Louisiana-Pacific announces 28% increase in 3Q net sales

For the 3Q 2016, Louisiana-Pacific Corporation (LP) reported net sales of $596 million, up from $465 million in the same quarter of 2015. For the 3Q, the company reported operating income of $77 million as compared to a loss of $17 million in 2015.

For the 3Q 2016, LP reported income from continuing operations of $66 million, or $0.45 per diluted share, as compared to a net loss of $25 million, or $0.17 per diluted share for the 3Q 2015.

Adjusted EBITDA from continuing operations for the 3Q 2016 was $111 million compared to $11 million in the 3Q 2015.

“I’m very pleased with our results this quarter,” said Curt Stevens, CEO. “Net sales in the quarter increased by 28% led by a 25% increase in SmartSide volumes and continued strength in OSB prices. Year-to-date, net sales improved by 18% and we increased our cash by $125 million.”

For the nine months ended September 30, 2016, LP reported net sales of $1.7 billion compared to $1.4 billion in the first nine months of 2015.

For the first nine months of 2016, LP reported income from continuing operations of $108 million, or $0.74 per diluted share, compared to a loss from continuing operations of $79 million, or $0.55 per diluted share, for the same period in 2015.

Adjusted EBITDA from continuing operations for the first nine months of 2016 was $262 million compared to $33 million for 2015. Increases in OSB pricing sold in North America accounted for $172 million increase in both operating results and adjusted EBITDA.

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.