Entering text into the input field will update the search result below

Louisiana-Pacific down 8% post Q2 results miss and weak margins

Aug. 06, 2019 12:54 PM ETLouisiana-Pacific Corporation (LPX) StockLPXBy: Akanksha Bakshi, SA News Editor
  • Louisiana-Pacific (LPX -8.1%) reported Q2 revenue of $588M, a decline of 27.5% Y/Y. Sales by segments: Siding $238 (-34.3% Y/Y); OSB $199M (-48.6% Y/Y); EWP $107M (-5.03% Y/Y); South America $40M (-11.1% Y/Y); and others $5M (+66.7% Y/Y).
  • Q2 Gross margin fell by 1,892 bps to 13.3%; and operating margin fell by 2,260 bps to 3.9%.
  • Declines in OSB pricing in all North American operations had a negative impact on LP's operating results of $166M for the quarter.
  • Adj. EBITDA was $53M (-78.1% Y/Y); and margin declined by 2,083 bps to 9%.
  • SmartSide Strand sales increased 3% Y/Y.  Overall OSB commodity price realization dropped 49% Y/Y.
  • Net cash provided by operating activities for the quarter was $54M, compared to $237M a year ago.
  • Company increased the capacity of the revolving credit facility to $350M and extended the maturity date to June 28, 2024.
  • FY19 Guidance: Capex in range of $160M to $170M; and lowered SmartSide Strand sales growth target to 10% and its long-term growth target to 10%-12%.
  • Previously: Louisiana-Pacific EPS misses by $0.12, misses on revenue (Aug. 6)

Recommended For You

More Trending News

About LPX Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
LPX--
Louisiana-Pacific Corporation