LP Sales Soar

Louisiana-Pacific Corporation (LP) had net sales of $860 million for the fourth quarter of 2020, an increase of 60 per cent versus net sales of $537 million in the fourth quarter of 2019. Net income for the quarter was $428 million, up from a net loss of $51 million in the year-ago period. Adjusted earnings before taxes was $328 million compared to $49 million last year, the increase primarily due to SmartSide revenue growth and higher OSB prices. The siding segment had net sales of $259 million for the quarter, up 17 per cent over $222 million in the year-ago period; the oriented strand board (OSB) segment had net sales of $428 million compared to $172 million; and the engineered wood products (EWP) segment had net sales of $108 million, up 16 per cent compared to $93 million.