Louisiana-Pacific Beats on Profit but Cuts Outlook as OSB Slumps

Overview

• Louisiana‑Pacific, which reported first‑quarter results Wednesday, posted adjusted EPS of $0.38 versus $0.18 expected but booked $574 million in revenue, down 21% and below forecasts.
• Management guided second‑quarter revenue to $435 million to $445 million and set 2026 sales at $1.65 billion to $1.67 billion, both well under Wall Street estimates, and projected Q2 adjusted EBITDA of $100 million to $105 million.
• OSB, the wood panel used in homebuilding, was the main drag with Q1 segment sales down 37% to $168 million and a $12 million loss, and the company expects about a $10 million OSB EBITDA loss in Q2 as prices sit below breakeven.
• The Siding unit held up better with $360 million in sales, a 10% decline driven by lower volumes but firmer pricing, and ExpertFinish grew to 18% of Siding revenue as LP added two national builder partners for reach into major markets.
• LP kept about $390 million in 2026 capital spending and is expanding Siding capacity through the new Green Bay ExpertFinish line, a land purchase in North Branch, and engineering toward a possible Maniwaki conversion, while warning each $10 rise in crude oil could add $6 million to $8 million in yearly costs with a one‑to‑two‑quarter lag.