Louisiana-Pacific Corporation (NYSE: LPX) reported results for the fourth quarter and year ending December 31, 2016 today.

Total net sales for the fourth quarter totaled $550 million, 19 percent higher than the same quarter one year ago. Total net sales for the year were $2.2 billion, 18 percent higher than the previous year.

 

Income from continuing operations for the fourth quarter was $43 million ($0.29 per diluted share) and income of $150 million ($1.03 per diluted share) for the year.

Non-GAAP adjusted income from continuing operations was $32.8 million ($0.23 per diluted share) for the fourth quarter and income of $130 million ($0.89 per diluted share) for the year. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) from continuing operations for the fourth quarter was $85 million compared to $34 million in the fourth quarter of 2015.

For the year, EBITDA from continuing operations was $346 million compared to $67 million the previous year.

“Our fourth quarter ended very strong which added to an outstanding 2016 for LP,” said CEO Curt Stevens.

“Siding revenues were nearly 20 percent higher in Q4 of this year compared to Q4 of last year while adjusted EBITDA for this business was over 50 percent higher. Coupled with over a 400 percent increase in OSB earnings this quarter compared to last year, the full year ended with an 18 percent increase in revenues, an EPS from continuing operations of $1.03 and adjusted EBITDA of $346 million.”

LPX shares were up today, gaining 4.63 percent.

“I am confident that housing will continue to grow over the next several years as household formations increase and both job and wage growth become stronger,” said Stevens.

“With our new leadership in place, our facilities running well and our sales force focused on growth, 2017 should be a good year for LP.”

Louisiana-Pacific Corporation is a leading manufacturer of quality engineered wood building materials including OSB, structural framing products, and exterior siding for use in residential, industrial and light commercial construction. From manufacturing facilities in the U.S., Canada, Chile and Brazil, LP products are sold to builders and homeowners through building materials distributors and dealers and retail home centers.

LPX is one of the various manufactured housing industry-connected stocks monitored each business day on the industry’s only daily market report, featured exclusively on the Daily Business News.  For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

LPX Q4 2016 and Year End Results.

(Image credits are as shown above.)

Submitted by RC Williams to the Daily Business News for MHProNews.