“Though we were encouraged by the increase in housing permits, we saw only a slight upswing in North American housing activity in the 1Q,” said Curt Stevens, CEO. “As a result, OSB prices languished in the quarter on relatively flat volumes compared to last quarter, hurting our results. On the other hand, our more diversified Siding business posted record results with increased sales in all of its segments including housing, retail, repair and remodel and non-residential structures.
“The planned conversion of our Swan Valley mill to Siding is on track and will provide more product to this growing market,” continued Stevens. “In OSB and EWP, we are carefully watching customer inventories and managing our production to real demand. Most of our customers are expecting a stronger upcoming building season and we will be ready to serve their increased needs.”
LP is a premier supplier of building materials, delivering innovative, high-quality commodity and specialty products to its retail, wholesale, homebuilding and industrial customers.
