Overview

* LP Q2 siding sales rise 11% to $460 mln, driven by higher volumes and prices

* OSB sales drop significantly, contributing to a $60 mln decline in consolidated sales

* Adjusted EBITDA beats expectations, adjusted EPS misses estimates, per LSEG data

Outlook

* LP reaffirms full-year siding net sales growth of ~9% to $1.7 bln

* Company expects Q3 siding net sales growth of ~3% to $430 mln

* LP projects full-year capital expenditures of ~$350 mln

* Company anticipates full-year consolidated adjusted EBITDA of ~$405 mln

Result Drivers

* SIDING SALES - Increased by $45 mln due to higher volumes and prices

* OSB CHALLENGES - Decreased by $101 mln due to lower prices

* NET INCOME DECLINE - Impacted by lower OSB prices and additional costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $460 mln

Siding

Sales

Q2 Miss $0.99 $1.05

Adjusted (10

EPS Analysts

)

Q2 EPS $0.77

Q2 Beat $142 mln $130.50

Adjusted mln (8

EBITDA Analysts

)

Q2 $0.28

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and 3 "sell" or "strong sell"

* The average consensus recommendation for the forest & wood products peer group is "buy."

* Wall Street's median 12-month price target for Louisiana-Pacific Corp ( LPX ) is $108.00, about 12.1% above its August 5 closing price of $94.96

* The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)