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.
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LP Building Solutions announced the successful production of its first LP® SmartSide® products at the Houlton, Maine facility on March 24, 2022. This marks a significant milestone in the company's multi-year plan to expand siding production capacity, driven by surging customer demand. Following the production of the APA-approved SmartSide board on April 19, 2022, the Houlton facility aims to achieve full capacity, adding 220 million square feet to LP's siding production. The project promotes sustainable practices by increasing local fiber consumption and enhancing operational efficiencies.
Louisiana-Pacific Corporation (LP) reported a strong Q1 2022, with net sales up 31% year-over-year to $1,337 million and a net income increase of 51% to $484 million ($5.60/share). The company's Siding Solutions and OSB segments showed notable growth, driven by higher prices and volumes. LP repurchased $104 million in shares during the quarter and has $214 million remaining under its buyback authorization, which has now increased to $814 million. The company also declared a quarterly dividend of $0.22/share as of May 3, 2022.
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LP Building Solutions (LP) announced that Board member Dustan E. McCoy has been named to the 2022 Directorship 100 List™ by the National Association of Corporate Directors (NACD), recognizing his contributions to corporate governance. McCoy, who has been on the Board since 2002 and is the lead independent director, was acknowledged for his integrity and governance expertise. The NACD's list honors those who promote effective board practices. LP's CEO, Brad Southern, praised McCoy's impact over his 20-year tenure. This recognition reflects positively on LP's commitment to strong leadership.
LP Building Solutions (NYSE: LPX) has declared a quarterly cash dividend of $0.22 per share, payable on May 26, 2022, to stockholders on record as of May 12, 2022. This dividend reflects the company's commitment to returning value to its shareholders while maintaining a strong operational performance in the building solutions sector. LP Building Solutions, headquartered in Nashville, operates 25 plants across multiple countries, producing engineered wood products and innovative building solutions.
LP Building Solutions has launched its LP Legacy® Premium Sub-Flooring Adhesive, now available across the U.S. and Canada. This innovative adhesive is designed to streamline sub-flooring installation with superior adhesive strength and application efficiency, covering up to 12 times more area than conventional products. It works on various surfaces and is solvent-free and VOC-compliant. Alongside, LP introduces the LP Legacy Polyurethane Foam Cleaner to maintain applicator efficiency. Both products aim to improve the overall sub-flooring process for builders.
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.