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 (LP) announced it is the first company in Chile to receive certification under the Programme for the Endorsement of Forest Certification's (PEFC) new Chain of Custody Standard (ST 2002:2020). This certification affirms LP's commitment to sustainability and responsible forestry practices in sourcing wood fiber from certified forests. The PEFC is the world’s largest forest certification system, promoting sustainable forest management. LP has been a pioneer in forest certification since 2000, ensuring all wood fiber sourced in the U.S. and Canada adheres to recognized sustainability standards.
LP Building Solutions has appointed Tony Hamill as Vice President of Siding Manufacturing, effective immediately. Hamill, who has over 30 years of industry experience and joined LP in 2013, previously held roles including Corporate Engineering Manager and Vice President, Engineering. He is expected to enhance the productivity and efficiency of the Siding division, which achieved record growth in 2021. Hamill succeeds Jimmy Mason, who has moved to a new role as Executive Vice President, General Manager of OSB.
On March 4, 2022, LP Building Solutions (LP) announced the completion of the sale of its 50% equity interest in two joint ventures producing I-joists to Resolute Forest Products Inc. (RFP). These joint ventures include Resolute-LP Engineered Wood Larouche Inc. and Resolute-LP Engineered Wood St-Prime Limited Partnership, both located in Quebec. Following the sale, LP will maintain its role as the exclusive distributor for products manufactured at these facilities, ensuring continued operational collaboration.
LP Building Solutions has appointed Jimmy Mason as the new Executive Vice President, General Manager of OSB, effective Feb. 28, 2022. Mason, who has over 20 years of manufacturing experience, succeeds Jason Ringblom. He has been with LP since 2006, excelling in the Siding business, notably during the challenges of the COVID-19 pandemic. Mason aims to lead the OSB segment through current supply chain challenges and is confident in achieving growth and efficiency goals. LP operates 25 plants across North America and Latin America, providing high-performance building products.
Louisiana-Pacific Corporation (LP) reported its Q4 and full-year 2021 results, showing a net sales increase of 15% to $992 million in Q4 and 63% to $4.6 billion for the full year. Net income for Q4 dropped by $62 million to $194 million, while full-year net income rose by $878 million to $1.4 billion. Adjusted EBITDA for Q4 was $305 million, down $23 million, but full-year EBITDA increased by $1.2 billion to $2 billion. The company announced a dividend increase of 22% and plans for $400 million in capital expenditures in 2022 to enhance production capacity.
LP Building Solutions (NYSE: LPX) announced a 22% increase in its quarterly cash dividend to $0.22 per share, up from $0.18. This dividend will be payable on March 14, 2022 to shareholders of record as of February 28, 2022. The increase reflects the company's commitment to delivering value to its shareholders. LP Building Solutions is recognized for its high-performance engineered wood building products, contributing to sustainable construction practices.
LP Building Solutions (LP) announced that Senior Vice President Robin Everhart was named a 2022 Women of Influence honoree by the Nashville Business Journal. Everhart has played a critical role in LP’s strategic transformation into a technology-driven building solutions company since joining in 2019. Her achievements include implementing a comprehensive talent strategy and spearheading LP's focus on diversity, equity, and inclusion. The Nashville Business Journal recognized 35 businesswomen across various categories, with an awards ceremony scheduled for May 10, 2022.
LP Building Solutions (NYSE: LPX) announced it will sell its 50% stake in two joint ventures producing I-joists to Resolute Forest Products Inc. (NYSE: RFP) for $50 million. The ventures, located in Larouche and Saint-Prime, Quebec, have been a 50-50 partnership between the companies. Following the sale, LP will become the exclusive distributor of engineered wood products from these operations. The deal is expected to close in the first half of 2022, pending regulatory approvals.
LP Building Solutions (NYSE: LPX) announced the release date for its fourth quarter and year-end 2021 financial results, scheduled for Feb. 22, 2022. The conference call, hosted by CEO Brad Southern and CFO Alan Haughie, will take place at 11 a.m. ET. Participants can join by dialing 855-638-4813 (U.S.) or 704-288-0619 (international). The results will be available on the Investor Relations website, with an archived webcast following the event.
LP Building Solutions (LPX) announced plans to establish a new LP® SmartSide® ExpertFinish® prefinishing facility on 75 acres in Bath, New York, targeting a Q3 2023 opening. This development aims to meet increasing demand for the ExpertFinish product, which has experienced significant growth since its 2020 launch. The facility will create over 60 jobs and is strategically located to serve the Northeastern housing market. The project depends on successful site acquisition and permitting while expanding LP's existing prefinishing capabilities across its three current facilities.
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