Louisiana-Pacific revenue fall 12% to $664 million

• Louisiana-Pacific’s second-quarter sales declined 12% to $664 million as Siding and OSB revenue decreased.
• Net income fell to $26 million, while adjusted EBITDA declined to $79 million from $142 million.
• The company maintained its full-year Siding outlook and expects that segment to return to growth during the third quarter.

Louisiana-Pacific (NYSE:LPX) reported second-quarter sales of $664 million, down 12%, as weaker Siding volumes and OSB prices reduced revenue.

Sales fell from $755 million, with Siding revenue declining 4% to $441 million and OSB revenue dropping 27% to $182 million.

Net income declined to $26 million, adjusted EBITDA fell to $79 million and adjusted diluted EPS decreased to $0.40.

Louisiana-Pacific expects third-quarter Siding sales of $460–$470 million.

The company maintained full-year Siding sales guidance of $1.65–$1.67 billion and consolidated adjusted EBITDA guidance of $255–$270 million.

Louisiana-Pacific invested $59 million in capital projects, paid $21 million in dividends and ended June with approximately $1 billion in liquidity.