Louisiana-Pacific Q3 Earnings Exceed Expectations - Louisiana-Pacific (NYSE:LPX)

Louisiana-Pacific Corp LPX reported a third-quarter FY22 sales decline of 16% year-on-year to $852.00 million, beating the consensus of $840.01 million.
Segment Revenues: Siding climbed 26% Y/Y to $394 million, Oriented Strand Board (OSB) fell 35% to $388 million, and South America decreased 30% to $53 million.
The gross profit for Q3 dropped 54% to $232 million, with a gross margin of 27.2%.
The operating margin was 20.2%, and operating income for the quarter declined 61% to $172 million. Adjusted EBITDA for Q3 was $200 million.
The company held $482 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities totaled $195 million.
Adjusted EPS of $1.72 beat the analyst consensus of $1.55.
Outlook: Louisiana-Pacific sees Q4 FY22 adjusted EBITDA of $100 million.
The company expects FY22 capital expenditures of $400 million - $420 million.
Price Action: LPX shares are trading higher by 0.78% at $57.09 on the last check Tuesday.
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