Lower Prices Impact LP Sales

Louisiana-Pacific Corporation (LP) had net sales of $852 million in the third quarter of 2022, a decrease of 16 per cent compared to net sales of $1,018 million in the third quarter of 2021. The siding segment had net sales of $394 million for the quarter, up 26 per cent over net sales of $312 million in the year-ago period and the oriented strand board (OSB) segment had net sales of $388 million, down 35 per cent over net sales of $600 million. The results were impacted by lower prices and higher volume. Overall income from continuing operations was $129 million for the third quarter, down 61 per cent from $332 million in the prior-year period. Net income was $226 million compared to $365 million last year.