Here are 1-3 brief analogies for Louisiana-Pacific (LPX):

• The Intel of home building materials.
• The Weyerhaeuser of advanced wood panels and siding.

• Oriented Strand Board (OSB): A highly engineered, strong, and durable wood structural panel used in various building applications for walls, roofs, and floors.
• LP SmartSide Siding: An advanced line of engineered wood siding products offering the beauty of traditional wood combined with enhanced durability and impact resistance.
• LP Structural Solutions: A suite of engineered wood products, including I-Joists and Laminated Veneer Lumber (LVL), designed to provide strong, stable, and sustainable framing solutions for residential and commercial construction.

Louisiana-Pacific (LPX) - Major Customers

Louisiana-Pacific (LPX) sells primarily to other companies. Its products, such as oriented strand board (OSB), siding, and other engineered wood products, are integral components in construction and are therefore purchased by businesses within the building materials supply chain.

Based on their distribution channels and the nature of their products, LPX's major customers fall into the following categories, with examples of public companies that are significant players in these segments:

• Wholesale Distributors and Dealers: These companies buy building materials in large volumes from manufacturers like LPX and then sell them to smaller lumberyards, building contractors, and other retailers.
  • BlueLinx Holdings Inc. (BXC)
  • Other large, often regional, building material distributors (some of which are private)
• Retail Building Materials Chains: Large home improvement retailers that cater to both professional contractors and individual do-it-yourself (DIY) customers.
  • The Home Depot, Inc. (HD)
  • Lowe's Companies, Inc. (LOW)
• Homebuilding and Manufactured Housing Companies: Companies that directly utilize LPX's products in the construction of new residential homes and prefabricated or modular housing units. Specific public examples as *major direct customers* are not usually disclosed by LPX, but this category represents a significant end-user segment for their products, often reached through the distributors and dealers listed above.

W. Bradley Southern, Chairman and Chief Executive Officer

Mr. Southern has served as Chief Executive Officer of Louisiana-Pacific since July 2017 and was appointed Chairman in May 2020. He joined LP in 1999 and has held various key leadership roles, including Executive Vice President and Chief Operating Officer from 2016 to 2017, Executive Vice President and General Manager of the Oriented Strand Board (OSB) business from 2015 to 2016, and Senior Vice President and General Manager of the Siding business from 2012 to 2015. Mr. Southern began his career as a forester with MacMillan Bloedel.

Alan Haughie, Executive Vice President and Chief Financial Officer

Mr. Haughie was appointed Executive Vice President and Chief Financial Officer of Louisiana-Pacific in January 2019. Before joining LP, he served as Senior Vice President and Chief Financial Officer of ServiceMaster Global Holdings Inc. from 2013 to 2017, where he was instrumental in the company's initial public offering and a $2.4 billion debt refinancing. Prior to ServiceMaster, Mr. Haughie spent nearly two decades at Federal-Mogul Corporation, holding various positions including Senior Vice President and Chief Financial Officer, Controller, Chief Accounting Officer, and Director of Financial Planning and Analysis.

Jason Ringblom, President

Mr. Ringblom was appointed President of Louisiana-Pacific, effective April 7, 2025, and is slated to succeed W. Bradley Southern as Chief Executive Officer on February 19, 2026. He joined LP in 2004 and has a rich history with the company, having served in multiple leadership capacities including Executive Vice President and General Manager of both the OSB and Siding divisions. His expertise spans sales, marketing, and operations.

Robin Everhart, Senior Vice President, Chief Human Resources and Transformation Officer

Ms. Everhart was named Senior Vice President, Chief Human Resources and Transformation Officer of Louisiana-Pacific in April 2019. In this role, she leads LP's global human resources strategy, driving organizational effectiveness and transformational change. Her background includes a variety of executive and leadership roles within Fortune 500 companies such as Cintas Corporation, The Home Depot, and Winn-Dixie Stores, Inc.

Leslie Davis, Vice President, Controller and Chief Accounting Officer

Ms. Davis has served as Vice President, Controller and Chief Accounting Officer of Louisiana-Pacific since 2024. Prior to her current role, she was the Assistant Controller for the company.

