LP reports a 19% sales jump in Q4

Louisiana-Pacific Corporation pulled in a 19% net sales jump during the fourth quarter ended Dec. 31.

Total net sales came in at $550 million, with income from continuing operations of $43 million. That's compared to sales of $463 million in the year-ago period, as well as a net loss of $7.6 million.

For the full fiscal year, sales were $2.2 billion, up 18% over 2015. Net income came in at $150 million, up from the previous year's loss of $88.1 million.

“Our fourth quarter ended very strong which added to an outstanding 2016 for LP,” said Curt Stevens, CEO. “Siding revenues were nearly 20% higher in Q4 of this year compared to Q4 of last year while adjusted EBITDA for this business was over 50% higher. Coupled with over a 400% increase in OSB earnings this quarter compared to last year, the full year ended with an 18% increase in revenues, an EPS from continuing operations of $1.03 and adjusted EBITDA of $346 million."

Segment-wise, OSB had a 34% jump in net sales during the quarter, or 27% for the full year.

Siding also did pretty well, with sales up 18% for the year.

The Engineered Wood Products segment (EWP) had net sales that were down 11% during the quarter, though sales were up 4% for the full-year period.

“I am confident that housing will continue to grow over the next several years as household formations increase and both job and wage growth become stronger,” continued Stevens. “With our new leadership in place, our facilities running well and our sales force focused on growth, 2017 should be a good year for LP."