For the 2Q 2018, Louisiana-Pacific Corporation (LP) reported net sales of $811 million, up from $694 million in the 2Q 2017. Adjusted EBITDA from continuing operations in the 2Q 2018 was $242 million compared to $167 million in the 2Q 2017, as the company said in the press release received by Lesprom Network.
LP reported income from continuing operations of $163 million, or $1.11 per diluted share, as compared to $95 million, or $0.65 per diluted share for the 2Q 2017.
“Our strong results this quarter demonstrate clear progress against our strategy to transform Louisiana-Pacific into a leading building solutions company,” said Brad Southern, LP CEO. “In fact, this was the best second quarter for LP since 2004, driven by steady execution from our team across the business, strength in OSB pricing as well as ongoing growth in our value added products. Each business - Siding, OSB, Engineered Wood and South America operations - delivered increased top and bottom line results on a year-over-year basis. We remain focused on executing on our key growth initiatives and delivering increased value to shareholders, including capital returns in the form of a new $150 million share repurchase authorization.”
For the six months ended June 30, 2018, LP reported net sales of $1.5 billion compared to $1.3 billion in the first six months of 2017. LP reported income from continuing operations of $258 million, or $1.76 per diluted share, compared to $150 million, or $1.02 per diluted share, for the same period in 2017. Adjusted EBITDA from continuing operations for the first six months of 2018 was $401 million compared to $281 million for 2017.
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.