Welcome to our dedicated page for Louisiana-Pacific news (Ticker: LPX), a resource for investors and traders seeking the latest updates and insights on Louisiana-Pacific stock.
Louisiana-Pacific Corporation (NYSE: LPX), a pioneer in high-performance building solutions, offers a comprehensive range of innovative and reliable building products. Founded in 1972 and headquartered in Nashville, Tennessee, LP operates 23 plants across the U.S., Canada, Brazil, and Chile, further extending its reach through a joint venture.
Core Offerings:
- Siding Solutions: This segment includes LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions®. These products are recognized for their durability and aesthetic appeal, catering to both new construction and remodeling projects.
- Structural Solutions: LP’s structural offerings consist of LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP® FlameBlock® Fire-Rated Sheathing, and more. These products ensure robust and safe building structures.
- Oriented Strand Board (OSB): As a significant OSB producer, LP manufactures high-quality structural panel products, including the LP® Structural Solutions portfolio, which features innovative items like LP NovaCore® Thermal Insulated Sheathing.
Key Achievements and Financial Highlights:
In the third quarter of 2023, LP reported net sales of $124 million lower year-over-year, reflecting a 15% decrease. Siding segment revenue dropped by $50 million, or 13%, while OSB segment revenue fell by $53 million, or 14%. Furthermore, net income from continuing operations was $118 million, or $1.63 per diluted share, indicating a $10 million year-over-year decrease in adjusted EBITDA.
For the first nine months of 2023, LP experienced a 39% drop in net sales year-over-year, with OSB revenue plummeting by 58% due to lower prices and volumes. The Siding segment saw an 8% decline in revenue, despite a 6% increase in prices. Overall, income from continuing operations was $119 million, or $1.65 per diluted share, primarily due to reduced adjusted EBITDA and business exit charges.
Global Expansion and Partnerships:
Despite a predominant exposure to the North American housing market, LP has expanded its operations globally, particularly in Brazil and Chile. The South American segment manufactures siding products and OSB structural panels, contributing to LP's diversified revenue streams.
Customer Service and Warranties:
LP is committed to delivering exceptional customer service and industry-leading warranties. This dedication ensures that builders, remodelers, and homeowners receive the support and assurance they need for their construction projects.
As a company continually striving for innovation and excellence, LP is at the forefront of creating enduring value for its shareholders and constructing beautiful, durable homes worldwide.
LP Building Solutions and LP Foundation announced over $1.3 million in charitable contributions for 2024, marking their fifth consecutive year of increased donations and fourth straight year exceeding $500,000. The foundation distributed funds to more than 100 nonprofits and public schools, focusing on three main areas: affordable housing, environmental stewardship, and future workforce development.
The Foundation awarded nearly $500,000 in community grants, supporting initiatives like Dickinson Trail Network in Michigan and Goodwill Industries' Skilled Trades Training program. Notable partnerships include the Gary Sinise Foundation, providing LP® SmartSide® materials for veterans' homes, and disaster relief efforts following Hurricane Helene, including OSB donations for rebuilding projects.
LP Building Solutions has been recognized as one of America's Most Responsible Companies for 2025 by Newsweek, marking its second consecutive year receiving this honor. The recognition highlights LP's excellence in environmental, social, and governance (ESG) practices.
The selection process evaluated over 2,000 U.S. public companies, analyzing more than 30 key ESG performance indicators and public perception data from over 26,000 Americans. LP's sustainability initiatives focus on five main areas: governance transparency, inclusive workplace culture, environmental best practices, sustainable product development, and community investment.
As stated by LP Chair and CEO Brad Southern, this recognition reflects the company's dedication to their Building a Better World™ mission, emphasizing sustainable forestry practices and community engagement.
LP Building Solutions has appointed Leslie Davis as Vice President, Controller and Chief Accounting Officer, effective immediately. In her new role, Davis will oversee accounting, internal controls, and financial reporting, while ensuring compliance with governance standards and managing financial disclosures. Davis, who joined LP in 2020 as Assistant Controller and later became Senior Director of Internal Audit, brings over 15 years of financial reporting experience from previous roles at EY and KPMG. She is a Certified Public Accountant with both Master and Bachelor degrees in Accounting from the University of Kentucky.
