Welcome to our dedicated page for Louisiana-Pacific news (Ticker: LPX), a resource for investors and traders seeking the latest updates and insights on Louisiana-Pacific stock.
Louisiana-Pacific Corporation (NYSE: LPX), a pioneer in high-performance building solutions, offers a comprehensive range of innovative and reliable building products. Founded in 1972 and headquartered in Nashville, Tennessee, LP operates 23 plants across the U.S., Canada, Brazil, and Chile, further extending its reach through a joint venture.
Core Offerings:
- Siding Solutions: This segment includes LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions®. These products are recognized for their durability and aesthetic appeal, catering to both new construction and remodeling projects.
- Structural Solutions: LP’s structural offerings consist of LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP® FlameBlock® Fire-Rated Sheathing, and more. These products ensure robust and safe building structures.
- Oriented Strand Board (OSB): As a significant OSB producer, LP manufactures high-quality structural panel products, including the LP® Structural Solutions portfolio, which features innovative items like LP NovaCore® Thermal Insulated Sheathing.
Key Achievements and Financial Highlights:
In the third quarter of 2023, LP reported net sales of $124 million lower year-over-year, reflecting a 15% decrease. Siding segment revenue dropped by $50 million, or 13%, while OSB segment revenue fell by $53 million, or 14%. Furthermore, net income from continuing operations was $118 million, or $1.63 per diluted share, indicating a $10 million year-over-year decrease in adjusted EBITDA.
For the first nine months of 2023, LP experienced a 39% drop in net sales year-over-year, with OSB revenue plummeting by 58% due to lower prices and volumes. The Siding segment saw an 8% decline in revenue, despite a 6% increase in prices. Overall, income from continuing operations was $119 million, or $1.65 per diluted share, primarily due to reduced adjusted EBITDA and business exit charges.
Global Expansion and Partnerships:
Despite a predominant exposure to the North American housing market, LP has expanded its operations globally, particularly in Brazil and Chile. The South American segment manufactures siding products and OSB structural panels, contributing to LP's diversified revenue streams.
Customer Service and Warranties:
LP is committed to delivering exceptional customer service and industry-leading warranties. This dedication ensures that builders, remodelers, and homeowners receive the support and assurance they need for their construction projects.
As a company continually striving for innovation and excellence, LP is at the forefront of creating enduring value for its shareholders and constructing beautiful, durable homes worldwide.
Louisiana-Pacific (LPX) reported mixed Q3 2024 results with record performance in Siding but weakness in OSB. Siding net sales increased 22% to $420 million, while OSB net sales declined 24% to $253 million. Consolidated net sales decreased 1% to $722 million. Net income was $90 million ($1.28 per diluted share), down from prior year. The company maintained strong liquidity of $896 million and returned capital to shareholders through $73 million in share repurchases and $18 million in dividends during Q3.
LP Building Solutions has expanded its partnership with the Forest Workforce Training Institute to support the ForestryWorks® program. This collaboration aims to address the workforce shortage in the forestry industry by attracting and cultivating diverse talent in manufacturing, forestry, and construction trades. The program, active in 10 states, provides education, career promotion, and hands-on training.
LP's commitment aligns with National Forest Products Week, celebrating sustainable forests and innovative research. The company's Natural Resources Manager, Tim Thornhill, received the 2024 ForestryWorks® Legacy Award for his leadership. LP's support extends to other initiatives, including partnerships with the Manufacturing Institute, National Society of Black Engineers, and Vancouver Island University's training programs for Indigenous Peoples and Women in Trades.
LP Building Solutions (NYSE: LPX) has announced the date for its Third Quarter 2024 Earnings Conference Call. The company will release its financial results on Tuesday, November 5, 2024, followed by a conference call at 11 a.m. ET (8 a.m. PT) on the same day. The call will be hosted by Brad Southern, LP Chair and CEO, and Alan Haughie, Executive VP and CFO.
Interested parties can register to receive a toll-free number and personal access pin for the call. Additionally, a live webcast and accompanying presentation will be available in the News & Events section of LP's Investor Relations website. These materials will also be archived on the website for future reference.
LP Building Solutions (LPX) has expanded its partnership with the Gary Sinise Foundation, committing to donate 100% of the LP® SmartSide® Trim & Siding needed for specially adapted mortgage-free homes built for wounded veterans through the R.I.S.E. program. This expansion builds on LP's support since 2022, which included financial contributions and product donations. The partnership aligns with LP's broader philanthropic efforts, with the LP Foundation having contributed over $22 million to nonprofits and public schools.
