Higher Prices Drive LP Sales Growth

Louisiana-Pacific Corporation (LP Building Products) had net sales of $1 billion for the first quarter of 2021, an increase of 74 per cent over net sales in the first quarter of 2020. LP SmartSide net sales increased 49 per cent year-over-year to $283 million and OSB net sales increased by $319 million to $539 million, of which $33 million was from higher OSB prices. Net income for the quarter was $320 million, up $287 million over the year-ago period, and adjusted earnings were $461 million, up $378 million. The siding segment net sales increased 35 per cent year-over-year; the OSB segment sales increased 145 per cent; and the engineered wood products segment sales increased 24 per cent.