For the 2Q 2017, Louisiana-Pacific Corporation (LP) reported net sales of $694 million, up from $582 million in the same quarter of 2016. LP reported net income of $95 million, or $0.65 per diluted share, as compared to $32 million, or $0.22 per diluted share for the 2Q 2016.
Adjusted EBITDA for the 2Q 2017 was $164 million compared to $99 millionin the 2Q 2016. Increases in OSB pricing sold in North America accounted for $71 million increase in both operating results and Adjusted EBITDA.
For the six months ended June 30, 2017, LP reported net sales of $1.3 billion compared to $1.1 billion in the first six months of 2016.
For the first six months of 2017, LP reported net income of $150 million, or $1.02 per diluted share, compared to $42 million, or $0.29 per diluted share, for the same period in 2016.
Adjusted EBITDA for the first six months of 2017 was $276 million compared to $151 million for 2016.
CEO Brad Southern said: “LP’s strong financial results were driven by improved demand for our products and higher OSB pricing. Siding and EWP both generated revenue growth in excess of 10% with OSB pricing higher by 26%.”
Louisiana-Pacific Corporation is a leading manufacturer of quality engineered wood building materials including OSB, structural framing products, and exterior siding for use in residential, industrial and light commercial construction.
