Louisiana-Pacific Reports Q1 Loss of $14 Million
[Thursday, May 08, 2014] Louisiana-Pacific Corporation today reported results for the first quarter of 2014, which included the following:
Total sales for the first quarter of $445 million were lower by 16 percent compared to the year ago quarter.
Loss from continuing operations was $14 million ($0.10 per diluted share).
Non-GAAP adjusted loss from continuing operations was $7 million ($0.05 per diluted share).
Adjusted EBITDA from continuing operations for the first quarter was $23 million compared to $120 million in the first quarter of 2013.
Cash and cash equivalents were $552 million as of March 31, 2014.
“The severe weather across much of North America in the first quarter took a toll on building activity and logistics,” said Curt Stevens, CEO. “The rail transportation systems in both the U.S. and Canada were in disarray in Q1, which caused unplanned downtime at our operations, increased inventory and late shipments and negatively affected our reported results.”
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