LP Building Solutions Reports First Quarter 2025 Results, Provides Second Quarter Guidance, and Raises Siding Outlook

Louisiana-Pacific Corporation (“LP”), a leading manufacturer of high-performance building products, reported its financial results for the three months ended March 31, 2025.

Key Highlights for First Quarter 2025, Compared to First Quarter 2024

• Siding net sales increased by $41 million (11%) to $402 million
• Oriented Strand Board (OSB) net sales decreased by $46 million to $267 million
• Consolidated net sales remained flat at $724 million
• Net income was $91 million, a decrease of $17 million
• Net income per diluted share was $1.30 per share, a decrease of $0.18 per share
• Adjusted EBITDA⁽¹⁾ was $162 million, a decrease of $20 million
• Adjusted Diluted EPS⁽¹⁾ was $1.27 per diluted share, a decrease of $0.26 per diluted share
• Cash provided by operating activities was $64 million

(1)	This is a non-GAAP financial measure. See “Use of Non-GAAP Information,” “Reconciliation of Net Income to Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted Income, and Non-GAAP Adjusted Diluted EPS” below.

Capital Allocation Update

• Invested $64 million in capital expenditures during the first quarter
• Paid $61 million to repurchase 0.6 million of LP’s common shares during the first quarter, leaving 70 million common shares outstanding and $177 million remaining under the pre-existing share repurchase authorizations as of March 31, 2025
• Paid $20 million in cash dividends during the first quarter
• Announces a quarterly cash dividend of $0.28 per share. The dividend will be payable June 3, 2025 to stockholders of record as of May 20, 2025.
• Total liquidity of $1.0 billion as of March 31, 2025

“LP’s Siding business delivered 11% revenue growth and margin expansion in the first quarter,” said LP Chairperson and Chief Executive Officer Brad Southern. “Despite tariff uncertainty and a slow start to the building season, LP’s Siding order file is on pace for a record second quarter, driven by ExpertFinish growth, share gains in new residential construction, and a recovering shed market.”

First Quarter 2025 Highlights

Net sales for the first quarter of 2025 remained flat at $724 million. Siding revenue increased by $41 million (or 11%), due to 9% higher volumes and 2% higher prices. OSB revenue decreased by $46 million (or 15%), driven by 11% lower prices and 4% lower volumes.

Net income decreased year-over-year by $17 million to $91 million ($1.30 per diluted share). The decrease primarily reflects a $20 million decrease in Adjusted EBITDA. The year-over-year decrease in Adjusted EBITDA includes $39 million due to lower OSB selling prices and volumes, partially offset by a $23 million impact from higher Siding net sales.

Segment Results

Siding

The Siding segment serves diverse end markets with a broad product portfolio of engineered wood siding, trim, soffit, and fascia, including LP^® SmartSide^® Trim & Siding, LP^® SmartSide^® ExpertFinish^® Trim & Siding, LP BuilderSeries^® Lap Siding, and LP^® Outdoor Building Solutions^® (collectively referred to as Siding Solutions).

Strong order files and price realization resulted in higher net sales versus prior year. ExpertFinish products accounted for 10% of volume and 15% of net sales in the three months ended March 31, 2025, contributing to this favorable mix. The increase in Adjusted EBITDA of $16 million reflects the impacts of the net sales increase offset by investments in sales and marketing and $2 million of tariff impact.

OSB

The OSB segment manufactures and distributes OSB structural panel products, including the innovative value-added OSB product portfolio known as LP^® Structural Solutions (which includes LP^® TechShield^® Radiant Barrier, LP WeatherLogic^® Air & Water Barrier, LP Legacy^® Premium Sub-Flooring, LP NovaCore^® Thermal Insulated Sheathing, LP^® FlameBlock^® Fire-Rated Sheathing, and LP^® TopNotch^® 350 Durable Sub-Flooring).

First quarter 2025 net sales for the OSB segment decreased year-over-year by $46 million (or 15%), reflecting a $32 million decrease from lower OSB selling prices and a $13 million decrease in sales volumes.

Adjusted EBITDA for the three months ended March 31, 2025 decreased year-over-year by $36 million, primarily reflecting the impact of lower OSB prices and volumes.

LPSA

The LPSA segment manufactures and distributes OSB structural panel and Siding Solutions products in South America and certain export markets. This segment also sells and distributes a variety of companion products to support the region’s transition to wood frame construction. The LPSA segment carries out manufacturing operations in Chile and Brazil and operates sales offices in Argentina, Brazil, Chile, Colombia, Mexico, Paraguay, and Peru.

The year-over-year net sales and Adjusted EBITDA increases for the three months ended March 31, 2025 reflect higher sales volumes offset by unfavorable currency fluctuations.

For the full first quarter results, click here.

About LP Building Solutions

As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood products that meet the demands of builders, remodelers and homeowners worldwide. LP’s extensive portfolio of innovative and dependable products includes Siding Solutions (LP^® SmartSide^® Trim & Siding, LP^® SmartSide^® ExpertFinish^® Trim & Siding, LP BuilderSeries^® Lap Siding, and LP^® Outdoor Building Solutions^®), LP^® Structural Solutions (LP^® TechShield^® Radiant Barrier, LP WeatherLogic^® Air & Water Barrier, LP Legacy^® Premium Sub-Flooring, LP NovaCore^® Thermal Insulated Sheathing, LP^® FlameBlock^® Fire-Rated Sheathing, and LP^® TopNotch^® 350 Durable Sub-Flooring) and oriented strand board (OSB). In addition to product solutions, LP provides industry-leading customer service and warranties. Since its founding in 1972, LP has been Building a Better World^™ by helping customers construct beautiful, durable homes while shareholders build lasting value. Headquartered in Nashville, Tennessee, LP operates 22 plants across the U.S., Canada, Chile, and Brazil. For more information, visit LPCorp.com.

Contact:

Aaron Howald -Investor Relations – (615) 986-5792 – Aaron.Howald@lpcorp.com

Source: Louisiana-Pacific Corporation