LP Has Triple-digit Sales Increase

Louisiana-Pacific Corporation (LP) had net sales of $1.3 billion for the second quarter of 2021, an increase of 142 per cent over net sales in the second quarter of 2020. The increase was partly due to revenue increases in the siding and engineered wood products (EWP) segments and increased oriented strand board (OSB) prices. Net income was $498 million for the quarter compared to $33 million in the year-ago period and adjusted earnings before taxes were $684 million compared to $97 million. The siding segment net sales increased 32 per cent year-over-year, the OSB segment net sales increased 281 per cent, and the EWP segment net sales increased 99 per cent.