Louisiana-Pacific Corp

LPX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$61.00	Tkdt	Lkvlkmpf

Louisiana-Pacific Earnings: Wood Products Remain Pressured but OSB Pricing Gains Provide Some Relief

Spencer Liberman

Feb 15, 2024

No-moat Louisiana-Pacific's fourth-quarter results were largely in line with our expectations. Net sales in the quarter were down 7% year over year, but full-year sales tumbled 33% from the year prior, due to substantial weakness in residential housing markets, while favorable oriented strand board, or OSB, pricing offered some relief in the fourth quarter. We've increased our fair value estimate to $54 per share from $52, due to the time value of money.

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