Louisiana-Pacific gains on FY forecast raise, Q1 profit beat

Louisiana-Pacific

08/05/2024 16:25

(Updates)
    ** Shares of building materials maker Louisiana-Pacific
 LPX.N  up 16.1% at $84.75 
    ** Stock hit an all-time high earlier in the session
    ** Posts Q1 adj. EPS of $1.53 vs est. of $1.12 - LSEG
    ** Net sales rose by 24% to $724 mln 
    ** "The first quarter saw robust demand for Siding and OSB,
with increased volume, including record ExpertFinish and
BuilderSeries volume, higher commodity prices, and improved
operating efficiency driving margin expansion," said CEO Brad
Southern
    ** Raises full-year forecast for consolidated adj. core
profit to the range of $655 mln to $685 mln vs earlier forecast
of $495 mln to $525 mln 
    ** Including the session's gains, stock is up ~20% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))