Nashville, Tenn.-based Louisiana-Pacific (LP) Corp. recovered from its year-earlier EBITDA loss of $74.2 million to post a net gain of $37.3 million in the third quarter on a 33% jump in sales to $467.8 million for the same period, the building materials manufacturer reported Tuesday. View the full results.
Segments: OSB sales rose nearly two-thirds to $226.6 million during the quarter from a year earlier, pushing adjusted EBITDA from continuing operations up $64 million for the same period; category sales volumes rose 11% and prices increased by one-half. Quarterly operating EBITDA in LP's siding segment increased to $24 million, up $9 million from a year earlier, a gain driven primarily by increased prices as sales grew 20% to $134.1 million for the period. The engineered-wood-product category recorded a $3 million operating loss—unchanged from a year earlier—on a 12% sales gain to $62 million.