Louisiana-Pacific Q3 Earnings Exceed Expectations

Shivani Kumaresan
1 min read
0
In this article:

  • Louisiana-Pacific Corp (NYSE: LPX) reported a third-quarter FY22 sales decline of 16% year-on-year to $852.00 million, beating the consensus of $840.01 million.

  • Segment Revenues: Siding climbed 26% Y/Y to $394 million, Oriented Strand Board (OSB) fell 35% to $388 million, and South America decreased 30% to $53 million.

  • The gross profit for Q3 dropped 54% to $232 million, with a gross margin of 27.2%.

  • The operating margin was 20.2%, and operating income for the quarter declined 61% to $172 million. Adjusted EBITDA for Q3 was $200 million.

  • The company held $482 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities totaled $195 million.

  • Adjusted EPS of $1.72 beat the analyst consensus of $1.55.

  • Outlook: Louisiana-Pacific sees Q4 FY22 adjusted EBITDA of $100 million.

  • The company expects FY22 capital expenditures of $400 million - $420 million.

  • Price Action: LPX shares are trading higher by 0.78% at $57.09 on the last check Tuesday.

  • Photo Via Company

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement

Recommended Stories