LP faces ‘headwinds’ in Q4
Louisiana-Pacific Corporation reported fourth quarter 2018 net sales of $589 million, a 17% decrease from fourth quarter 2017 net sales of $711 million.
For the full year, LP – who has rebranded itself as LP Building Solutions – reported net sales of $2.8 billion, up 3% from net sales of $2.7 billion in 2017.
The building products manufacturer posted a net income of $17 million for the fourth quarter, marking a big swing from a net income of $131 million for the fourth quarter 2017.
For the year, the Nashville, Tenn.-based company reported a net income of $395 million, a 1% increase from a net income of $390 million in 2017.
“2018 was a strong year for LP. Although our fourth quarter results were impacted by increasing macro environment headwinds as well as a number of headwinds that we believe to be temporary, we continued to produce positive results from our strategic transformation into a leading building solutions company,” said Brad Southern, LP CEO.
LP’s siding segment reported fourth quarter net sales of $213 million, flat from net sales for the same period last year. For the full year, the siding segment saw sales increase 7% to $942 million.
The company’s oriented strand board (OSB) segment posted net sales of $255 million for the quarter, down 29% from sales of $358 million during the corresponding period a year ago. OSB sales for the year were flat at $1.3 billion.
Engineered wood product sales fell 17% to $76 million for the quarter but increased 7% to $391 million for the year.
In other news, LP’s Board of Directors authorized an additional $600 million stock repurchase and announced that Stephen Macadam, president and CEO of EnPro Industries, has been appointed to the board.
For the full year, LP – who has rebranded itself as LP Building Solutions – reported net sales of $2.8 billion, up 3% from net sales of $2.7 billion in 2017.
The building products manufacturer posted a net income of $17 million for the fourth quarter, marking a big swing from a net income of $131 million for the fourth quarter 2017.
For the year, the Nashville, Tenn.-based company reported a net income of $395 million, a 1% increase from a net income of $390 million in 2017.
“2018 was a strong year for LP. Although our fourth quarter results were impacted by increasing macro environment headwinds as well as a number of headwinds that we believe to be temporary, we continued to produce positive results from our strategic transformation into a leading building solutions company,” said Brad Southern, LP CEO.
LP’s siding segment reported fourth quarter net sales of $213 million, flat from net sales for the same period last year. For the full year, the siding segment saw sales increase 7% to $942 million.The company’s oriented strand board (OSB) segment posted net sales of $255 million for the quarter, down 29% from sales of $358 million during the corresponding period a year ago. OSB sales for the year were flat at $1.3 billion.
Engineered wood product sales fell 17% to $76 million for the quarter but increased 7% to $391 million for the year.
In other news, LP’s Board of Directors authorized an additional $600 million stock repurchase and announced that Stephen Macadam, president and CEO of EnPro Industries, has been appointed to the board.