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Louisiana-Pacific Corporation (LP Building Solutions) reports developments tied to engineered wood building products for new construction, repair, remodeling, and related markets. The company’s recurring news centers on its Siding portfolio, including LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions, as well as OSB and LP® Structural Solutions products such as LP® FlameBlock® Fire-Rated Sheathing, LP BurnGuard™ FRT OSB, LP WeatherLogic® Air & Water Barrier, LP® TechShield® Radiant Barrier Sheathing, LP Legacy® Premium Sub-Flooring, and LP® TopNotch® 350 Durable Sub-Flooring.
Company updates also cover quarterly results and guidance, cash dividends, product launches and color collections, sustainability recognition, forest stewardship partnerships, and segment trends across Siding, OSB, South American operations, timber, and related activities.
LP Building Solutions (NYSE: LPX) will release its financial results for Q1 2022 on May 3, 2022. A conference call to discuss the results for the quarter ending March 31, 2022 will take place at 11 a.m. ET. CEO Brad Southern and CFO Alan Haughie will lead the call. Participants can join by calling 855-638-4813 (U.S.) or 704-288-0619 (international). The live webcast will be accessible through LP's Investor Relations website and will be archived for later viewing.
LP Building Solutions has launched LP NovaCore™ Thermal Insulated Sheathing, a product designed to enhance energy efficiency in building structures. This dual-layered sheathing minimizes thermal bridging and reduces energy costs for homeowners. The product combines extruded polystyrene (XPS) insulation with oriented strand board (OSB), providing a higher R-value than standard sheathing. LP NovaCore complies with International Building Code (IBC) and International Residential Code (IRC), making it suitable for various construction needs. Availability starts in summer 2022.
LP Building Solutions (LP) announced it is the first company in Chile to receive certification under the Programme for the Endorsement of Forest Certification's (PEFC) new Chain of Custody Standard (ST 2002:2020). This certification affirms LP's commitment to sustainability and responsible forestry practices in sourcing wood fiber from certified forests. The PEFC is the world’s largest forest certification system, promoting sustainable forest management. LP has been a pioneer in forest certification since 2000, ensuring all wood fiber sourced in the U.S. and Canada adheres to recognized sustainability standards.
LP Building Solutions has appointed Tony Hamill as Vice President of Siding Manufacturing, effective immediately. Hamill, who has over 30 years of industry experience and joined LP in 2013, previously held roles including Corporate Engineering Manager and Vice President, Engineering. He is expected to enhance the productivity and efficiency of the Siding division, which achieved record growth in 2021. Hamill succeeds Jimmy Mason, who has moved to a new role as Executive Vice President, General Manager of OSB.
On March 4, 2022, LP Building Solutions (LP) announced the completion of the sale of its 50% equity interest in two joint ventures producing I-joists to Resolute Forest Products Inc. (RFP). These joint ventures include Resolute-LP Engineered Wood Larouche Inc. and Resolute-LP Engineered Wood St-Prime Limited Partnership, both located in Quebec. Following the sale, LP will maintain its role as the exclusive distributor for products manufactured at these facilities, ensuring continued operational collaboration.
LP Building Solutions has appointed Jimmy Mason as the new Executive Vice President, General Manager of OSB, effective Feb. 28, 2022. Mason, who has over 20 years of manufacturing experience, succeeds Jason Ringblom. He has been with LP since 2006, excelling in the Siding business, notably during the challenges of the COVID-19 pandemic. Mason aims to lead the OSB segment through current supply chain challenges and is confident in achieving growth and efficiency goals. LP operates 25 plants across North America and Latin America, providing high-performance building products.
Louisiana-Pacific Corporation (LP) reported its Q4 and full-year 2021 results, showing a net sales increase of 15% to $992 million in Q4 and 63% to $4.6 billion for the full year. Net income for Q4 dropped by $62 million to $194 million, while full-year net income rose by $878 million to $1.4 billion. Adjusted EBITDA for Q4 was $305 million, down $23 million, but full-year EBITDA increased by $1.2 billion to $2 billion. The company announced a dividend increase of 22% and plans for $400 million in capital expenditures in 2022 to enhance production capacity.
LP Building Solutions (NYSE: LPX) announced a 22% increase in its quarterly cash dividend to $0.22 per share, up from $0.18. This dividend will be payable on March 14, 2022 to shareholders of record as of February 28, 2022. The increase reflects the company's commitment to delivering value to its shareholders. LP Building Solutions is recognized for its high-performance engineered wood building products, contributing to sustainable construction practices.
LP Building Solutions (LP) announced that Senior Vice President Robin Everhart was named a 2022 Women of Influence honoree by the Nashville Business Journal. Everhart has played a critical role in LP’s strategic transformation into a technology-driven building solutions company since joining in 2019. Her achievements include implementing a comprehensive talent strategy and spearheading LP's focus on diversity, equity, and inclusion. The Nashville Business Journal recognized 35 businesswomen across various categories, with an awards ceremony scheduled for May 10, 2022.
LP Building Solutions (NYSE: LPX) announced it will sell its 50% stake in two joint ventures producing I-joists to Resolute Forest Products Inc. (NYSE: RFP) for $50 million. The ventures, located in Larouche and Saint-Prime, Quebec, have been a 50-50 partnership between the companies. Following the sale, LP will become the exclusive distributor of engineered wood products from these operations. The deal is expected to close in the first half of 2022, pending regulatory approvals.