Louisiana-Pacific Corp. (NYSE: LPX) reported Q2 EPS of $1.08, $0.10 better than the analyst estimate of $0.98. Revenue for the quarter came in at $811 million versus the consensus estimate of $794.2 million.

• Net sales for the second quarter of $811 million were higher by 17 percent compared to the year ago quarter.
• Income from continuing operations was $163 million ($1.11 per diluted share).
• Non-GAAP adjusted income from continuing operations was $157 million ($1.08 per diluted share).
• Adjusted EBITDA from continuing operations for the second quarter was $242 million.
• Deployed approximately $39 million in cash to repurchase 1.4 million shares during the second quarter.

“Our strong results this quarter demonstrate clear progress against our strategy to transform Louisiana-Pacific into a leading building solutions company,” said Brad Southern, LP Chief Executive Officer. “In fact, this was the best second quarter for LP since 2004, driven by steady execution from our team across the business, strength in OSB pricing as well as ongoing growth in our value added products. Each business ̶ Siding, OSB, Engineered Wood and South America operations ̶ delivered increased top and bottom line results on a year-over-year basis. We remain focused on executing on our key growth initiatives and delivering increased value to shareholders, including capital returns in the form of a new $150 million share repurchase authorization.”

“We are well positioned going into the second half of the year to drive profitable growth and value creation,” Southern said. “We are optimistic that our end markets will remain favorable, as builders report that traffic remains very strong even in a rising mortgage rate environment. Looking ahead, we will continue to leverage our strong balance sheet to deploy capital to the highest return opportunities, while continuing to grow our specialty products business.”

For earnings history and earnings-related data on Louisiana-Pacific Corp. (LPX) click here.