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Louisianapacific Corp (LPX) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Louisiana-Pacific Corp

CIK: 60519 Ticker: LPX

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LP Building Solutions Reports Fourth Quarter and Full Year 2021 Results and Provides Q1 2022 Outlook

NASHVILLE, Tenn. (Feb. 22, 2022) - Louisiana-Pacific Corporation (LP) (NYSE: LPX) today reported its financial results for the fourth quarter and year ended December 31, 2021, and announced strategic updates.

Key Highlights for the Fourth Quarter, Compared to the Fourth Quarter of the Prior Year:
Net sales increased by 15% to $992 million
Siding Solutions net sales increased by 9% to $279 million
OSB net sales increased by 10% to $470 million
Net income attributed to LP decreased by $62 million to $194 million ($2.20 per diluted share)
Adjusted Diluted EPS(1) was $2.24 per share, an increase of $0.23 per share
Adjusted EBITDA(1) was $305 million, a decrease of $23 million
Cash provided by operating activities was $201 million, a decrease of $120 million largely due to cash taxes paid

Key Highlights for the Full Year, Compared to Prior Year:
Net sales increased by 63% to $4.6 billion
Siding Solutions net sales increased by 27% to $1.2 billion
OSB net sales increased by $1.2 billion to $2.4 billion
Net income attributed to LP increased by $0.9 billion to $1.4 billion ($14.09 per diluted share)
Adjusted Diluted EPS(1) was $13.97 per share, an increase of $9.66 per share
Adjusted EBITDA(1) was $2.0 billion, an increase of $1.2 billion
Cash provided by operating activities was $1.5 billion, an increase of $0.8 billion
(1) This is a non-GAAP financial measure. See “Use of Non-GAAP Information” and “Reconciliation of Net Income to Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted Income, and Non-GAAP Diluted EPS” below.

Capital Allocation Update
For the full year, LP paid $1.3 billion to repurchase 21.1 million of its common shares, leaving 85.6 million common shares outstanding at December 31, 2021
$500 million share repurchase authorization remains
Paid $66 million in dividends in 2021
Full year capital expenditures in 2021 of $254 million, including $103 million for Siding mill conversions
Cash of $358 million as of December 31, 2021
Declared a 22% increase in quarterly cash dividends to $0.22 per share
We expect capital expenditures for 2022 to be in the range of $400 million to $430 million, including $190 million to $200 million for Siding mill conversions, $130 million to $140 million for sustaining maintenance, and $80 million to $90 million for other strategic growth projects.

“The last quarter of 2021 was a strong finish to a remarkable year despite ongoing logistics challenges and raw material inflation,” said LP Chairman and Chief Executive Officer Brad Southern. “To meet customer demand for our specialty products and accelerate our strategic transformation, LP plans to invest over $400 million in capital projects in 2022, growing our capacity to produce SmartSide, ExpertFinish, and value-added Structural Solutions products.”

Fourth Quarter 2021 Highlights

Net sales for the fourth quarter of 2021 increased year-over-year by $132 million (or 15%), including Siding Solutions growth of $22 million (or 9%), a $42 million (or 10%) increase in OSB revenue (14% higher volumes partially offset by 4% lower OSB prices), an EWP revenue increase of $49 million (or 45%) due to price increases in response to significantly higher raw material input costs, and $13 million (or 26%) of increased revenue in South America, net of $9 million in unfavorable currency movements.


The following information was filed by Louisiana-Pacific Corp (LPX) on Tuesday, February 22, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Louisiana-Pacific Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Accumulated Comprehensive Loss
Accumulated Comprehensive Loss (Details)
Accumulated Comprehensive Loss (Tables)
Acquisitions (Details)
Acquisitions (Notes)
Committments And Contingent Liabilities
Committments And Contingent Liabilities (Details)
Committments And Contingent Liabilities (Tables)
Common Stock Plan (Details)
Earnings Per Share (Details)
Earnings Per Share (Notes)
Earnings Per Share (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets (Tables)
Impairment Of Long-Lived Assets
Impairment Of Long-Lived Assets (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Income Taxes Income Statement Table (Details)
Income Taxes Income Tax Provision (Benefit) From Continuing Operations (Details)
Income Taxes Nol And Credit Carryovers (Details)
Income Taxes Reconciliation Of Deferred Taxes (Details)
Income Taxes Tax Act (Details)
Income Taxes Uncertain Tax Positions (Details)
Investments In And Advances To Affiliates
Investments In And Advances To Affiliates (Details)
Leases (Details)
Leases (Notes)
Leases (Tables)
Long-Term Debt
Long-Term Debt (Details)
Long-Term Debt (Tables)
Long-Term Debt Long-Term Debt Required Repayment Of Principal (Details)
Long-Term Debt Narrative (Details)
Noncontrolling Interests (Details)
Noncontrolling Interests (Notes)
Other Operating Credits And Charges, Net
Other Operating Credits And Charges, Net (Details)
Other Operating Credits And Charges, Net (Tables)
Other Operating Credits And Charges, Net Non-Operating Income And Expense (Details)
Present And Prospective Accounting Pronouncements (Notes)
Product Warranty
Product Warranty (Details)
Product Warranty (Tables)
Retirement Plans And Post Retirement Benefits
Retirement Plans And Post Retirement Benefits (Tables)
Retirement Plans And Post Retirement Benefits Asset Allocation And Fair Value Of Plan Assets (Details)
Retirement Plans And Post Retirement Benefits Defined Benefit Plans (Details)
Retirement Plans And Post Retirement Benefits Defined Contribution Plans And Other Benefit Plans (Details)
Retirement Plans And Post Retirement Benefits Funded Status, Assumptions Used In Benefit Obligations And Amounts Recognized In Balance Sheets (Details)
Retirement Plans And Post Retirement Benefits Pension Costs, Assumptions Used In Net Periodic Costs And Expected Contributions And Payments (Details)
Revenue (Details)
Revenue (Notes)
Revenue (Tables)
Revenue Disaggregation Of Revenue (Details)
Revenue Recognition And Deferred Revenue (Policies)
Segment Information
Segment Information (Tables)
Segment Information Geographic Segments (Details)
Segment Information Identifiable Assets (Details)
Selected Segment Data (Details)
Share Repurchases (Details)
Ssars (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stockholders' Equity Espp (Details)
Stockholders' Equity Preferred Stock (Details)
Stockholders' Equity Share Repurchase Programs (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Accounts Payable (Details)
Summary Of Significant Accounting Policies Asset Retirement Obligation (Details)
Summary Of Significant Accounting Policies Depreciation And Amortization (Details)
Summary Of Significant Accounting Policies Goodwill (Details)
Summary Of Significant Accounting Policies Inventory (Details)
Summary Of Significant Accounting Policies Other Long-Term Liabilities (Details)
Summary Of Significant Accounting Policies Property, Plant And Equipment (Details)
Summary Of Significant Accounting Policies Receivables (Details)
Summary Of Stock Awards Oustanding (Details)
Ticker: LPX
CIK: 60519
Form Type: 10-K Annual Report
Accession Number: 0001628280-22-003299
Submitted to the SEC: Tue Feb 22 2022 1:12:28 PM EST
Accepted by the SEC: Tue Feb 22 2022
Period: Friday, December 31, 2021
Industry: Lumber And Wood Products No Furniture

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