May 16, 2014. /Lesprom Network/. Louisiana-Pacific Corporation (LP®) reported results for the 1Q 2014. Total sales for the 1Q of $445 million were lower by 16% compared to the year ago quarter. Adjusted EBITDA from continuing operations for the 1Q was $23 million compared to $120 million in the 1Q 2013. Cash and cash equivalents were $552 million as of March 31, 2014, as the company said in the press release received by Lesprom Network.

“The severe weather across much of North America in the 1Q took a toll on building activity and logistics,” said Curt Stevens, CEO. “The rail transportation systems in both the U.S. and Canada were in disarray in 1Q, which caused unplanned downtime at our operations, increased inventory and late shipments and negatively affected our reported results.”

For the 1Q 2014, LP reported a loss from continuing operations of $14 million, or $0.10 per diluted share, as compared to income from continuing operations of $65 million, or $0.45 per diluted share for the 1Q 2013.

“With better weather, we are hopeful that housing starts will accelerate to the forecasted level of 1.1 million for 2014,” continued Stevens. “Our current order files are much stronger than we have seen over the last several quarters and our customers have a positive outlook for the rest of the year.”

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