Louisiana-Pacific (LPX) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 were $664 million, down $90 million year-over-year, with Siding and OSB segments both experiencing declines due to lower volumes and prices; net income was $26 million, down from $54 million in Q2 2025.

• Adjusted EBITDA for Q2 2026 was $79 million, down $63 million year-over-year; Adjusted Diluted EPS was $0.40, down $0.67 year-over-year.

• Siding business delivered revenue above guidance midpoint, with price increases partially offsetting an 11% volume decline; ExpertFinish volumes grew 1%.

• Operational efficiency improved, with Siding OEE at 85% and OSB OEE at 80–81%.

• Leadership transition announced: CFO Alan Haughie to retire, succeeded by Aaron Howald.

Financial highlights

• Siding net sales decreased by 4% to $441 million in Q2 2026; OSB net sales fell by 27% to $182 million.

• Gross profit for Q2 2026 was $116 million, down from $178 million in Q2 2025; operating cash flow reached $140 million.

• Adjusted EBITDA margin for Q2 2026 was 26%; Siding EBITDA margin was 26%.

• Adjusted EPS was $0.40; $21 million returned to shareholders via dividends; liquidity just under $1 billion, including $228 million cash and $750 million undrawn revolver.

• Capital expenditures for Q2 2026 totaled $59 million; full-year CapEx expected at $320 million.

Outlook and guidance

• Q3 2026 Siding net sales expected at $460–470 million (~5% growth), with Adjusted EBITDA of $110–120 million (~25% margin).

• Full-year 2026 Siding net sales projected at $1.65–1.67 billion (~1% decline), Adjusted EBITDA $410–425 million (25–26% margin); guidance reaffirmed.

• OSB Adjusted EBITDA expected to be negative for both Q3 and full year 2026.

• CapEx for the year projected at $320 million, with Siding accounting for 75% of spend.

• Management expects to meet capital needs through internal cash generation and credit facilities.