olivLaw · US equity research
LP Building Solutions (Louisiana-Pacific Corporation) LPX
Lumber & Wood Products (No Furniture) · SIC 2400 · Vertical: Lumber and wood products (SIC 24xx)
LP Building Solutions (Louisiana-Pacific Corporation) makes wood building materials, mainly engineered wood siding, OSB and value-added structural products, for new construction, repair and remodeling and outdoor structures. The company reported net sales of 2,708 million USD in 2025, and in the second quarter of 2026 Siding remained the segment expected to return to growth while OSB declined sharply.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, LP Building Solutions (Louisiana-Pacific Corporation) (LPX) stock was 76.97 USD (−2.35% on the day), with market capitalisation 5.4 bn USD, P/E 78.9 on diluted EPS of 0.98 USD over the last 12 months, dividend yield 0.44%, beta 1.08, 52-week range 64.55–98.57 USD. Latest reported quarter (Q3 2026): revenue of 691.0 m USD (+4.2% YoY), net income of 23.0 m USD (+155.6% YoY), diluted EPS 0.32 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 63.1
- strong (55–70)
- Bollinger (20, 2)
- 64.64 – 78.82
- in the upper half of the band · %B 0.87 · band width 19.8%
- SMA 50 / 200
- 68.76 / 74.85
- mixed trend
- MACD (12, 26, 9)
- 2.24 / 1.64
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +15.1% | −1.1% | +16.2 pp | — |
| 3 months | +1.4% | −0.5% | +1.8 pp | — |
| 6 months | +2.0% | +4.4% | −2.4 pp | — |
| Year to date | −4.7% | +12.3% | −17.0 pp | — |
| 1 year | −1.5% | +13.5% | −15.1 pp | +8.3% |
| 3 years | +30.5% | +76.4% | −45.9 pp | −16.3% |
| 5 years | +17.2% | +63.7% | −46.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 680.0 m | 724.0 m | 755.0 m | 663.0 m | 567.0 m | 574.0 m | 664.0 m | 691.0 m |
| Cost of revenue | 519.0 m | 526.0 m | 577.0 m | 534.0 m | 482.0 m | 459.0 m | 549.0 m | 576.0 m |
| Gross profit | 163.0 m | 197.0 m | 178.0 m | 129.0 m | 85.0 m | 115.0 m | 116.0 m | 114.0 m |
| SG&A | 76.0 m | 75.0 m | 79.0 m | 95.0 m | 79.0 m | 78.0 m | 80.0 m | 76.0 m |
| Operating income | 75.0 m | 120.0 m | 80.0 m | 18.0 m | -9.0 m | 34.0 m | 31.0 m | 29.0 m |
| Depreciation & amortisation | 30.0 m | 35.0 m | 36.0 m | 36.0 m | 32.0 m | 38.0 m | 39.0 m ≈ | 38.0 m ≈ |
| Interest expense | 2.0 m | 3.0 m | 4.0 m | 4.0 m | 6.0 m | 4.0 m | 4.0 m | 4.0 m |
| Pre-tax income | 98.0 m | 116.0 m | 73.0 m | 18.0 m | -11.0 m | 36.0 m | 34.0 m | 31.0 m |
| Income tax | 23.0 m | 26.0 m | 19.0 m | 9.0 m | -4.0 m | 9.0 m | 8.0 m | 9.0 m |
| Net income | 62.0 m | 91.0 m | 54.0 m | 9.0 m | -8.0 m | 27.0 m | 26.0 m | 23.0 m |
| Diluted EPS | 0.91 ≈ | 1.30 | 0.77 | 0.13 | -0.11 ≈ | 0.39 | 0.38 | 0.32 |
| Operating cash flow | 105.0 m | 64.0 m | 162.0 m ≈ | 89.0 m ≈ | 67.0 m | -38.0 m | 140.0 m ≈ | 112.0 m ≈ |
| Capex | 62.0 m | 64.0 m | 68.0 m ≈ | 84.0 m ≈ | 75.0 m | 61.0 m | 59.0 m ≈ | 56.0 m ≈ |
| Dividends paid | 18.0 m | 20.0 m | 19.0 m | 19.0 m | 20.0 m | 21.0 m | 21.0 m | 21.0 m |
| Share repurchases | 24.0 m | 61.0 m | 0 ≈ | 0 ≈ | 0 | 0 | 0 ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 92 percentile of its own 39-quarter history (min 3.2, median 16.1, max 5,697.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.8 bn | 2.3 bn | 2.4 bn | 3.9 bn | 3.9 bn | 2.6 bn | 2.9 bn | 2.7 bn |
