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Louisiana-Pacific Corp. (NYSE: LPX), Nashville, TN, reported sales for the first quarter of $538 million, an increase of 49 percent compared to the year-ago quarter. LP reported a profit of $63.5 million, compared to a year-ago loss of $11.3 million.
LP’s OSB (oriented strand board) segment reported sales for the first quarter of $287 million, an increase of 92 percent from the first quarter of 2012.
LP’s Siding segment reported sales of $134 million in the first quarter, an increase of 18 percent.
The EWP (engineered wood products) segment reported sales of $63 million, an increase of 29 percent from a year ago.
The South American segment had sales of $45 million, an increase of 6 percent year-over-year.
“LP’s strong financial results were driven by a broad recovery of building activity across all regions of the U.S., which led to improved demand for our products and increased OSB pricing,” CEO Curt Stevens said. “In addition, our South America segment continued to perform well.”