Key Points – Second-quarter results weakened: Sales fell $90 million year over year to $664 million and EBITDA dropped $63 million to $79 million, primarily because of lower OSB prices and volumes.
LP expects OSB EBITDA of approximately negative $45 million in Q3 and negative $120 million for 2026 if prices remain flat. – Siding showed resilience and is expected to rebound: Despite a 4% sales decline and weather, freight and inflation disruptions, the segment maintained a 26% EBITDA margin
LP forecasts Q3 Siding revenue of $460 million–$470 million and EBITDA of $110 million–$120 million, with modest volume growth anticipated. – LP is prioritizing Siding investment while reducing spending elsewhere: The company cut its 2026 capital-expenditure outlook by $70 million to about $320 million, largely by delaying OSB maintenance projects, while directing roughly three-quarters of spending toward Siding capacity expansions. – These 3 Rising Dividend Plays Come Cheap Louisiana-Pacific (NYSE:LPX) reported lower second-quarter sales and EBITDA as weak oriented strand board, or OSB, pricing weighed on results, while its Siding segment remained profitable and the company said it expects that business to return to year-over-year growth in the third quarter. Net sales for the second quarter were $664 million, down $90 million from the prior-year period, while EBITDA declined $63 million to $79 million. Adjusted earnings per share were $0.40.
The company generated $140 million in operating cash flow, returned $21 million to shareholders through dividends, and ended the quarter with $228 million in cash and nearly $1 billion of total liquidity, including an undrawn $750 million revolver. Chief Executive Officer Jason Ringblom said LP continued to focus on safety and operational efficiency amid a housing market that “feels like it’s stuck in neutral.” He said lower OSB prices, reflecting soft demand in North and South America, accounted for most of the company’s overall revenue…