Louisiana-Pacific down as Q2 sales miss estimates

Louisiana-Pacific

09/08/2022 13:54

** Shares of forest and wood products co Louisiana-Pacific
Corp  LPX.N  down as much as 3.88% at $60.20 premarket 
    ** LPX, which sells lumber boards, building materials, etc.,
says Q2 net sales decreased by 3% to $1.13 bln, missing
Refinitiv IBES estimates of $1.25 bln  urn:newsml:reuters.com:*:nASA03KDA
    ** Co says revenue decline include a 14% decrease in its
Oriented Strand Board (OSB) segment sales; OSB is a type of wood
made from adding adhesives
    ** Expects Q3 OSB revenue to be sequentially lower than Q2
by ~40%
    ** Stock down ~20% YTD, as of last close 
    

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))