LP Building Solutions has donated LP® SmartSide® Trim & Siding for retired U.S. Army Sergeant Joshua Hargis' new mortgage-free home. The donation is part of the Gary Sinise Foundation's R.I.S.E. program, which builds specially adapted homes for wounded veterans. Sergeant Hargis, a decorated Army Ranger and K9 handler who served four tours in Afghanistan, will receive the home in a dedication ceremony on Nov. 12.
The LP Foundation, the company's nonprofit arm, has named the Gary Sinise Foundation as its national nonprofit partner, providing annual financial support and donating 100% of needed siding materials for these special homes. LP's veteran support extends to workplace initiatives through programs like Heroes MAKE America and RecruitMilitary.
Louisiana-Pacific (LPX) reported mixed Q3 2024 results with record performance in Siding but weakness in OSB. Siding net sales increased 22% to $420 million, while OSB net sales declined 24% to $253 million. Consolidated net sales decreased 1% to $722 million. Net income was $90 million ($1.28 per diluted share), down from prior year. The company maintained strong liquidity of $896 million and returned capital to shareholders through $73 million in share repurchases and $18 million in dividends during Q3.
LP Building Solutions has expanded its partnership with the Forest Workforce Training Institute to support the ForestryWorks® program. This collaboration aims to address the workforce shortage in the forestry industry by attracting and cultivating diverse talent in manufacturing, forestry, and construction trades. The program, active in 10 states, provides education, career promotion, and hands-on training.
LP's commitment aligns with National Forest Products Week, celebrating sustainable forests and innovative research. The company's Natural Resources Manager, Tim Thornhill, received the 2024 ForestryWorks® Legacy Award for his leadership. LP's support extends to other initiatives, including partnerships with the Manufacturing Institute, National Society of Black Engineers, and Vancouver Island University's training programs for Indigenous Peoples and Women in Trades.
LP Building Solutions (NYSE: LPX) has announced the date for its Third Quarter 2024 Earnings Conference Call. The company will release its financial results on Tuesday, November 5, 2024, followed by a conference call at 11 a.m. ET (8 a.m. PT) on the same day. The call will be hosted by Brad Southern, LP Chair and CEO, and Alan Haughie, Executive VP and CFO.
Interested parties can register to receive a toll-free number and personal access pin for the call. Additionally, a live webcast and accompanying presentation will be available in the News & Events section of LP's Investor Relations website. These materials will also be archived on the website for future reference.
LP Building Solutions (LPX) has expanded its partnership with the Gary Sinise Foundation, committing to donate 100% of the LP® SmartSide® Trim & Siding needed for specially adapted mortgage-free homes built for wounded veterans through the R.I.S.E. program. This expansion builds on LP's support since 2022, which included financial contributions and product donations. The partnership aligns with LP's broader philanthropic efforts, with the LP Foundation having contributed over $22 million to nonprofits and public schools.
LP SmartSide Trim and Siding, known for combining traditional wood beauty with engineered wood durability, will be used in these homes designed to meet the unique needs of severely wounded heroes. This initiative reflects LP's commitment to making a tangible difference in the lives of veterans who have sacrificed for their country.
LP Building Solutions has announced that its entire LP® SmartSide® Trim & Siding product portfolio is now officially carbon negative. This designation was confirmed through environmental product declarations (EPDs) validated by ASTM International in 2023. The products store more carbon than they emit throughout their life cycle, contributing to reduced atmospheric carbon levels.
The LP® SmartSide® portfolio is known for its durability, ease of installation, and aesthetic qualities. The wood-based nature of the products and LP's manufacturing practices result in significantly lower emissions compared to non-wood cladding options. This achievement reinforces LP's commitment to creating sustainable building solutions that are both resilient and efficient to install.
LP Building Solutions has appointed Jeremy Sellers as Vice President of OSB Sales and Marketing. Sellers brings over 15 years of building products experience to the company. In his new role, he will lead the development, alignment, and execution of all sales and marketing programs within LP's OSB segment, including overseeing the LP® Structural Solutions product portfolio, managing strategic partnerships, and steering product marketing campaigns and sales strategies.
LP Executive Vice President, General Manager of OSB Jimmy Mason expressed confidence in Sellers' exceptional sales leadership and strategic vision. Sellers previously worked at Wolf Home Products, advancing from Product Specialist to Senior Vice President of Sales in 2022. He holds a Bachelor of Science in Business Administration from Clarion University of Pennsylvania.
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