Louisiana-Pacific (LPX) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose to $691M from $663M; net income was $23M vs. $9M, and Adjusted EBITDA held at $82M.

• Siding set a quarterly sales record at $473M, up 7% YoY, as volume returned to growth; weak OSB pricing and inflation pressured results.

Financial highlights

• Q3 diluted EPS was $0.32 vs. $0.13; Adjusted Diluted EPS was $0.39 vs. $0.37.

• Nine-month net sales were $1.929B vs. $2.141B; net income was $76M vs. $154M, and Adjusted EBITDA was $243M vs. $386M.

• Q3 operating cash flow was $112M vs. $89M; capital expenditures were $56M vs. $84M.

• Q3 gross profit was $114M vs. $129M; income from operations was $29M vs. $18M.

Outlook and guidance

• Q4 Siding net sales are guided to $390M–$400M, up ~3%, with Adjusted EBITDA of $80M–$90M; OSB Adjusted EBITDA is guided to $(35)M and consolidated Adjusted EBITDA to $30M–$40M.

• FY26 Siding net sales guidance is $1.66B–$1.67B, down ~1%, with Adjusted EBITDA of $415M–$425M; OSB guidance is $(95)M and consolidated Adjusted EBITDA is $270M–$280M.

• FY26 capital expenditure guidance is ~$300M: ~$140M for strategic growth and ~$160M for sustaining maintenance.

• OSB guidance assumes Random Lengths prices published Oct. 30, 2026 remain unchanged; Other operations Adjusted EBITDA is assumed at $(15)M for Q4 and $(50)M for FY26.

• Q4 Adjusted EBITDA sensitivities: ±$4M per ±10 MMSF of Siding volume, ±$1M per ±10 MMSF of OSB volume, and ±$6M per ±$10/MSF of OSB price.