Siding sales help boost LP Q3
For the third quarter of 2018, Louisiana-Pacific Corporation (LP) reported net sales of $737 million, up 3% from net sales of $718 million in the third quarter of 2017.
The Nashville, Tenn.-based wood and building products manufacturer also reported a net income of $124 million for the third quarter, up 13% from a net income of $109.8 million during the same period a year ago.
“Against a backdrop of OSB headwinds, our results continue to validate our strategy to transform LP into a leading building solutions company and also show the strength in our value-add and specialty products, including LP SmartSide siding and trim,” said Brad Southern, LP CEO.
LP’s siding segment net sales rose nearly 7% to $241 million the quarter but OSB sales fell nearly 6% to $349 million during the period. Engineered wood product sales grew 7% to $105 million in the quarter.
“Looking forward, while we are encouraged by the overall fundamentals in housing, we have experienced pricing declines in OSB associated with some recent supply and demand imbalances,” Southern said.
The Nashville, Tenn.-based wood and building products manufacturer also reported a net income of $124 million for the third quarter, up 13% from a net income of $109.8 million during the same period a year ago.
“Against a backdrop of OSB headwinds, our results continue to validate our strategy to transform LP into a leading building solutions company and also show the strength in our value-add and specialty products, including LP SmartSide siding and trim,” said Brad Southern, LP CEO.
LP’s siding segment net sales rose nearly 7% to $241 million the quarter but OSB sales fell nearly 6% to $349 million during the period. Engineered wood product sales grew 7% to $105 million in the quarter.
“Looking forward, while we are encouraged by the overall fundamentals in housing, we have experienced pricing declines in OSB associated with some recent supply and demand imbalances,” Southern said.