| Revenue YoY | +3.4% | −18.3% | +3.9% | +63.2% | −1.6% | −33.0% | +13.9% | −7.9% |
| Net income | 395.0 m | -5.0 m | 499.0 m | 1.4 bn | 1.1 bn | 178.0 m | 420.0 m | 146.0 m |
| Net income YoY | +1.3% | −101.3% | unavailable | +176.0% | −21.1% | −83.6% | +136.0% | −65.2% |
| Diluted EPS | 2.73 | -0.04 | 4.46 | 14.09 | 13.87 | 2.46 | 5.89 | 2.08 |
| Diluted EPS YoY | +2.6% | −101.5% | unavailable | +215.9% | −1.6% | −82.3% | +139.4% | −64.7% |
| net % | 14.0% | -0.2% | 20.8% | 35.2% | 28.2% | 6.9% | 14.3% | 5.4% |
| Free cash flow | 297.0 m | -4.0 m | 588.0 m | 1.2 bn | 730.0 m | 16.0 m | 422.0 m | 91.0 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 292.0 m USD
- Financial debt
- 348.0 m USD
- Net debt
- 56.0 m USD
- Equity
- 1.7 bn USD
- Total assets
- 2.6 bn USD
- Debt / equity
- 0.20x
- Current ratio
- 2.78x
- ROE
- 8.6%
- ROA
- 5.6%
- FCF margin
- 3.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 3.9 bn | 3.9 bn | 2.6 bn | 2.9 bn | 2.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Cost of revenue | 1.6 bn | 2.0 bn | 2.4 bn | 2.0 bn | 2.1 bn | 2.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Gross profit | 833.0 m | 2.0 bn | 1.5 bn | 593.0 m | 832.0 m | 589.0 m | SEC (XBRL)· 17 Feb 2026verified |
| SG&A | 195.0 m | 223.0 m | 264.0 m | 257.0 m | 291.0 m | 329.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Operating income | 615.0 m | 1.7 bn | 1.3 bn | 287.0 m | 530.0 m | 209.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 102.0 m | 114.0 m | 129.0 m | 119.0 m | 123.0 m | 138.0 m | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | 717.0 m ≈ | 1.8 bn ≈ | 1.4 bn ≈ | 406.0 m ≈ | 653.0 m ≈ | 347.0 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Interest expense | 17.0 m | 15.0 m | 14.0 m | 17.0 m | 14.0 m | 17.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Pre-tax income | 605.0 m | 1.7 bn | 1.2 bn | 252.0 m | 560.0 m | 196.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 121.0 m | 402.0 m | 274.0 m | 74.0 m | 140.0 m | 50.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 499.0 m | 1.4 bn | 1.1 bn | 178.0 m | 420.0 m | 146.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 4.46 | 14.09 | 13.87 | 2.46 | 5.89 | 2.08 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 112.0 m | 98.0 m | 78.0 m | 72.0 m | 71.0 m | 70.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 0.15 | — | 0.22 | 0.24 | 0.26 | 0.28 | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 535.0 m | 358.0 m | 369.0 m | 222.0 m | 340.0 m | 292.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Receivables | 184.0 m | 169.0 m | 127.0 m | 155.0 m | 131.0 m | 127.0 m | SEC (XBRL)· 06 May 2026verified |
| Inventories | 259.0 m | 278.0 m | 337.0 m | 378.0 m | 357.0 m | 363.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 993.0 m | 890.0 m | 854.0 m | 778.0 m | 855.0 m | 809.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 918.0 m | 1.0 bn | 1.3 bn | 1.5 bn | 1.6 bn | 1.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 25.0 m | 19.0 m | 19.0 m | 19.0 m | 19.0 m | 19.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 55.0 m | 49.0 m | 45.0 m | 32.0 m | 30.0 m | — | SEC (XBRL)· 19 Feb 2025verified |
