LP cuts 2026 capex outlook as Q3 profit tops estimates
Adjusted EPS of 39 cents topped the 21-cent consensus estimate compiled by Finnhub; sales of $691.0 million were above the $678.3 million estimate.
Key takeaways
- Louisiana-Pacific Corporation (LPX) reported third-quarter 2026 adjusted diluted earnings of 39 cents per share and net sales of $691.0 million, up from $663 million a year earlier. Net income was $23 million. The company cut its full-year 2026 capital expenditures outlook to about $300 million from about $320 million.
LP (LPX) said on Nov. 3 that its third-quarter profit topped estimates and that it had lowered its full-year capital spending outlook.
LP manufactures engineered wood products, including siding and oriented strand board, for builders, remodelers and homeowners.
Here's how the company did:
- Adjusted diluted EPS: 39 cents vs. 37 cents a year earlier
- Diluted EPS: 32 cents vs. 13 cents a year earlier
- Net sales: $691.0 million vs. $663 million a year earlier
- Net income: $23 million vs. $9 million a year earlier
- Adjusted EBITDA: $82 million, flat from a year earlier
- Cash from operating activities: $112 million vs. $89 million a year earlier
Net income rose $14 million in the quarter. Net income has swung from a loss of $8.0 million in the fourth quarter of 2025 to a profit of $27.0 million in the first quarter of 2026, according to its SEC filings.
Siding net sales rose 7% to $473 million from $443 million a year earlier. The company said average selling prices rose 5% and unit shipments rose 2%.
"Siding returned to volume growth in the third quarter and set a new record for net sales," CEO Jason Ringblom said. "LP's expanded distribution network positions SmartSide Trim & Siding for continued growth and share gains."
Segment results
OSB net sales were $180 million, up 1% from $179 million a year earlier. OSB adjusted EBITDA was a loss of $24 million, against a loss of $27 million a year earlier.
For the nine months, OSB adjusted EBITDA fell to a loss of $58 million from a profit of $46 million, the company said, reflecting lower OSB selling prices and sales volumes.
Nine-month net sales were $1.93 billion, down from $2.14 billion a year earlier. Nine-month net income was $76 million, against $154 million.
2026 guidance
LP now expects full-year 2026 capital expenditures of about $300 million, down from about $320 million in its Aug. 5 earnings release. Strategic growth projects are expected to take about $140 million, unchanged, and sustaining maintenance projects about $160 million, down from $180 million.
Cash and capital returns
The company spent $56 million on capital expenditures in the quarter and paid $21 million in cash dividends. It maintained total liquidity of about $1 billion as of Sept. 30.