The key risks to Louisiana-Pacific (LPX) business are primarily linked to its exposure to cyclical economic factors and commodity markets:

1. Economic Sensitivity and Housing Market Volatility: Louisiana-Pacific's financial performance is highly dependent on the overall health of the housing market and broader economic conditions. Factors such as interest rates, consumer confidence, and employment levels directly influence the demand for new home construction and repair and remodeling activities. Recent downturns in housing starts underscore the company's susceptibility to economic cycles.
2. Commodity Market Volatility: A significant portion of LPX's products, particularly Oriented Strand Board (OSB), are commodities subject to volatile price fluctuations. OSB has historically accounted for a substantial share of the company's North American net sales, making LPX highly sensitive to changes in commodity pricing and market supply-demand dynamics over which it has limited control. This exposure can lead to unpredictable revenue streams and impact profitability.
3. Supply Chain Risks: LPX faces risks related to its supply chain, including reliance on third-party vendors and suppliers for critical goods and services. The cost and availability of essential raw materials, such as wood fiber and resins, can also pose a threat to the company's operations and profitability.

Louisiana-Pacific Corporation (LPX) primarily operates in the Oriented Strand Board (OSB) and Engineered Wood Siding markets, which are key components of the broader Engineered Wood Products market. The addressable market sizes for their main products and services are as follows:

Oriented Strand Board (OSB)

• Globally, the Oriented Strand Board market was valued at approximately USD 24.2 billion in 2025 and is projected to reach USD 42.3 billion by 2035.
• In North America, the OSB market was valued at USD 13.88 billion in 2023 and is expected to reach USD 19.92 billion by 2029. North America held a significant share, accounting for 70.2% of the global market in 2022.

Engineered Wood Siding

• The global siding market, which includes engineered wood siding, was estimated at USD 116.02 billion in 2024 and is projected to grow to USD 196.78 billion by 2035.
• North America is the largest market for siding, accounting for approximately 40% of the global share. The United States alone contributed an estimated USD 28.5 billion in revenue to the siding industry in 2024.

Overall Engineered Wood Products

• The global engineered wood market was valued at USD 254.2 billion in 2023 and is projected to reach USD 427.3 billion by 2033. Other estimates place the global market at approximately USD 354.40 billion in 2023, with a projection to reach about USD 572 billion by 2032.
• North America is expected to demonstrate the fastest growth within the engineered wood market.

Louisiana-Pacific (LPX) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Continued Volume and Price Growth in the Siding Segment: The Siding segment has been a consistent strong performer, with significant year-over-year increases in both net sales volume and average selling prices. For instance, in Q3 2024, Siding net sales increased by 22% due to 6% higher average selling prices and 15% volume growth. The company anticipates continued growth, projecting fourth-quarter 2024 Siding revenue growth between 9% and 10%, leading to approximately $1.55 billion in full-year sales and about 17% sales growth. Full-year 2024 siding net sales also surged by 17%.
2. Expansion of the ExpertFinish Product Line: ExpertFinish, a premium Siding product, is a significant contributor to positive price/mix and has achieved record revenue and margin. Its continued growth, driven by higher volumes and efficiency improvements in dedicated pre-finishing facilities, is expected to enhance overall Siding revenue and profitability.
3. Increased Siding Production Capacity and Demand Creation Initiatives: LP is actively investing in its Siding business to sustain its growth trajectory. The company plans significant capital expenditures to enhance its production capabilities and is focused on demand creation, indicating a proactive strategy to expand the market for its Siding products.
4. Strategic Focus on Engineered Wood Products Beyond Traditional OSB: While Oriented Strand Board (OSB) sales can be subject to commodity price volatility, LP’s broader portfolio of "Structural Solutions" and other innovative engineered wood products positions the company to grow revenue through higher-value offerings. This strategic diversification helps mitigate the impact of OSB market fluctuations and focuses on products with more stable demand and pricing.

Share Repurchases

• Louisiana-Pacific's buyback yield for fiscal years ending December 2020 to 2024 averaged 9.5%.
• The company's buyback yield peaked in December 2022 at 21.2%.
• As of Q3 2025 year-to-date, Louisiana-Pacific made $61 million in share repurchases.

Capital Expenditures

• Capital expenditures for the full year 2025 are expected to total approximately $350 million. This figure was trimmed by $60 million, primarily due to lower spending on Oriented Strand Board (OSB).
• In 2024, Louisiana-Pacific invested $183 million in capital expenditures.
• During Q3 2025, $84 million in capital expenditures were invested to support the growth of ExpertFinish and Structural Solutions, as well as to ensure the safe and efficient operation of plants.