Louisiana-Pacific reports 2021 earnings
Louisiana-Pacific Corporation reported its earnings for fourth quarter and full year of 2021. The company’s net sales expanded 63.0% to $1.8 billion over 2021. The company attributed much of this growth to higher raw input costs, as the price of plywood and other building materials skyrocketed over 2021 due in tandem to high demand from residential construction and supply chain difficulties resulting in low supply. As a result, its Siding Solutions segment expanded 27.0% to reach $1.2 billion over 2021.
COVID|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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