Lousiana-Pacific rises after beat-and-raise report

Louisiana-Pacific

05/11/2024 14:20

** Louisiana-Pacific's  LPX.N  shares up 5.3% to $106.50
premarket after wood products firm posts qtrly beat and boosts
outlook
    ** LPX on track for fifth consecutive session of gains, set
to open at four-week high
** Co reports Q3 rev of $722 mln, down 1% y/y, and adj EPS of
$1.22, both above LSEG estimates of ~$680 mln in rev and
earnings of 88 cents/sh
    ** "...Siding segment set new records for net sales and
Adjusted EBITDA, and the OSB (Oriented Strand Board) segment
delivered a solid quarter in a challenging price environment
with operational efficiency, cost control, and outstanding
safety,” CEO Brad Southern said in statement
    ** Co raises consolidated full-yr adj core profit (EBITDA)
guidance to $655-$675 mln, up from prior forecast of $580-$620
mln
    ** 10 analysts cover LPX and recommendation breakdown is 3
"buy", 5 "hold" and 2 "sell" ratings and median PT is $110 -
LSEG data shows
    ** Through Mon close, shares have gained 43% YTD following
~20% gain in 2023

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))