The 2020 Mid-Year Economic Update_long

Louisiana-Pacific Sales Down 5% in 2Q

Demand for OSB weakened by wet weather in central U.S.

Louisiana-Pacific Corp. (NYSE: LPX), Nashville, TN, reported second quarter sales of $493 million, down 5 percent from second quarter 2014. The building materials manufacturer recorded a loss for the period of $19.5 million, compared to a year-ago profit of $2.1 million.

For the six months ended June 30, LP reported sales of $965 million, up slightly in a year-over-year comparison. Net loss for the period was $54 million, compared to a year-ago loss of $12 million.

“The continued weakness in OSB pricing in the quarter, we believe, was caused by the reduction in demand due to very wet weather in the middle of the country, including Texas,” CEO Curt Stevens said. “With the distribution channel relatively full coming out of the first quarter, reordering was at a slower pace than anticipated.”

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