Louisiana-Pacific's (LP)net sales for the 4Q 2020 increased by $323 million (or 60%) over the prior year to $860 million.
Net income for the 4Q 2020 increased by $307 million over the prior year to $256 million ($2.34 per diluted share). In addition to the growth in SmartSide sales and increases in OSB prices, raw material costs (primarily wood fiber and resin) were favorable to the prior year by $9 million. During the 4Q 2019, LP recognized pre-tax impairment charges of $86 million related to certain operating and non-operating assets.
Adjusted EBITDA for the 4Q 2020 increased by $279 million to $328 million from $49 million in the 4Q 2019, primarily due to SmartSide revenue growth and higher OSB prices.
Net sales for full year 2020 increased by $478 million (or 21%) over the prior year to $2.8 billion.
Net income for the full year 2020 increased by $504 million over the prior year to $499 million ($4.46 per diluted share).
Adjusted EBITDA for the full year 2020 increased $572 million over the prior year to $781 million, due to SmartSide growth, $481 million of OSB pricing, and favorable raw material prices.
As a leader in high-performance building solutions, Louisiana-Pacific Corporation manufactures engineered wood building products that meet the demands of builders worldwide.
