Louisiana-Pacific Corporation (LP) reported its financial results for the quarter ended March 31, 2020. 1Q net sales increased by 1% to $585 million, compared 1Q 2019. Net income increased by 22% to $33 million ($0.29 per diluted share) in the 1Q 2020.
“We delivered a strong 1Q, but since early March, we have focused on ensuring the safety of our employees and the continuity of our business as the COVID-19 pandemic progresses,” said LP CEO Brad Southern. “We cannot know the duration of the disruption, exactly how our industry will be impacted, or the timing or nature of the recovery. What we do know is that LP has a strong balance sheet, operational agility, and an experienced leadership team that has successfully managed through past crises. I am confident that our ongoing strategic transformation has positioned LP to respond to the evolving challenges and emerging business opportunities presented by the COVID-19 crisis.”
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