Aug 06, 2014. /Lesprom Network/. Louisiana-Pacific Corporation (LP) reported results for the 2Q 2014. Total sales for the 2Q of $519 million were lower by 9% compared to the year ago quarter. Income from continuing operations was $2 million ($0.01 per diluted share), compared to $94 million, or $0.65 per diluted share for the 2Q 2013, as the company said in the press release received by Lesprom Network. 

Non-GAAP adjusted loss from continuing operations was $4 million ($0.03 per diluted share). Adjusted EBITDA from continuing operations for the 2Q was $26 million compared to $122 million in the 2Q 2013.

“LP’s Siding business had another quarter of record volume shipments of SmartSide despite a tepid housing recovery in the quarter,” said Curt Stevens, CEO. “Strong demand from retail, repair and remodeling and non-residential structures allowed for continued growth in this business.”

“All the signs point to improving demand for housing given demographics, an improving economy and job growth,” continued Stevens. “However, for this recovery to reach its potential, steps must be taken to foster credit access to the first time home buyer,” he concluded.

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