Louisiana-Pacific Corp

Latest Results (22.12.2024):

Siding Sales Surge

In the third quarter of 2024, Louisiana-Pacific Corp reported a significant increase in siding net sales, which rose by 22% to $420 million compared to the same period in 2023. This growth was driven by a 15% increase in sales volumes and a 6% rise in prices, marking a record performance for the Siding segment.

OSB Sales Decline

Conversely, the Oriented Strand Board (OSB) segment experienced a decline in net sales, which fell by 24% to $253 million in the third quarter of 2024. This decrease was primarily due to a 27% drop in selling prices, although there was a slight 2% increase in sales volumes.

Overall Financial Performance

Louisiana-Pacific Corp's consolidated net sales for the third quarter of 2024 decreased by 1% to $722 million. The company's net income also saw a decline, dropping by $27 million to $90 million, or $1.28 per diluted share, compared to the third quarter of 2023.

Capital Allocation and Dividends

During the third quarter of 2024, Louisiana-Pacific Corp repurchased 0.8 million of its common shares for $73 million and invested $44 million in capital expenditures. The company also paid $18 million in cash dividends and announced a quarterly cash dividend of $0.26 per share.

Future Outlook

Looking ahead, Louisiana-Pacific Corp has provided financial guidance for the fourth quarter and full year of 2024. The company expects siding net sales to grow by 9% to 10% year-over-year in the fourth quarter and approximately 17% for the full year. Consolidated Adjusted EBITDA is projected to range from $85 million to $105 million for the fourth quarter and $655 million to $675 million for the full year.