Louisiana-pacific Stock Earnings Reports

Q1 2026 highlights: Louisiana-Pacific posted adjusted EBITDA of $82 million and adjusted EPS of $0.38, returning $21 million to shareholders via dividends. Net sales declined year-over-year primarily due to a 28% drop in OSB prices that reduced sales and EBITDA by approximately $66 million; overall OSB weakness was the largest drag on results. Siding showed resilience: price realization exceeded expectations and largely offset lower volumes, with only a modest EBITDA decline. ExpertFinish (prefinished Siding) continues to be the fastest-growing product line, representing 12% of Siding volume and 18% of Siding revenue in Q1; LP is expanding ExpertFinish capacity (Green Bay ramping + Bath upgrades + planned North Branch site). LP secured ~100 million sq ft of SmartSide supply in 2026 across 15 of the top 25 U.S. homebuilders, representing material new-builder penetration and ongoing cross-sell opportunity between Siding and OSB. Safety performance was strong (total incident rate 0.26). Liquidity remained healthy with $164 million cash and $900 million total liquidity (including undrawn revolver). Updated guidance: Q2 Siding revenue $435–445 million and EBITDA $115–120 million; full-year Siding revenue $1.40–1.66 billion and EBITDA $410–425 million. For OSB, Q2 EBITDA is now expected to be about a $10 million loss, and the company’s full-year OSB outlook assumes recent printed prices persist. Management emphasized caution on the back half of the year given weakening macro/demand indicators and crude-oil-driven input volatility. Crude oil sensitivity: roughly each $10/barrel move implies about $0.03/mile variable freight impact (~$1 million/year), and roughly $6–8 million/year impact to raw material costs (split ~75% Siding / 25% OSB), with timing dependent on supplier algorithms. Management reiterated strategic focus on growing SmartSide share with national builders, leveraging product and supply-chain integration, and disciplined operations in a challenging OSB price environment.