NEW YORK (TheStreet) -- Louisiana-Pacific
(LPX) shares are down -6.9% to $12.86 on Tuesday after reporting a second quarter income from continued operations of 1 cent per diluted share, far below the 65 cents per diluted share it posted last year.
The building products manufacturer also experienced a 9% decline in sales during the quarter to $519 million, though it beat analysts expectations of $501.8 million.
The company remains optimistic about its full year prospects due to improved job growth and "a tepid housing recovery", but admits that "steps must be taken to foster credit access to the first time home buyer."
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TheStreet Ratings team rates LOUISIANA-PACIFIC CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:"We rate LOUISIANA-PACIFIC CORP (LPX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins." LPX data by YCharts
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