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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.