Louisiana-Pacific(US:LPX)2025-11-05 02:12Financial Performance - Consolidated net sales for Q3 2025 decreased by $59 million (8%) to $663 million compared to Q3 2024[7]. - Net income for Q3 2025 was $9 million, a decrease of $82 million from the prior year, resulting in a diluted EPS of $0.13[8]. - Adjusted EBITDA for Q3 2025 was $82 million, a decrease of $71 million year-over-year, reflecting lower OSB prices and increased costs[6][8]. - Net sales for Q3 2025 were $663 million, a decrease of 8.2% from $722 million in Q3 2024[25]. - Gross profit for Q3 2025 was $129 million, down 33.2% from $193 million in Q3 2024[25]. - Net income for Q3 2025 was $9 million, a significant decline of 90% compared to $90 million in Q3 2024[25]. - Adjusted EBITDA for Q3 2025 was $82 million, a decrease of 46.4% from $153 million in Q3 2024[35]. - Adjusted diluted EPS for Q3 2025 was $0.36, down from $1.22 in Q3 2024[35]. Sales and Revenue - Siding net sales increased by $22 million (5%) to $443 million in Q3 2025, while OSB net sales decreased by $74 million (29%) to $179 million[6]. - For the first nine months of 2025, net sales decreased by $119 million (5.4%) to $2.1 billion, with Siding revenue increasing by $108 million (9%) and OSB revenue decreasing by $221 million[9][10]. - The company expects fourth quarter Siding net sales to be approximately $370 million (~3% growth) and full-year Siding net sales to reach ~$1.68 billion (~8% growth)[4]. - Total sales for Q3 2025 were $663 million, down 8.2% from $722 million in Q3 2024[34]. - Sales volume for Siding Solutions in Q3 2025 was 496 million square feet (MMSF), up from 470 MMSF in Q3 2024[31]. Expenses and Costs - Selling, general, and administrative expenses increased to $95 million in Q3 2025, compared to $75 million in Q3 2024[25]. - The Siding segment's Adjusted EBITDA decreased by $6 million (5%) in Q3 2025, while it increased by $30 million (9%) for the first nine months[12]. - OSB segment Adjusted EBITDA for Q3 2025 was $(27) million, a significant decrease of 182% year-over-year, driven by lower prices and sales volume[13][14]. Assets and Equity - Total assets increased to $2,649 million as of September 30, 2025, compared to $2,569 million at the end of 2024[26]. - Stockholders' equity rose to $1,739 million as of September 30, 2025, up from $1,671 million at the end of 2024[26]. Cash Flow and Investments - Cash provided by operating activities for the nine months ended September 30, 2025, was $315 million, down from $500 million in the same period of 2024[27]. - Cash used in investing activities for Q3 2025 was $83 million, compared to $61 million in Q3 2024[27]. - The company repurchased common stock worth $61 million in the nine months ended September 30, 2025[27]. - Capital expenditures for 2025 are projected to be approximately $315 million, with $125 million allocated for strategic growth and $190 million for sustaining maintenance[5]. Market Conditions - Housing starts in the U.S. for Q3 2025 were 364,000, a 3.1% increase from 353,000 in Q3 2024[30]. - The company has not provided specific forward-looking guidance in this release[22]. Impairments and Other - The company reported a loss on impairment of $13 million in Q3 2025, compared to no impairment in Q3 2024[25]. - Total liquidity as of September 30, 2025, was $1.1 billion, providing a strong financial position for future investments[6]. - The average diluted shares outstanding were 70 million for Q3 2025, consistent with Q3 2024[25]. - Adjusted EBITDA is not provided in the financial statements but is considered an important supplemental measure of performance[23].