Louisiana-Pacific Siding Sales Hit a Record After a Dip

The Tip Desk · November 3, 2026 · 3 min read

Siding net sales reached a record $473 million in the third quarter, reversing a $19 million year-over-year decline, as the company guided fourth-quarter Siding sales to $390 million to $400 million.

Louisiana-Pacific Corporation (LPX), a manufacturer of engineered wood siding and oriented strand board, reported record Siding net sales of $473 million in the third quarter, reversing a $19 million year-over-year decline in the second quarter.

Siding returned to volume growth after the August release had only anticipated a return to growth, Chief Executive Officer Jason Ringblom said. Average net selling prices rose 5% and unit shipments rose 2% versus the year-ago quarter. Sales volume was 477 million square feet, compared with 468 million square feet a year earlier.

Siding Adjusted EBITDA was $119 million, up $1 million from $117 million a year earlier. The company said the improvement came from $23 million of net price gains, $4 million from higher volumes and a $2 million decrease in marketing expenses, offset by a $19 million increase in raw material, freight and labor costs, $6 million of maintenance-related costs and $3 million of unfavorable inventory reduction impacts.

Consolidated net sales were $691 million, compared with $663 million a year earlier. Net income was $23 million, an increase of $14 million, and diluted earnings were $0.32 a share, up $0.20. Consolidated Adjusted EBITDA was $82 million, flat year over year after a $63 million year-over-year decline to $79 million in the second quarter.

OSB net sales were $180 million, up $1 million from $179 million a year earlier, after a $68 million year-over-year decline to $182 million in the second quarter. The company said the year-over-year increase was driven by higher volumes, partially offset by a decline in OSB prices. Commodity volumes rose 25% year over year while commodity prices fell 6%; Structural Solutions volumes fell 10% with prices unchanged.

OSB Adjusted EBITDA was a $24 million loss, $3 million better than the $27 million loss a year earlier. The company attributed the improvement to a $14 million lower inventory reserve adjustment and a $1 million decrease in selling, general and administrative expenses, partially offset by a $7 million impact from lower OSB prices and a $7 million impact from higher inflationary costs, primarily raw materials.

Other operations net sales decreased by $3 million versus the year-ago quarter, primarily due to a decline in sales volumes and selling prices in South America. Adjusted EBITDA decreased by $4 million versus the year-ago quarter, driven by lower South American net sales and higher costs in that market.

Cash provided by operating activities was $112 million. The company invested $56 million in capital expenditures and paid $21 million in cash dividends in the quarter. Total liquidity was approximately $1 billion as of September 30, 2026.

For the fourth quarter of 2026, LP is guiding Siding net sales of $390 million to $400 million, about 3% year-over-year growth, below the $460 million to $470 million third-quarter guide issued in August. Fourth-quarter Siding Adjusted EBITDA is guided at $80 million to $90 million, about a 22% margin. OSB Adjusted EBITDA is guided at a $35 million loss, assuming Random Lengths OSB prices remain unchanged from those published on October 30, 2026. Consolidated Adjusted EBITDA is guided at $30 million to $40 million.

Full-year 2026 Siding net sales guidance is $1.66 billion to $1.67 billion, about a 1% decline, versus $1.65 billion to $1.67 billion in the August guide. Full-year Siding Adjusted EBITDA is $415 million to $425 million, about a 25% margin. Full-year OSB Adjusted EBITDA is a $95 million loss, versus a $120 million loss in the August guide. Full-year consolidated Adjusted EBITDA is $270 million to $280 million. The company expects to spend about $300 million on capital expenditures in full-year 2026 and about $140 million on strategic growth projects and $160 million on sustaining maintenance projects in full-year 2026.