Louisiana-Pacific Corporation reported its financial results for the three and six months ended June 30, 2020. Total net sales for the 2Q 2020 decreased by $40 million over the prior year to $548 million compared to the 2Q 2019.
Net income for the 2Q 2020 increased by $16 million over the prior year to $33 million, or $0.29 per diluted share. In addition to the increase in OSB pricing, wood fiber and resin costs were favorable to the prior year by $6 million.
Adjusted Diluted EPS for the 2Q 2020 was $0.43 per diluted share compared to $0.11 per diluted share in the 2Q 2019. Adjusted EBITDA for the 2Q 2020 increased by $44 million over the prior year to $97 million.
Total net sales for the first six months of 2020 decreased by $37 million over the prior year to $1.133 billion compared to the first six months of 2019.
Net income for the first six months of 2020 increased by $22 million over the prior year to $66 million, or $0.58 per diluted share.
Adjusted Diluted EPS for the first six months of 2020 was $0.77 per diluted share compared to $0.23 per diluted share in the first six months of 2019. Adjusted EBITDA for the first six months of 2020 increased by $69 million over the prior year to $180 million.
Louisiana-Pacific Corporation engineered wood building products that meet the demands of builders worldwide.
