Aug 06, 2013. /Lesprom Network/. Louisiana-Pacific Corporation (LP) reported results for the 2Q 2013. For the 2Q 2013, LP reported income from continuing operations of $94 million, or $0.65 per diluted share, as compared to a loss from continuing operations of $37 million, or $0.27 per diluted share for the 2Q 2012. The results for the 2Q 2013 included a gain on acquisition of $36 million, as the company said in the press release received by Lesprom Network.

Total sales for the 2Q $573 million were higher by 34% compared to the year ago quarter.

Adjusted EBITDA from continuing operations for the 2Q was $122 million compared to $37 million in the 2Q 2012.

“This was another good quarter for LP as the U.S. housing market continues to recover,” said Curt Stevens, CEO. “While OSB prices moderated during the second quarter, this segment showed good earnings. Strong demand in Siding and South America also added to our results.”

LP’s OSB segment manufactures and distributes OSB structural panel products. The OSB segment reported net sales for the 2Q 2013 of $306 million, an increase from $195 million of net sales in the 2Q 2012. For the 2Q 2013, the OSB segment reported operating income of $95 million compared to $17 million in the 2Q 2012. For the 2Q, LP realized an increase of $80 million in adjusted EBITDA from continuing operations for this segment compared to the 2Q 2012.

The Engineered Wood Products (EWP) segment is comprised of I-Joist (IJ), Laminated Veneer Lumber and Laminated Strand Lumber (LVL and LSL). These products are principally used in new construction. EWP sales in the 2Q 2013 totaled $61 million, an increase from $52 million reported a year ago. Operating losses were $5 million for the 2Q 2013 compared to $3 million in the 2Q 2012.

The South American segment consists of OSB mills located in Chile and Brazil. South America sales in the 2Q 2013 totaled $44 million, an increase of 4% from $43 million in the year-ago 2Q. For the 2Q 2013, the South America segment reported operating income of $6 million compared to $4 million reported a year ago. For the 2Q, LP reported $9 million in adjusted EBITDA from continuing operations for this segment, an increase of $3 million compared to the 2Q 2012.

“Housing starts appear to have been constrained by weather, labor and financing issues in the 2Q. We will continue to be agile in our operations as the weather improves and builders address these issues. The consensus projection for housing starts for this year is a 25% increase over 2012, with starts projected to increase at least another 25% in 2014. We will be ready to respond,” concluded Stevens.

LP is a premier supplier of building materials, delivering innovative, high-quality commodity and specialty products to its retail, wholesale, homebuilding and industrial customers.