Louisiana-Pacific Corporation's (LP) net sales for the Q2 2025 decreased by $60 million to $755 million compared to the prior-year period. Siding revenue increased by $45 million (or 11%), due to 8% higher volumes and 2% higher prices. OSB revenue decreased by $101 million, driven by a decline in prices.
Net income for the Q2 2025 decreased year-over-year by $106 million to $54 million ($0.77 per diluted share). The decline primarily reflects an $86 million decrease in Adjusted EBITDA, along with asset impairments of $17 million and reorganization costs of $3 million. The year-over-year decrease in Adjusted EBITDA for the second quarter includes a $102 million impact from lower OSB selling prices, a $6 million inventory valuation charge, and $3 million in tariff expenses related to sales into Canada. These were partially offset by a $28 million benefit from higher Siding selling prices and volumes.
“LP’s Siding segment grew and captured share to set new records for sales volume, sales revenue, and EBITDA in the second quarter,” said LP Chairperson and CEO Brad Southern. “While the OSB market is challenging currently, with commodity prices at multi-year lows, LP will continue to execute its OSB segment strategy safely, with efficiency and discipline.”
First Six Months of 2025 Highlights
Net sales for the first six months of 2025 decreased year-over-year by $60 million to $1.5 billion. Siding revenue increased by $86 million (or 11%), due to 9% higher volumes and 2% higher prices. OSB revenue decreased by $147 million, driven by lower prices and a slight decline in volumes.
Net income for the first six months of 2025 decreased year-over-year by $123 million to $145 million ($2.07 per diluted share). The decrease primarily reflects a $106 million decrease in Adjusted EBITDA, $17 million of impairment charges, reorganization costs of $5 million, and the removal of $15 million in business exit credits, partially offset by a $49 million decrease in the provision for income taxes.
The year-over-year decrease in Adjusted EBITDA includes a $139 million impact from lower OSB selling prices and volumes, a $5 million inventory valuation charge, $7 million of strategic investments in sales and marketing, and $5 million in tariff expenses primarily related to sales into Canada. These were partially offset by a $51 million benefit from higher Siding sales volumes and selling prices.
Louisiana-Pacific Corporation (LP Building Solutions) manufactures engineered wood products that meet the demands of builders, remodelers and homeowners worldwide.
