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(June web) AD-Grow-Faster-970x90-Q2

Aug 8, 2023

LP Building Solutions reports Q2 2023 results and capital allocation update

LP Building Solutions has released its financial results for the second quarter of 2023, covering the period ending June 30, 2023.

 

During the second quarter of 2023, Siding Solutions net sales decreased by 11% to $318 million, primarily due to lower volumes, partially offset by higher prices. Oriented Strand Board (OSB) net sales saw a decline of 66% to $229 million, primarily driven by lower prices. Overall, consolidated net sales decreased by 46% to $611 million.

 

Income (loss) attributed to LP from continuing operations also experienced a decrease of $367 million to $(20) million (or $(0.28) per diluted share) compared to the same period in 2022. This decline was influenced, in part, by one-time charges detailed in the report. Adjusted EBITDA for the second quarter of 2023 amounted to $93 million, showing a decrease of $398 million compared to the previous year.

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