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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) announced the release date for its fourth quarter and year-end 2021 financial results, scheduled for Feb. 22, 2022. The conference call, hosted by CEO Brad Southern and CFO Alan Haughie, will take place at 11 a.m. ET. Participants can join by dialing 855-638-4813 (U.S.) or 704-288-0619 (international). The results will be available on the Investor Relations website, with an archived webcast following the event.
LP Building Solutions (LPX) announced plans to establish a new LP® SmartSide® ExpertFinish® prefinishing facility on 75 acres in Bath, New York, targeting a Q3 2023 opening. This development aims to meet increasing demand for the ExpertFinish product, which has experienced significant growth since its 2020 launch. The facility will create over 60 jobs and is strategically located to serve the Northeastern housing market. The project depends on successful site acquisition and permitting while expanding LP's existing prefinishing capabilities across its three current facilities.
LP Building Solutions announced a donation of over $550,000 in 2021 through its LP Foundation, supporting local nonprofits and public schools in areas like housing and education. The foundation's significant donations included a $50,000 grant to the Adventure Science Center for an urban arboretum and contributions exceeding $10 million in teacher supplies since 2006. LP employees also volunteered extensively, reinforcing the company's commitment to community support and disaster relief efforts following several local crises.
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LP Building Solutions (NYSE: LPX) announced the appointment of Jose A. Bayardo to its Board of Directors, effective immediately. Bayardo, currently the CFO at NOV Inc. (NYSE: NOV), brings extensive experience in finance, strategic planning, and corporate transformations. CEO Brad Southern highlighted Bayardo's insights as pivotal for executing the company's transformation strategy. Bayardo holds degrees from prestigious universities and has a background in investment banking and leadership roles in multiple companies.
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LP Building Solutions appointed Aaron Howald as Vice President, Investor Relations and Business Development, and Craig Miles as Vice President, National Sales, OSB Marketing and Planning. Howald, who joined LP in 2011, has advanced through various roles in the OSB business and corporate finance, playing a crucial part in transforming LP into a leading building solutions company. Miles, with a history at LP since 2004, has been key in developing LP's Structural Solutions portfolio. LP operates 25 plants globally and focuses on high-performance building products.
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Louisiana-Pacific Corporation (LPX) reported impressive Q3 2021 financial results, with net sales surging 53% to $1.2 billion. The growth was driven by a 19% increase in Siding Solutions sales and significant price hikes in OSB, contributing $600 million to revenue. Net income surged 107% to $365 million ($3.87 per share), while adjusted EBITDA rose to $522 million. The company allocated $399 million for share buybacks and declared a quarterly dividend of $0.18. Despite challenges like rising raw material costs, LP remains confident in maintaining strong cash flow and growth.
LP Building Solutions announced that Mike Blosser, Senior Vice President of Manufacturing Services, has been elected to the Board of Directors of the American Wood Council (AWC) as of November 1, 2021. With 35 years of experience in the engineered wood industry, Blosser has been with LP since 1999, bringing significant leadership expertise to AWC's mission in shaping public policy and education for wood products. AWC's President praised Blosser's capabilities, highlighting his strong background and commitment to advancing the industry.