Louisiana-pacific Stock Earnings Reports

Key points for investors:

- Q3 results: Total company revenue down 8% year-over-year; consolidated EBITDA was $82 million. Siding volumes were essentially flat; Siding sales revenue grew ~5% driven by price and strong mix (ExpertFinish prefinished siding grew volume +17% and accounted for 10% of Siding volume and 17% of Siding revenue). OSB remains the primary headwind as prices stayed near or barely above variable cost, pressuring earnings. OSB operations achieved 80% OEE (up 2 points YoY) and the team emphasized disciplined capacity/cost management.

- Guidance and outlook: Q4 Siding revenue is guided to about $370 million and Q4 EBITDA to roughly $82 million. Company updated full-year revenue to roughly $1.68 billion (organic growth ~8–9%) and raised its full-year total-company EBITDA outlook (announced increase vs prior guide; company notes full-year total-company EBITDA is roughly in the low-to-mid $420s million range after adjustments). Q4 OSB outlook is only modestly improved; company projects a Q4 OSB segment loss and is managing utilization accordingly.

- Capacity, capital allocation and ExpertFinish: The company is cutting/pausing certain OSB-specific CapEx and deferring projects while continuing longer-lead, mill-agnostic investments. LP is evaluating converting the Maniwaki OSB mill in Quebec to Siding (and other options including Houlton, Peace Valley, greenfield sites) — prioritizing timing, capital efficiency and network optimization. ExpertFinish demand remains strong; LP has implemented a managed order file until additional capacity (~50–70M ft) comes online early next year. Q3 CapEx was $84 million. Company ended Q3 with $316 million cash and over $1 billion of liquidity (including undrawn credit facility).

- Corporate: CEO William (Brad) Southern announced his intention to retire in February; President Jason Ringblom was named the CEO-designate and is positioned to succeed him. Management emphasized confidence in the strategic transformation, continued share gains in Siding, disciplined OSB capacity management, and ability to respond to demand changes via network optimization and operational levers.

- Risks & items to watch: Continued weakness in OSB prices and Southeast demand; timing/decision around Maniwaki conversion versus other capacity options; how ExpertFinish scaling and distribution execution translate into continued share gains; broader housing-starts trajectory and potential impacts on 2026 demand.