Louisiana-Pacific Corp. (NYSE: LPX) reported Q3 EPS of $1.56, $0.11 better than the analyst estimate of $1.45. Revenue for the quarter came in at $795 million versus the consensus estimate of $753.09 million.

Key Highlights for the Third Quarter versus Same Quarter Prior Year

• Total net sales increased by 32% to $795 million
  • LP® SmartSide® siding revenue increased by 22% to $260 million - 19% higher sales volume and 3% higher prices
  • OSB segment revenue increased by 87% to $368 million - 97% higher prices offset by 5% lower sales volume
  • South America revenue increased by 25% to $45 million - 33% higher sales volume
  • The strategic exit of fiber decreased net sales by $22 million
• Net income attributed to LP increased by $175 million to $177 million ($1.57 per diluted share)
• Adjusted Diluted EPS(1) increased by $1.48 to $1.56 per share
• Adjusted EBITDA(1) increased by $224 million to $273 million, including $179 million due to increased OSB prices and $23 million due to increased SmartSide sales
• Cash flow from operating activities of $218 million
• LP announces a quarterly cash dividend of $0.145 per share

“Q3 was a record quarter for SmartSide sales, with revenue growth of 22% above Q3 2019," said LP Chief Executive Officer Brad Southern. "LP is almost a year ahead of pace to achieve our transformation targets for growth and efficiency. Most importantly, we accomplished this sustainably and safely.”

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