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Mar 31, 2024
Louisiana-Pacific Q1 2024 Earnings Report
Reported a strong first quarter of 2024 with increased sales and net income compared to the first quarter of 2023, and the company increased its second quarter and full year outlook for 2024.
Key Takeaways
LP Building Solutions reported a 24% increase in consolidated net sales to $724 million and a net income of $108 million for Q1 2024, driven by strong demand for Siding and OSB.
Siding net sales increased by 9% to $361 million.
Oriented Strand Board (OSB) net sales increased by 65% to $313 million.
Net income was $108 million, an increase of $85 million.
The company increased its second quarter and full-year outlook.
Revenue by Segment
Forward Guidance
The Company is providing financial guidance for the second quarter of 2024 and full year 2024.
Positive Outlook
- Siding Net sales year-over-year growth: 20% to 25% (Q2 2024)
- Siding Net sales year-over-year growth: 11% to 13% (Full Year 2024)
- Siding Adjusted EBITDA: $95 million to $105 million (Q2 2024)
- Siding Adjusted EBITDA: $340 million to $360 million (Full Year 2024)
- OSB Adjusted EBITDA: $125 million to $135 million (Q2 2024)
Challenges Ahead
- OSB Adjusted EBITDA is assumed to be at our cycle average run rate of $200 million per year for the third and fourth quarters of 2024.
- LP South America Adjusted EBITDA fully offsets Corporate and Other Adjusted EBITDA.
- Capital expenditures related to strategic growth and sustaining maintenance projects are expected to be between $50 million to $60 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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