Why Louisiana-Pacific Stock Jumped This Week
Building products manufacturer Louisiana-Pacific (NYSE: LPX) generated strong results thanks to the booming housing market, and investors are excited. The shares traded up 13% for the week, as of midday Thursday, following Louisiana-Pacific's strong earnings report.
On Nov. 2, Louisiana-Pacific reported third-quarter adjusted earnings of $3.87 per share on revenue of $1.22 billion, topping consensus estimates for $3.42 per share in earnings on revenue of $1.1 billion. Net sales were up 53% year over year, led by a near doubling in revenue from its engineered wood products division, 63% growth in oriented strand board (OSB) sales, and 19% growth in siding.
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Source Fool.com