| Total assets | 2.1 bn | 2.2 bn | 2.4 bn | 2.4 bn | 2.6 bn | 2.6 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 268.0 m | 304.0 m | 317.0 m | 254.0 m | 287.0 m | 285.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 0 | 0 | 0 | 0 | 0 | 0 | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | 348.0 m | 346.0 m | 346.0 m | 347.0 m | 348.0 m | 348.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 286.0 m | 351.0 m | 336.0 m | 259.0 m | 299.0 m | 291.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 842.0 m | 955.0 m | 916.0 m | 880.0 m | 885.0 m | 896.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 1.2 bn † | 1.2 bn † | 1.4 bn † | 1.6 bn † | 1.7 bn † | 1.7 bn † | SEC (XBRL)· 17 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 659.0 m | 1.5 bn | 1.1 bn | 316.0 m | 605.0 m | 382.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 71.0 m | 254.0 m | 414.0 m | 300.0 m | 183.0 m | 291.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 588.0 m ≈ | 1.2 bn ≈ | 730.0 m ≈ | 16.0 m ≈ | 422.0 m ≈ | 91.0 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -49.0 m | -247.0 m | -146.0 m | -376.0 m | -183.0 m | -291.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | -272.0 m | -1.4 bn | -982.0 m | -77.0 m | -292.0 m | -141.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 65.0 m | 66.0 m | 69.0 m | 69.0 m | 74.0 m | 78.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Share repurchases | 200.0 m | 1.3 bn | 900.0 m | 0 | 212.0 m | 61.0 m | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 19 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 5.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality30
- Growth0
- Balance sheet70
- Returns13
- Valuation3
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 3.68 – 30.56 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E21.39 – 30.56 (Mid 26.83)6 companies used · median multiple 27.5x · quartiles 21.9x – 31.3xCVCO, FBIN, LEGH, SKY, TREX, UFPI
- Dividend discount (DDM)3.68 – 4.95 (Mid 4.22)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 19/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 2.7% | 40 (vs peers) | 9% |
| FCF conversion · Quality | 44.1% | 20 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -11.1% | 0 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | -46.9% | 0 (on a fixed band) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 4.7x | 50 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 2.7x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 78.9x | 0 (vs peers) | 15% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 0.6% | 7 (on a fixed band) | 12% |
| Shareholder yield (distributions) · Returns | 1.5% | 22 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | 276.7% | 0 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet70/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality30/100 · 2/3 factors with a value
- Returns13/100 · 2/2 factors with a value
- Valuation3/100 · 2/3 factors with a value
Memo
LOUISIANA-PACIFIC CORPORATION (LPX). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 2.7 bn USD in 2025; YoY growth -7.9%; net margin 2.7%; ROE 3.9%.
