Louisiana-Pacific Corporation's (LP) net sales decreased $52 million (or 9%) to $537 million in the 4Q 2019 from $589 million in the 4Q 2018, primarily due to $38 million of reduced OSB prices and a 29% reduction in commodity OSB shipments across all North America segments.
Net income decreased $68 million to a net loss of $(51) million, or $(0.44) per diluted share for the 4Q 2019 from net income of $17 million, or $0.12 per diluted share for the 4Q 2018, primarily due to $86 million of non-cash impairments, before income taxes.
Adjusted EBITDA decreased $16 million (or 25%) to $49 million for the 4Q 2019 from $65 million in the 4Q 2018, primarily due to the OSB pricing and shipment declines, partially offset by the SmartSide® Strand revenue growth and operating efficiencies.
FY 2019 net sales decreased $518 million (or 18%) to $2.3 billion for 2019 from $2.8 billion in 2018, primarily due to $416 million of reduced OSB prices and a 17% reduction in commodity OSB shipments across all North America segments.
FY 2019 net income decreased $400 million to a net loss of $(5) million, or $(0.04) per diluted share in 2019 from net income of $395 million, or $2.73 per diluted share in 2018.
FY 2019 adjusted EBITDA decreased $451 million to $209 million in 2019 from $660 million in 2018, primarily due to the OSB pricing and shipment declines offset by the SmartSide® Strand revenue growth and operating efficiencies.
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