By Dean Seal
Louisiana-Pacific logged higher earnings in the fourth quarter as a jump in siding sales offset revenue declines from other business lines.
The maker of building products on Wednesday posted a profit of $63 million, or 89 cents a share, compared with $59 million, or 81 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were $1.03 a share. Analysts polled by FactSet had been expecting 86 cents a share.
Sales rose 3% to $681 million, below analyst projections for $687 million, according to FactSet.
The company's siding business recorded a 9% jump in sales to $362 million from 3% higher volumes and 6% higher prices. Sales of oriented strand board used for floors and roofs meanwhile were 2% lower at $267 million from a 7% drop in prices offsetting a 6% gain in volumes. Sales in the company's South America unit were 5% lower at $50 million.
Louisiana-Pacific is guiding for siding sales to hit $390 million to $400 million in the current quarter, up 9% to 11% from a year ago and stacked against current analyst estimates for $390 million, according to FactSet. For the full year, siding sales are expected to jump 7% to 9% to $1.65 billion to $1.7 billion.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 19, 2025 06:28 ET (11:28 GMT)
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