Jefferies Reports Texas Industries' Q3 Loss Lower Than Expected

According to Jefferies, Texas Industries (NYSE: TXI) Q3 loss was lower than expected mainly due to higher than expected shipments.

Jefferies reported that Q3-2010 (December 2010-February 2011) loss of $0.75 per share was $0.11 ahead of Jefferies estimate and $0.03 ahead of Bloomberg's estimate of consensus. “They exceeded our forecast mainly due to higher shipments than we expected, which also reduced unit costs. Selling prices were generally lower than we forecast.”

Texas Industries closed yesterday at $43.45.