Norbord: 1Q Earnings Snapshot

Norbord: 1Q Earnings Snapshot

Associated Press

TORONTO (AP) _ Norbord Inc. (OSB) on Thursday reported first-quarter profit of $1 million.

The Toronto-based company said it had profit of 1 cent per share. Losses, adjusted for non-recurring gains, were 2 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The wood-based panel producer posted revenue of $476 million in the period.

Norbord shares have declined nearly 5% since the beginning of the year. The stock has dropped 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OSB at https://www.zacks.com/ap/OSB