LP posts strong Q4

Louisiana-Pacific has reported total sales for the fourth quarter of $459 million, up 47% from $312 million in the fourth quarter of 2011. The company reported operating income of $47 million in the fourth quarter, compared with an operating loss of $26 million in the fourth quarter of 2011. 

For the year ended Dec. 31, 2012, LP reported net sales of $1.7 billion compared with $1.4 billion in 2011. Operating income totaled $107 million, compared with an operating loss in 2011 of $140 million.

“We are very pleased that LP is reporting both a profitable fourth quarter and a profitable 2012,” said CEO Curt Stevens. “The U.S. housing recovery picked up momentum in the fourth quarter, with annual housing starts at a seasonally adjusted rate of 954,000 in December. This increase in demand resulted in better OSB pricing and good performance in our Siding segment.”

The OSB segment reported net sales for the fourth quarter of $243 million, up 86% compared to $131 million of net sales in the fourth quarter of 2011. For the full year, OSB reported sales of $814 million, up 50% from the prior year. 

The Siding segment reported net sales of $117 million in the fourth quarter of 2012, an increase of 25% from $93 million in the year-ago fourth quarter. For the full year, Siding reported sales of $501 million, up 17% from the prior year.

EWP segment sales in the fourth quarter of 2012 totaled $52 million, up 11% from $46 million in the year-ago quarter. For the full year, EWP reported sales of $213 million, up 5% from the prior year.