Louisiana-Pacific Corp rises after beating Q3 sales, profit estimates

Louisiana-Pacific

01/11/2022 13:35

** Shares of forest and wood products co Louisiana-Pacific
Corp  LPX.N  up ~3% at $58.41
    ** Company's Q3 net sales fell 16% to $852 mln but beat
analysts' expectations of $835.2 mln, per Refinitiv IBES data
    ** LPX posts Q3 adjusted profit of $1.72 per share, topping
estimates of $1.48
    ** Company expects Q4 revenue of Siding Solutions to grow
more than 30% and full-year 2022 Siding Solutions revenue to be
about 24%
    ** Up to Monday's close, stock had fallen ~28% this year
 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))