LP Building Solutions’ Q3 results show its OSB manufacturing division remains loss-making due primarily to lower price and volumes.
Group-wide, the company reported net income of $23m for the Q3, ending 30 September 2026, compared to $9m for the same period in 2025.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the company remained flat at $82m for the quarter.
Net income per diluted share was $0.32, up by $0.20, while adjusted diluted earnings per share was $0.39, a year-on-year increase of $0.02.
The company’s Oriented Strand Board (OSB) segment recorded net sales of $180m for the quarter, up 1% from $179m a year earlier.
The OSB segment continued to be loss-making, with an adjusted EBITDA loss of $-24m, though this loss narrowed by 10% from $-27m in Q3 2025.
The result was attributed to higher sales volumes, partly offset by lower average OSB prices.
OSB-structural solutions shipments fell by 10% with no change in average net selling price, while OSB-commodity shipments increased 25% but average net selling prices declined by 6%.
For the nine months ended 30 September 2026, OSB net sales fell 24% to $530m, and adjusted EBITDA fell from $46m to a loss of $-58m, reflecting both lower prices and reduced volumes year on year.
The Siding segment posted net sales of $473m for the quarter, a 7% increase, and adjusted EBITDA of $119m, up 1%.
The increase was due to a 5% rise in average net selling prices and a 2% increase in unit shipments.
Other operations, including the South American business, reported a $3m decrease in net sales and a $4m decline in adjusted EBITDA for the third quarter year-on-year, largely reflecting reduced sales volumes and prices along with increased regional costs.
LP CEO Jason Ringblom said: “Siding returned to volume growth in the third quarter and set a new record for net sales. LP’s expanded distribution network positions SmartSide Trim & Siding for continued growth and share gains.”