The estimated value range is 12.54–17.76 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 15.52 USD, the price of 76.97 USD leaves a potential of -79.8% (value / price − 1) and a margin of safety of -395.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 19/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.7x
What contradicts it
- FCF conversion: 44.1%
- Revenue CAGR 3Y: -11.1%
- EPS CAGR 3Y: -46.9%
- P/E (TTM): 78.9x
- FCF yield: 0.6%
- Shareholder yield (distributions): 1.5%
- Payout ratio (FCF): 276.7%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Lumber and wood products (SIC 24xx) · same major group (2-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TREXTrex Company, Inc. | 5.6 bn | 32.5 | 17.3% | 13.9% | +2.0% | +60% / −20% |
| FBINFortune Brands Innovations, Inc. | 5.6 bn | 44.2 | 5.5% | 2.9% | −3.2% | −9% / −31% |
| LPXLouisiana-Pacific Corporation | 5.4 bn | 78.9 | 3.9% | 2.7% | −7.9% | −2% / +30% |
| SKYChampion Homes, Inc. | 5.0 bn | 27.7 | 11.8% | 6.8% | +7.3% | +9% / +55% |
| CVCOCavco Industries, Inc. | 4.9 bn | 27.3 | 16.6% | 7.7% | +11.4% | +8% / +128% |
| UFPIUfp Industries, Inc. | 4.5 bn | 20.1 | 7.5% | 3.6% | −5.0% | −11% / −24% |
| KOPKoppers Holdings Inc. | 749.7 m | — | -19.0% | -4.6% | −10.2% | +34% / −12% |
| LEGHLegacy Housing Corporation | 716.1 m | 11.3 | 11.4% | 30.1% | −10.7% | +51% / +34% |
| JELDJELD-WEN Holding, Inc. | 87.6 m | — | -454.4% | -5.3% | −14.9% | −62% / −94% |
| NWGLCL Workshop Group Ltd | 4.4 m | — | -64.0% | -40.5% | −15.4% | −98% / −100% |
| WFGWest Fraser Timber Co. Ltd. | — | — | -14.6% | -17.2% | −11.5% | +13% / −5% |
1- and 3-year price returns: for LPX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 41.01 Total return -46% · Per year -46% | 72.88 Total return -5% · Per year -5% | 110.27 Total return 44% · Per year 44% |
| 3 years | 32.57 Total return -57% · Per year -24% | 65.77 Total return -13% · Per year -5% | 110.27 Total return 45% · Per year 13% |
| 5 years | 25.86 Total return -65% · Per year -19% | 59.36 Total return -21% · Per year -5% | 110.27 Total return 46% · Per year 8% |
- Exit P/E± 16.44
- Net margin± 11.51
- Annual revenue growth± 10.39
- Annual dilution± 0.97
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
In brief
LP Building Solutions (Louisiana-Pacific Corporation) makes wood building materials, mainly engineered wood siding, OSB and value-added structural products, for new construction, repair and remodeling and outdoor structures. The company reported net sales of 2,708 million USD in 2025 1, and in the second quarter of 2026 Siding remained the segment expected to return to growth while OSB declined sharply 3.
SWOT
Strengths
Weaknesses
- The OSB segment depends on commodity prices, which can fall quickly and affect consolidated results 23.
- Sales are concentrated among a limited number of large customers, creating vulnerability if one of them faces financial difficulty 1.
- Quarterly results were hit by lower Siding volumes and inflationary costs, which reduced adjusted EBITDA 3.
Opportunities
- If Siding returns to growth in coming quarters, as the company anticipates, it could partly offset weakness in OSB 3.
- Continued displacement of vinyl and fiber cement by engineered wood may support long-term growth 1.
- Capacity investments in higher-margin products could improve profitability if executed efficiently 1.
Risks
- OSB pricinghigh
OSB commodity prices fell in 2026 and may keep fluctuating, directly affecting segment results 23.
- Housing construction cyclehigh
Demand for the company's products depends on housing starts, which have declined for single-family homes 12.
- Raw material and energy costsmedium
Costs of wood fiber, resins and energy are volatile and could reduce margins if they cannot be passed on to customers 13.
- Production and transport interruptionsmedium
Unplanned plant events or transport delays could affect deliveries and customer relationships 1.
- Cybersecuritylow
Information systems could be compromised, potentially causing operational disruption and data losses 1.
Investment thesis
What would need to be true (bull case)
- If Siding returns to growth in the third quarter, as the company expects, the highest-margin segment could help restore consolidated results 3.
- Its leading position in engineered wood siding and the displacement of competing materials could support long-term growth above the market rate 1.
- If OSB prices stabilize, cost discipline and operating efficiency could significantly improve segment results 23.
What would break the thesis
- Siding volumes fell 11% in the second quarter of 2026, and higher prices did not fully offset the lost volume 3.
- The OSB segment posted negative adjusted EBITDA in the second quarter of 2026, and full-year guidance remains negative, indicating prolonged pressure 3.
- If housing starts keep falling, demand for the company's products could stay weak for longer 2.
