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Mar 31, 2025
Louisiana-Pacific Q1 2025 Earnings Report
Reported a flat revenue of $724 million with lower OSB offset by stronger Siding performance.
Key Takeaways
Louisiana-Pacific posted $724 million in revenue for Q1 2025, with Siding sales growing 11% to partially offset a 15% drop in OSB revenue. Net income declined to $91 million. Cash from operations was $64 million, and the company raised its siding guidance amid strong order activity.
Siding segment revenue rose by 11% to $402 million, driven by volume and pricing gains.
OSB segment revenue dropped 15% to $267 million due to lower prices and volumes.
Net income fell to $91 million, down from $108 million in Q1 2024.
Adjusted EBITDA was $162 million, a $20 million decrease year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
LP expects continued siding momentum with Q2 siding sales of $445–455 million and a full-year siding revenue of approximately $1.7 billion.
Positive Outlook
- Siding net sales expected to grow 9–10% YoY in Q2.
- Full-year Siding Adjusted EBITDA forecasted at $425–435M.
- ExpertFinish gaining traction, contributing 15% of Q1 siding revenue.
- Siding order file projected to reach record levels in Q2.
- Full-year consolidated Adjusted EBITDA forecasted at $535–555M.
Challenges Ahead
- OSB margins remain under pressure from pricing volatility.
- Q1 cash from operations fell YoY from $105M to $64M.
- Higher capital expenditures forecasted at ~$410 million in 2025.
- Tariff uncertainty continues to affect cost structure.
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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