Georgia-Pacific (GP) said Thursday that fourth-quarter earnings will be "substantially" below Wall Street's expectations due to market-related downtime, weaker demand for products and higher energy costs.
While the company gave no guidance as to the specific earnings numbers it will report, 11 analysts polled by
First Call/Thomson Financial
are calling for Georgia-Pacific to earn 58 cents a share for the quarter. The company earned $1 in the year-ago period.
The company said its building products manufacturing segment would show a quarterly loss for the first time since 1991.
Georgia-Pacific also said it will take special charges for the fourth quarter for facility closings and costs associated with the acquisition of
Fort James Company
Shares of Georgia-Pacific closed up 25 cents, or 0.9%, at $28 Thursday in
New York Stock Exchange