NEW YORK (TheStreet) -- Shares of Louisiana-Pacific Corp (LPX) are plummeting, down 7.03% to $13.23 in midday trading Wednesday, after the building products manufacturer reported a third quarter loss of $20.4 million, or a loss of 12 cents per adjusted share, worse than the loss of 5 cents per share analysts' expected.
For the third quarter of 2014, the Nashville, TN-based company reported a loss from continuing operations of $18 million, or a loss of 13 cents per diluted share, as compared to income from continuing operations of $38 million, or 26 cents per diluted share for the third quarter of 2013.
The home construction supplier posted revenue of $518.1 million for the quarter, higher by 2% compared to one year ago, and surpassing analysts forecasts of $506.02 million.
Louisiana-Pacific operates in four segments comprised of the North America oriented strand board, siding, engineered wood products, and South America.
Separately, TheStreet Ratings team rates LOUISIANA-PACIFIC CORP as a Hold with a ratings score of C.
- You can view the full analysis from the report here: LPX Ratings Report