Louisiana-Pacific Corp Files Q1 2024 10-Q

Ticker: LPX · Form: 10-Q · Filed: 2024-05-08T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, quarterly-report, regulatory-filing

Related Tickers: LPX

TL;DR

**LPX Q1 2024 10-Q FILED: All systems go, no red flags.**

AI Summary

Louisiana-Pacific Corporation (LPX) reported its quarterly results for the period ended March 31, 2024. The company, incorporated in Delaware, is headquartered in Nashville, TN, and its common stock trades on the New York Stock Exchange under the symbol LPX. LPX has confirmed it has filed all required reports for the preceding 12 months and submitted all Interactive Data Files.

Why It Matters

This filing provides investors with the latest financial performance and operational details of Louisiana-Pacific Corporation, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not contain any immediately apparent negative news or significant deviations from normal reporting.

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-Q filing?

This Form 10-Q is a quarterly report filed by Louisiana-Pacific Corporation pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2024.

Where is Louisiana-Pacific Corporation incorporated?

Louisiana-Pacific Corporation is incorporated in Delaware.

What is the trading symbol for Louisiana-Pacific Corporation's common stock?

The trading symbol for Louisiana-Pacific Corporation's common stock is LPX.

On which exchange is Louisiana-Pacific Corporation's common stock registered?

Louisiana-Pacific Corporation's common stock is registered on the New York Stock Exchange.

Has Louisiana-Pacific Corporation submitted all required Interactive Data Files?

Yes, the filing indicates that Louisiana-Pacific Corporation has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

Filing Stats: 4,741 words · 19 min read · ~16 pages · Grade level 19.4 · Accepted 2024-05-08 13:33:33

Key Financial Figures

Filing Documents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Condensed Consolidated Statements of Income Amounts in millions, except per share amounts (Unaudited) Three Months Ended March 31, 2024 2023 Net sales $ 724 $ 584 Cost of sales ( 511 ) ( 483 ) Gross profit 214 101 Selling, general, and administrative expenses ( 69 ) ( 66 ) Other operating credits and charges, net 1 ( 5 ) Income from operations 145 30 Interest expense ( 4 ) ( 3 ) Investment income 6 5 Other non-operating income (expense) 1 ( 8 ) Income before income taxes 148 23 Provision for income taxes ( 41 ) ( 1 ) Equity in unconsolidated affiliate 1 — Net income $ 108 $ 22 Net income attributed to non-controlling interest — ( 1 ) Net income attributed to LP $ 108 $ 21 Net income attributed to LP per share of common stock: Basic $ 1.49 $ 0.29 Diluted $ 1.48 $ 0.29 Average shares of common stock used to compute Net income per share: Basic 72 72 Diluted 72 72 The accompanying Notes are an integral part of these unaudited Condensed Consolidated Financial Statements. 4 Condensed Consolidated Statements of Comprehensive Income Amounts in millions (Unaudited) Three Months Ended March 31, 2024 2023 Net income $ 108 $ 22 Other comprehensive income (loss), net of tax Foreign currency translation adjustments ( 15 ) 15 Other — 4 Other comprehensive income (loss), net of tax ( 15 ) 19 Comprehensive income 93 42 Comprehensive income associated with non-controlling interest — ( 1 ) Comprehensive income attributed to LP $ 93 $ 41 The accompanying Notes are an integral part of these unaudited Condensed Consolidated Financial Statements. 5 Condensed Consolidated Balance Sheets Amounts in millions, except per share amounts (Unaudited) March 31, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 244 $ 222 Receivables, net of allowance for doubtful accounts of $ 2 as of March 31, 2024 and December 31, 2023. 180 155 Inventories 398 378 Prepaid expenses and other current assets 19 2

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