OSB Price Correction Drives LP Revenue

Louisiana-Pacific Corporation (LP) had net sales of $1.2 billion for the third quarter of 2021, an increase of 53 per cent compared to the third quarter of 2020. The siding solutions segment revenue increased 19 per cent year-over-year, the engineered wood products (EWP) segment revenue increased 95 per cent, and the oriented strand board (OSB) segment revenue increased 63 per cent. The company had net income of $365 million for the quarter, up by $188 million over the year-ago period. Adjusted earnings before taxes increased by $249 million over the prior year period to $522 million. “As expected, the third quarter saw a significant correction in OSB prices and ongoing headwinds from raw material prices and availability,” says Brad southern LP chief executive officer.