Louisiana-Pacific Q3 Results Exceed Street Expectation; CEO Says 'We Believe Siding Inventories Have Normalized'
Portfolio Pulse from Akanksha Bakshi
Louisiana-Pacific Corp (NYSE:LPX) reported Q3 FY23 net sales of $728 million, beating the consensus of $727.17 million, but marking a 14.6% YoY decline. Siding net sales and Oriented Strand Board (OSB) net sales decreased by 13% and 14% respectively. Adjusted EPS was $1.62, down from $1.72 in 3Q22, but beating the consensus of $1.53. The company expects OSB's net sales to decline sequentially by ~30% in 4Q23 and adjusted EBITDA to be between $60 million and $80 million. LPX shares were trading 4.1% higher at $53.39.
November 01, 2023 | 3:58 pm
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Louisiana-Pacific Corp reported better than expected Q3 FY23 results but expects a sequential decline in 4Q23 net sales. LPX shares were trading 4.1% higher.
Louisiana-Pacific Corp reported better than expected Q3 FY23 results, which is a positive signal for investors and could lead to a short-term increase in the stock price. However, the company's expectation of a sequential decline in 4Q23 net sales could potentially offset some of the positive sentiment. The fact that LPX shares were trading 4.1% higher suggests that the market has reacted positively to the Q3 results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100