Louisiana-Pacific Corporation's (LP) net sales for the 3Q 2021 increased by $424 million (or 53%) over the prior year to $1.2 billion. Adjusted EBITDA for the 3Q 2021 increased by $249 million over the prior year period to $522 million.
"As expected, the 3Q saw a significant correction in OSB prices and ongoing headwinds from raw material prices and availability," said LP Chair and CEO Brad Southern. "Despite these challenges, LP earned $522 million in EBITDA and $3.87 per share as Siding sales grew by 19%, EWP and South America delivered record quarters, and OSB continued to generate exceptional cash flow."
Net sales for the first nine months of 2021 increased by $1.6 billion (or 85%) over the prior year period to $3.6 billion. Adjusted EBITDA for the first nine months of 2021 increased by $1.2 billion over the prior year period to $1.7 billion, primarily due to growth in Siding Solutions revenue and higher OSB prices.
Louisiana-Pacific Corporation manufactures engineered wood building products that meet the demands of builders, remodelers, and homeowners worldwide.
