The gradually improving US housing market helped Louisiana-Pacific halve its adjusted loss in the first quarter to 6 cents per share, compared with the same period in 2011.
The company also increased net sales 9% to US$362m, and reported earnings before interest, tax, depreciation and amortisation (EBITDA) at US$21m, against US$13m in 2011.
Louisiana-Pacific’s OSB division increased sales by 13% to US$149m and volumes by 4% and cut its operating loss from US$9.1m to US$300,000.
Composite wood and siding/cladding sales grew 6.5% to US$113.1m, returning an operating profit up US$4m at US$16.8m.
The company’s engineered wood products section recorded an operating loss of US$2.8m, but this was around half the deficit in 2011. I-joist volumes were 2% ahead and LVL and laminated strand lumber (LSL) up 14%.
