12:47 PM EDT, 05/08/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Louisiana-Pacific ( LPX ) shares were up 16.5% in recent trading on Wednesday after the company posted Q1 adjusted earnings and net sales ahead of consensus.

The company reported Q1 adjusted earnings of $1.53 per diluted share, up from $0.34 a year earlier.

Analysts polled by Capital IQ expected $1.13.

Net sales for the quarter ended March 31 were $724 million, up from $584 million a year ago.

Analysts surveyed by Capital IQ expected $686.8 million.

Price: 85.00, Change: +12.03, Percent Change: +16.49