Portland, OR, Oct 22--Wood products maker Louisiana-Pacific Corp. said its third-quarter profit rose sharply, driven by strong demand and prices on wood panels used in homebuilding.
The Portland, Oregon company reported third-quarter net income of $124 million, or $1.17 a share, up from net income of $3.3 million, or 3 cents a share, in the year-ago quarter.
The company posted earnings from continuing operations of $1.03 per share. On that basis, analysts had forecast earnings of 75 cents a share to $1.05 a share, with a consensus estimate of 90 cents a share, according to Reuters Research, a unit of Reuters Group Plc.
