Louisiana Pacif Stock Price, News & Analysis

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.

LP Building Solutions has awarded over 75 college scholarships to children of LP team members for the 2024–2025 academic year. The company has significantly enhanced its Scholarship Program, increasing the scholarship amount from $1,500 to $2,500 and more than doubling the number of new recipients. This expansion raises the annual potential enrollment to 200 students.

Since its inception, the LP Scholarship Program has awarded nearly $2.5 million in scholarships to more than 470 students. For the 2024–2025 academic year, the program awarded scholarships to 35 first-time recipients and over 40 renewal recipients. Each scholarship provides up to $10,000 for four years of full-time undergraduate study or until the student completes their academic program.

LP also offers a Tuition Assistance Program for its U.S. and Canadian team members, providing reimbursement for eligible expenses when enrolling in degree-seeking programs through accredited universities or equivalent programs through trade or vocational schools.

LP Building Solutions has been awarded the 2023 Safest Company Award from APA – The Engineered Wood Association, marking its 12th win in the 16-year history of the award program. LP achieved an industry-leading Weighted Incident Rate (WIR) of 2.56, significantly lower than the industry average of 8.74. The company won in the category for companies with 11 or more mills.

In addition to the Safest Company Award, five LP mills were individually recognized in the 2023 Safety and Health Awards. Since 2007, LP has consistently achieved a world-class total incident rate below 1.0 every year, with a rate of 0.5 in 2023. The company's commitment to safety has earned it more than 90 awards since 2010 and over 30 APA awards since 2009.