Strong sales fuel Q2 for Louisiana-Pacific
Louisiana-Pacific Corporation (LP) reported second quarter 2018 net sales of $811 million, rising 17% from second quarter 2017 net sales of $694 million in the second quarter of 2017.
The Nashville, Tenn.-based building products manufacturer also reported a second quarter income from continuing operations of $163 million, soaring 72% compared to a net income from continuing operations of $95 million for the same period last year.
According to LP CEO Brad Southern, this was the company’s best second quarter since 2004. “Our strong results this quarter demonstrate clear progress against our strategy to transform Louisiana-Pacific into a leading building solutions company,” he said.
For the six months of 2018, LP’s net sales grew more than 15% to $1.5 billion compared to $1.3 billion in the first six months of 2017. LP reported an income from continuing operations of $258 million, up 72% from a $150 million for the first half of 2017.
The company’s siding segment reported net sales of $262 million in the second quarter, a 13% increase from net sales of from $231 million in the second quarter of 2017. The siding segment consists of LP SmartSide siding as well as LP’s prefinished CanExel siding line and a minor amount of OSB.
Second quarter sales in LP’s OSB segment increased 19% to $387 million from $325 in the second quarter of 2017.
LP’s South American segment sales increased 15% to $45 million for the second quarter from $39 million in the corresponding quarter last year.
“We are well positioned going into the second half of the year to drive profitable growth and value creation,” said Southern said. “We are optimistic that our end markets will remain favorable, as builders report that traffic remains very strong even in a rising mortgage rate environment."
The Nashville, Tenn.-based building products manufacturer also reported a second quarter income from continuing operations of $163 million, soaring 72% compared to a net income from continuing operations of $95 million for the same period last year.
According to LP CEO Brad Southern, this was the company’s best second quarter since 2004. “Our strong results this quarter demonstrate clear progress against our strategy to transform Louisiana-Pacific into a leading building solutions company,” he said.
For the six months of 2018, LP’s net sales grew more than 15% to $1.5 billion compared to $1.3 billion in the first six months of 2017. LP reported an income from continuing operations of $258 million, up 72% from a $150 million for the first half of 2017.
The company’s siding segment reported net sales of $262 million in the second quarter, a 13% increase from net sales of from $231 million in the second quarter of 2017. The siding segment consists of LP SmartSide siding as well as LP’s prefinished CanExel siding line and a minor amount of OSB.
Second quarter sales in LP’s OSB segment increased 19% to $387 million from $325 in the second quarter of 2017.
LP’s South American segment sales increased 15% to $45 million for the second quarter from $39 million in the corresponding quarter last year.
“We are well positioned going into the second half of the year to drive profitable growth and value creation,” said Southern said. “We are optimistic that our end markets will remain favorable, as builders report that traffic remains very strong even in a rising mortgage rate environment."