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In The News:

Louisiana-Pacific Sales Drop 16% in First Quarter

Louisiana-Pacific Corp. (NYSE: LPX), Nashville, TN, reported sales for the first quarter of $445 million, a decrease of 16 percent compared to the same period a year ago. The building materials distributor reported a net loss of $14 million.

The oriented strand board segment reported sales for the first quarter of $195 million, a decrease of 30 percent from the first quarter of 2013.

Sales for the siding segment increased 7 percent to $144 million.

The engineered wood products segment reported sales of $66 million, an increase of 4 percent from a year ago.

The South American segment had sales of $37 million, a decrease of 14 percent.

“The severe weather across much of North America in the first quarter took a toll on building activity and logistics,” said CEO Curt Stevens. “The rail transportation systems in both the U.S. and Canada were in disarray in Q1, which caused unplanned downtime at our operations, increased inventory and late shipments and negatively affected our reported results.”  

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