For the 2Q 2016, Louisiana-Pacific Corporation (LP) reported net income of $32 million, or $0.22 per diluted share, as compared to a net loss of $20 million, or $0.14 per diluted share for the 2Q 2015.
“This was an outstanding quarter for LP as every one of our segments helped drive net income of more than $30 million,” said Curt Stevens, CEO. “OSB had adjusted EBITDA of $59 million and our Siding segment had nearly $50 million of adjusted EBITDA. These results were due to higher OSB pricing, slightly improved housing starts and lower production costs across our system.”
For the six months ended June 30, 2016, LP reported net sales of $1.1 billion compared to $1 billion in the first six months of 2015.
For the first six months of 2016, LP reported net income of $42 million, or $0.29 per diluted share, compared to a loss of $54 million, or $0.38 per diluted share, for the same period in 2015.
Adjusted EBITDA from continuing operations for the first six months of 2016 was $151 million compared to $22 million for 2015. Increases in OSB pricing sold in North America accounted for $87 million increase in both operating results and adjusted EBITDA.
LP is a premier supplier of building materials, delivering innovative, high-quality commodity and specialty products to its retail, wholesale, homebuilding and industrial customers.