

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