Building materials manufacturer Louisiana-Pacific Corp. (NYSE: LPX), Nashville, TN, reported sales for the second quarter of $518.5 million, down 8.6 percent year-over-year. Profit was $2.1 million, down from $94.3 million in the second quarter of 2013.
The oriented strand board segment reported sales for the second quarter of $223.7 million, a decrease of 26.9 percent year-over-year. Sales for the siding segment increased 11.1 percent to $169.7 million. The engineered wood products segment reported sales of $80.6 million, an increase of 32.3 percent from a year ago. The South America segment had sales of $41.9 million, a decrease of 5.4 percent.
Year-to-date sales were $963.2 million, down 12.3 percent over the prior-year period. The company reported a loss of $12.1 million, compared to a profit of $159.4 million in the first half of 2013.
“All the signs point to improving demand for housing given demographics, an improving economy and job growth,” said CEO Curt Stevens. “However, for this recovery to reach its potential, steps must be taken to foster credit access to the first time home buyer.”