LP SmartSide Trim and Siding, known for combining traditional wood beauty with engineered wood durability, will be used in these homes designed to meet the unique needs of severely wounded heroes. This initiative reflects LP's commitment to making a tangible difference in the lives of veterans who have sacrificed for their country.
LP Building Solutions has announced that its entire LP® SmartSide® Trim & Siding product portfolio is now officially carbon negative. This designation was confirmed through environmental product declarations (EPDs) validated by ASTM International in 2023. The products store more carbon than they emit throughout their life cycle, contributing to reduced atmospheric carbon levels.
The LP® SmartSide® portfolio is known for its durability, ease of installation, and aesthetic qualities. The wood-based nature of the products and LP's manufacturing practices result in significantly lower emissions compared to non-wood cladding options. This achievement reinforces LP's commitment to creating sustainable building solutions that are both resilient and efficient to install.
LP Building Solutions has appointed Jeremy Sellers as Vice President of OSB Sales and Marketing. Sellers brings over 15 years of building products experience to the company. In his new role, he will lead the development, alignment, and execution of all sales and marketing programs within LP's OSB segment, including overseeing the LP® Structural Solutions product portfolio, managing strategic partnerships, and steering product marketing campaigns and sales strategies.
LP Executive Vice President, General Manager of OSB Jimmy Mason expressed confidence in Sellers' exceptional sales leadership and strategic vision. Sellers previously worked at Wolf Home Products, advancing from Product Specialist to Senior Vice President of Sales in 2022. He holds a Bachelor of Science in Business Administration from Clarion University of Pennsylvania.
LP Building Solutions has awarded over 75 college scholarships to children of LP team members for the 2024–2025 academic year. The company has significantly enhanced its Scholarship Program, increasing the scholarship amount from $1,500 to $2,500 and more than doubling the number of new recipients. This expansion raises the annual potential enrollment to 200 students.
Since its inception, the LP Scholarship Program has awarded nearly $2.5 million in scholarships to more than 470 students. For the 2024–2025 academic year, the program awarded scholarships to 35 first-time recipients and over 40 renewal recipients. Each scholarship provides up to $10,000 for four years of full-time undergraduate study or until the student completes their academic program.
LP also offers a Tuition Assistance Program for its U.S. and Canadian team members, providing reimbursement for eligible expenses when enrolling in degree-seeking programs through accredited universities or equivalent programs through trade or vocational schools.
LP Building Solutions has been awarded the 2023 Safest Company Award from APA – The Engineered Wood Association, marking its 12th win in the 16-year history of the award program. LP achieved an industry-leading Weighted Incident Rate (WIR) of 2.56, significantly lower than the industry average of 8.74. The company won in the category for companies with 11 or more mills.
In addition to the Safest Company Award, five LP mills were individually recognized in the 2023 Safety and Health Awards. Since 2007, LP has consistently achieved a world-class total incident rate below 1.0 every year, with a rate of 0.5 in 2023. The company's commitment to safety has earned it more than 90 awards since 2010 and over 30 APA awards since 2009.
LP Building Solutions reported strong Q2 2024 results, with record sales and earnings in Siding. Key highlights include:
- Siding net sales up 30% to $415 million
- OSB net sales up 53% to $351 million
- Consolidated net sales up 33% to $814 million
- Net income of $160 million, up $181 million
- Adjusted EBITDA of $229 million, up $135 million
The company repurchased 1.2 million shares for $102 million in Q2 and paid $19 million in dividends. LP increased its Q3 and full-year Siding guidance, citing market share gains and strong execution of its strategy. The company's total liquidity stood at $867 million as of June 30, 2024.
LP Building Solutions, a leading manufacturer of high-performance building products, has released its 2024 Sustainability Report. The report highlights LP's leadership in sustainability through five key pillars: Governance, People, Environment, Products, and Community.
Key achievements include:
- Receiving the Safest Company Award from APA–The Engineered Wood Association for the 11th time in 15 years
- Releasing eight environmental product declarations, showcasing carbon-negative products representing 75% of North American net sales for 2023
- Decreasing Scope 1 and 2 greenhouse gas emissions intensity by 41% since 2019
- Achieving 80% of energy use from renewable sources in 2023
- Being named to Newsweek's list of America's Most Responsible Companies
- Donating nearly $1 million to local community causes
- Training 100% of active North American team members in inclusivity
- Offering free mental health counseling services for U.S. team members
- Sourcing 100% of wood fiber adhering to stringent forest certification standards
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