LP Q4 sales soar

Louisiana-Pacific Corporation reported fourth quarter 2017 net sales soared 29% to $711 million compared to 2016 net sales of $550 million.

For the full year, net sales increased 22% to $2.7 billion from net sales of $2.2 billion a year ago.

The Nashville, Tenn.-based building products manufacturer also reported a fourth quarter 2017 net income of $130.5 million, more than doubling a net income of $42.2 million in 2016.

“2017 was a strong year for LP, with double-digit growth across all of our business segments,” said Brad Southern, LP CEO.

Southern said LP’s performance resulted in the company investing in growth initiatives, including pumping $150 million into existing plants along with adding additional manufacturing capacity.

During the fourth quarter, LP’s siding segment reported sales of $213 million – a 26% increase from sales of $169 in the same period last year.

OSB segment sales rose 30% to $358 million during the period from sales of $276 million in the fourth quarter 2016. The EWP segment saw sales in the fourth quarter total $92 million, up 38% from the year-ago.