What to watch
- Return of Siding to volume and sales growth, as the company anticipatesQ3 2026
- Evolution of OSB prices published by Random Lengths and the effect on OSB adjusted EBITDAQ3 2026
- Achievement of full-year guidance for consolidated adjusted EBITDA of 255 to 270 million USD2026
- Trend in US single-family housing starts published by the Census Bureaunext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
The business
Louisiana-Pacific Corporation, known as LP, is a major provider of high-performance building solutions, headquartered in Nashville, Tennessee, with more than 20 manufacturing facilities across North and South America 1. The company operates through Siding and OSB segments, and its South American business was included in Other from the end of 2025, together with other minor products 1. Principal customers are wholesale distributors, professional dealers, home centers and home builders 1.
Siding generated about 62% of 2025 net sales, OSB about 31%, and the remainder came from other activities 1. The top ten customers accounted for about 47% of net sales in 2025, indicating a relatively high concentration of commercial relationships 1.
The main raw material is wood fiber, and the company states that it sources all its wood fiber as certified under SFI and PEFC standards, which may matter for sustainability-focused customers 1. Seasonality affects demand, which tends to be higher in the building season 1.
Segments
Siding
The Siding segment includes engineered wood siding, trim, soffit and fascia for new construction and repair and remodeling. The company considers itself the largest manufacturer of engineered wood siding in North America 1. In the second quarter of 2026 Siding sales fell 4%, but higher average selling prices partly offset lower volumes 3.
OSB
The OSB segment produces structural panels, including the LP Structural Solutions range with added value. It is a commodity product whose price is driven by the ratio of demand to capacity 1. In the second quarter of 2026 OSB sales fell 27% and adjusted EBITDA turned negative, indicating strong pressure on this segment 3.
Market context
Demand for the company's products depends on new home construction and repair and remodeling in North America, a market described as cyclical 1. In the first half of 2026, single-family housing starts were about 5% lower than a year earlier, while multi-family starts were about 15% higher 2. The global siding market is estimated at roughly 120 billion USD of annual expenditure, leaving room for displacement of competing materials 1.
OSB prices are volatile and influenced by production capacity and imports, so the company cannot predict whether current levels will hold 12. The Siding segment is less sensitive to the new construction cycle because a substantial part of its demand comes from repair and remodeling and outdoor structures 1.
Trends
- Displacement of competing materials by engineered woodtailwind
Sustainable engineered wood products are increasingly replacing vinyl, fiber cement and other materials, which supports Siding growth above the market rate 1.
- Cyclicality of housing constructionheadwind
Lower single-family housing starts and uncertainty over interest rates could reduce demand for OSB and new-construction products 12.
- Pressure on OSB pricesheadwind
Commodity OSB prices fell sharply in 2026, and the company cannot control their direction, which weighs on segment results 23.
- Inflation in raw material, freight and labor costsmixed
Rising costs for raw materials, freight and labor reduced margins, although price increases partly offset the effect 3. If cost pressure persists, margins could stay below earlier levels.
Competitive position
The building materials industry is highly competitive, and the company competes with large diversified producers as well as smaller regional manufacturers 1. For specialty products such as Siding and LP Structural Solutions, competition is based on features, quality, sustainability and availability, while commodity OSB competes on price and availability 1.
Siding competes with vinyl, stucco, wood, fiber cement and brick, and the company's advantage depends on its ability to keep displacing these alternatives 2. In OSB, competition comes from manufacturers worldwide, and prices are influenced by imports 2.
- Other large diversified building materials producers
Sources refer to large diversified producers offering alternative building solutions, without naming them.
- Smaller regional manufacturers
Regional competitors offering a wide variety of materials and product types in local markets.
- Vinyl and fiber cement siding producers
Alternative facade materials whose market share engineered wood siding seeks to displace.
- Global OSB manufacturers
Worldwide producers whose capacity and imports influence OSB prices.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report01 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report31 Jul 2026Other events · Financial statements and exhibits
- Current report01 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report06 May 2026Results of operations · Financial statements and exhibits
- Current report05 May 2026Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / LP Building Solutions (Louisiana-Pacific Corporation) · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / LP Building Solutions (Louisiana-Pacific Corporation) · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / LP Building Solutions (Louisiana-Pacific Corporation) · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.