L-P's siding segment continues to grow; overall net declines
29 May 2019
For the first quarter of 2019, Louisiana Pacific reported net income of $27 million compared to $91 million for the first quarter of 2018. Net sales were $582 million, down from $691 million in the first quarter of 2018.
The company’s sales of SmartSide, which is made in Two Harbors, Hayward and Tomahawk, increased 13 percent compared to the first quarter of 2018. The siding segment reported net sales of $236 million in the first quarter of 2019, an increase of $9 million from $227 million in the first quarter of 2018. For the first quarter of 2019, the Siding segment reported operating income of $33 million compared to $36 million in the first quarter of 2018.
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