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Norbord Q4 Beats on Earnings

Norbord ( OSB ) Friday reported adjusted diluted EPS in the quarter was $0.64, up significantly from last year's $0.19, exceeding the estimate of $0.57 from analysts polled by Capital IQ.

On an annual basis, revenue rose to $1.77 billion from $1.51 billion, beating the $1.73 billion consensus.

"The fourth quarter of 2016 marked our eighth consecutive quarter of improved results as the seasonal slowdown in construction-related demand was less pronounced than usual," CEO Peter Wijnbergen said.

"Channel inventories remain lean and demand in all our core markets remains strong, setting us up well as we enter 2017."

The company will be paying a cash dividend of CAD0.10 per common share ($0.08) on March 21 to shareholders of record on March 1.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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