LP Building Solutions (NYSE: LPX) reported Q4 EPS of $2.01, $0.27 better than the analyst estimate of $1.74. Revenue for the quarter came in at $860 million versus the consensus estimate of $784.92 million.

"LP ended 2020 having exceeded our 3-year transformation targets for growth and efficiency, with a cumulative EBITDA impact of $178 million. We reached this milestone a year early, largely as a result of exceptional SmartSide sales growth, which reached 30% in Q4," said LP Chairman and Chief Executive Officer Brad Southern. "In order to meet growing customer demand for SmartSide and OSB, LP will convert our mill in Houlton, Maine to the manufacture of SmartSide, with production beginning early in 2022, and we have begun the process to restart our OSB mill in Peace Valley, British Columbia. COVID made 2020 a difficult year for LP employees, our customers, their families, and the communities we all serve. Our results are a testament to their resilience and determination, and I am extremely proud of the results we achieved in the face of these challenges."

Q1 2021 Outlook and 2021 Capital Expenditure Guidance

Our guidance is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks, including those set forth below under

• SmartSide sales in the first quarter of 2021 to be more than 35% higher than the first quarter of 2020.
• OSB sales in the first quarter of 2021 to be sequentially higher than the fourth quarter of 2020 by more than 15% on similar volumes.
• Adjusted EBITDA(2) for the first quarter of 2021 to be greater than $380 million.
• Given our current outlook, we expect capital expenditures for 2021 to be in the range of $220 million to $230 million, including $80 million to $85 million for the Houlton conversion, $30 million to $35 million for other strategic growth projects, $10 million for Peace Valley, and $100 million for sustaining maintenance.

(2) This is a non-GAAP financial measure. With respect to Adjusted EBITDA for the first quarter of 2021, certain items that affect net income on a GAAP basis, such as product-line discontinuance charges, other operating credits and charges, net, loss on early debt extinguishment, investment income, and other non-operating items, that would be required to be included in the comparable forecasted GAAP measures without unreasonable effort. As such, the Company is unable to provide a reasonable estimate of GAAP net income, or a corresponding reconciliation of Adjusted EBITDA to net income.

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