By Josee Rose
Louisiana-Pacific said firs- quarter net income fell as sales remained flat due to a slow start to the building season.
The manufacturer of building products said net income fell to $91 million, or $1.30 a share, from $108 million, or $1.48 a share, a year earlier.
Analysts polled by Factset had been expecting earnings of $1.16 a share.
Net sales for the quarter remained flat year-over-year, at $724 million. Analysts had been expecting revenue of $709 million.
Sales from its siding unit rose 11% to $402 million due to strong order files and price realization, the company said. However, sales from its OSB segment fell 15% due to lower selling prices and sales volumes.
"Despite tariff uncertainty and a slow start to the building season, LP's Siding order file is on pace for a record second quarter, driven by ExpertFinish growth, share gains in new residential construction, and a recovering shed market," Chair and CEO Brad Southern said in a statement.
Looking ahead, Louisiana-Pacific expects second-quarter siding net sales of $445 million to $455 million and full-year siding sales of $1.78 billion.
Write to Josée Rose at josee.rose@wsj.com
(END) Dow Jones Newswires
May 06, 2025 06:21 ET (10:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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