Louisiana-Pacific Corporation's net sales for the 3Q 2020 increased by $192 million to $795 million compared to the 3Q 2019.
Net income for the 3Q 2020 increased by $175 million over the prior year to $177 million, or $1.57 per diluted share. In addition to the increase in OSB pricing and SmartSide growth, wood fiber and resin costs were favorable in the quarter by $9 million compared to the same period in 2019.
Adjusted EBITDA for the 3Q 2020 increased by $224 million over the prior year to $273 million, including $179 million of OSB pricing, $23 million of SmartSide growth, and $9 million of favorable raw material prices. Adjusted Diluted earnings per share for the 3Q 2020 was $1.56 compared to $0.08 in the 3Q 2019.
Total net sales for the first nine months of 2020 increased by $155 million over the prior year to $1.9 billion. Net income for the first nine months of 2020 increased by $197 million to $243 million, or $2.15 per diluted share, compared to the prior year.
Adjusted EBITDA for the first nine months of 2020 increased by $293 million over the prior year to $453 million, including $235 million of OSB pricing, $28 million of SmartSide growth, and $27 million of favorable freight and raw material prices. Adjusted Diluted EPS for the first nine months of 2020 was $2.32 per diluted share compared to $0.32 per diluted share in the first nine months of 2019.
Louisiana-Pacific Corporation engineered wood building products that meet the demands of builders worldwide.
