NYSE$LPX
Louisiana-Pacific Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a decrease in net sales and net income due to lower OSB prices and sales volumes, partially offset by higher siding prices.
LP Building Solutions reported a decrease in net sales by 46% to $611 million and a net loss of $20 million for Q2 2023, compared to a net income of $384 million in Q2 2022. The decrease was primarily driven by lower OSB prices and sales volumes, although siding prices increased. Adjusted EBITDA decreased to $93 million from $491 million year-over-year, and adjusted diluted EPS decreased to $0.55 per share from $4.19 per share.
- Siding Solutions net sales decreased by 11% to $318 million due to lower volumes partially offset by higher prices.
- Oriented Strand Board (OSB) net sales decreased by 66% to $229 million, primarily due to lower prices.
- Consolidated net sales decreased by 46% to $611 million.
- Income attributed to LP from continuing operations decreased by $367 million to $(20) million.
Headline financials
Revenue & EPS history
Louisiana-Pacific · Revenue · Quarterly
$611M
Revenue by segment
Louisiana-Pacific · $549M total across 2 segments · Q2 2023
- Siding$320M-10.6%58.3%
- OSB$229M-66.0%41.7%
Forward guidance
LP provided guidance for the full year 2023 and the third quarter of 2023 based on current plans and expectations.
Tailwinds
- OSB third quarter 2023 revenue is expected to be sequentially higher than the second quarter 2023 by at least 50%, assuming that OSB prices published by Random Lengths remain unchanged from those published on July 28, 2023.
- Under these assumptions, third quarter 2023 Adjusted EBITDA is expected to be in the range of $160 million and $180 million.
Headwinds
- Siding Solutions full year 2023 revenue is expected to decrease year-over-year by approximately 10%.
- Capital expenditures for 2023 are expected to be in the range of $290 million to $310 million, including $120 million to $130 million for mill conversions, $120 million to $125 million for sustaining maintenance, and $50 million to $55 million for other strategic growth projects.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.7%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+2.5%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+19.2%
Q1 2024
Best reaction
-13.6%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.0% | +4.6% | +1.2% | |
| Q4 2025 | -4.9% | -13.2% | -22.8% | |
| Q3 2025 | -8.7% | -10.0% | -1.3% | |
| Q1 2025 | +3.3% | +3.5% | +5.6% | |
| Q4 2024 | -10.1% | -13.5% | -17.9% | |
| Q3 2024 | +6.9% | +10.4% | +18.6% | |
| Q2 2024 | +1.9% | +0.1% | -1.9% | |
| Q1 2024 | +19.2% | +20.8% | +23.3% | |
| Q4 2023 | +2.0% | -0.2% | +14.2% | |
| Q3 2023 | +11.7% | +15.0% | +23.1% | |
| Q2 2023 | -13.6% | -15.0% | -15.9% | |
| Q1 2023 | +1.3% | +5.9% | +2.0% | |
| Q4 2022 | -10.7% | -10.8% | -15.7% | |
| Q3 2022 | -7.2% | -6.0% | +13.7% | |
| Q2 2022 | -8.2% | -2.5% | -14.4% | |
| Q1 2022 | +17.9% | +12.2% | +8.8% | |
| Q4 2021 | -9.0% | +0.6% | -5.2% | |
| Q3 2021 | +11.6% | +9.1% | +17.0% | |
| Q2 2021 | +2.5% | +5.4% | +17.4% | |
| Q1 2021 | +4.0% | +8.4% | -3.2% | |
| Q4 2020 | +4.2% | +8.7% | +23.9% | |
| Q3 2020 | +5.1% | +0.7% | +21.3% | |
| Q2 2020 | -1.8% | -0.0% | +1.4% | |
| Q1 2020 | +3.6% | +11.7% | +30.4% | |
| Q4 2019 | +6.0% | +7.2% | -43.2% | |
| Q3 2019 | -0.6% | -2.7% | -2.4% | |
| Q2 2019 | -9.0% | -8.2% | -6.0% | |
| Q1 2019 | -3.4% | -2.2% | -6.0% | |
| Q4 2018 | +9.7% | +10.4% | +1.5% | |
| Q3 2018 | +6.5% | +2.3% | -1.1% | |
| Q2 2018 | +3.1% | +3.3% | +6.6% | |
| Q1 2018 | -2.7% | -2.0% | +5.8% | |
| Q4 2017 | +5.7% | +2.8% | +2.4% | |
| Q3 2017 | -2.0% | -2.9% | -3.3% | |
| Q2 2017 | -3.9% | -2.5% | +1.5% | |
| Q1 2017 | -4.7% | -3.9% | -10.2% | |
| Q4 2016 | +14.1% | +15.8% | +18.6% | |
| Q3 2016 | +4.6% | +1.1% | +10.5% | |
| Q2 2016 | +1.2% | -0.6% | -0.1% | |
| Q1 2016 | +0.8% | — | — | |
| Q4 2015 | +2.6% | — | — | |
| Q3 2015 | -5.4% | — | — | |
| Q2 2015 | +3.7% | — | — | |
| Q1 2015 | +4.3% | — | — | |
| Q4 2014 | +3.8% | — | — | |
| Q3 2014 | +0.1% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | -3.8% | — | — | |
| Q4 2013 | +4.9% | — | — | |
| Q3 2013 | -4.5% | — | — | |
| Q2 2013 | +1.4% | — | — | |
| Q1 2013 | +5.1% | — | — | |
| Q4 2012 | +3.5% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | -5.8% | — | — | |
| Q1 2012 | +6.5% | — | — | |
| Q4 2009 | -2.4% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q3 2011 | +3.0% | — | — | |
| Q3 2010 | +3.0% | — | — | |
| Q2 2010 | -3.5% | — | — | |
| Q2 2011 | -3.5% | — | — | |
| Q1 2010 | -2.4% | — | — | |
| Q1 2011 | -2.4% | — | — | |
| Q4 2010 | -2.4% | — | — |
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