Louisiana Pacif Stock Price, News & Analysis

LP Building Solutions (NYSE: LPX) announced its agreement to acquire the Wawa OSB facility in Ontario from Forex Inc. The conversion will transform the site into an LP® SmartSide® Trim & Siding mill, enhancing LP's production capacity by approximately 400 million square feet, making it the largest single-line siding mill. This acquisition is part of LP's strategy to meet growing customer demand and expand its market presence across North America. The deal is subject to court approval, with completion expected in early May 2023. The new facility will create over 150 sustainable jobs in the region, further solidifying LP's commitment to local economies and sustainable forestry.

LP Building Solutions has partnered with the Outland Youth Employment Program (OYEP) to support Indigenous youth in the forestry industry. This collaboration, which began in 2022, reflects LP's commitment to sustainability and economic growth in local communities. OYEP, a non-profit founded in 2000, has helped over 850 students and planted 2.5 million trees through its programs. The initiative addresses socio-economic gaps faced by Indigenous communities in Canada, particularly exacerbated by the pandemic. LP's support includes scholarships, job placements, and hands-on training opportunities. LP operates 22 plants across North America and is dedicated to building a better world through quality building products.

LP Building Solutions has successfully transitioned its Sagola, Michigan facility from oriented strand board production to manufacturing LP SmartSide products. The first production of LP SmartSide occurred on March 15, 2023, with the first APA-approved board produced on April 7, 2023. This strategic conversion aims to meet the rising demand for SmartSide siding, which is known for its durability and innovative design.

With an expected capacity of 330 million square feet annually, the Sagola facility will enhance LP's total siding production to approximately 2.3 billion square feet. The conversion project, initiated in 2021, highlights the company's commitment to long-term growth in the siding market across North America.

LP Building Solutions (NYSE: LPX) will announce its financial results for Q1 2023 on May 3, 2023. A conference call is scheduled for 11 a.m. ET to discuss the quarter ending March 31, 2023, led by CEO Brad Southern and CFO Alan Haughie. Interested parties can register for the call to obtain access details. The live webcast and presentation will be accessible online, with an archived version available later. LP, known for its engineered wood products, operates 22 plants across North America and South America, offering a range of building solutions since 1972, aiming to construct durable homes and deliver value to shareholders.

LP Building Solutions has appointed Libby Berman as Vice President, Chief Tax Officer, and Bob Hopkins as Vice President, Treasurer. Berman, who joined in 2018, will oversee LP's global tax strategy and reporting, leveraging her extensive experience in the tax domain. Hopkins, with nearly 30 years of treasury experience, has been crucial in managing LP’s financial operations and balance sheet since joining in 2006. The promotions highlight both individuals' contributions to LP’s transformation into a leader in high-performance building products. LP operates 22 plants across the U.S., Canada, Chile, and Brazil, focusing on innovative building solutions.

Louisiana-Pacific Corporation (LPX) reported Q4 2022 net sales of $705 million, down 16% year-over-year, primarily due to a 14% decline in oriented strand board (OSB) prices. Siding Solutions achieved record sales of $385 million, marking a 38% increase. However, OSB sales plummeted 45% to $257 million. The company recorded a loss of $10 million, reflecting a $180 million drop from the previous year, impacted by a $78 million pension settlement charge. For the full year, net sales decreased 2% to $3.9 billion, while cash from operations was $1.1 billion. LPX ended 2022 with over $900 million in liquidity, remaining optimistic about future growth amidst market challenges.

On February 17, 2023, LP Building Solutions (NYSE: LPX) announced a quarterly cash dividend increase from $0.22 to $0.24 per share, representing a 9% rise. This dividend is payable on March 31, 2023, to shareholders of record as of March 10, 2023. LP continues to focus on delivering high-performance building solutions and maintaining shareholder value since its inception in 1972.