LP's strategy of growing Siding and operating OSB with flexibility and discipline continues to deliver value." "Despite this challenging market, Siding sales were flat to prior year quarter, with price increases offsetting lower volume, and the OSB segment delivered positive EBITDA. "Single-Family housing starts were down nearly 30% in the first quarter," said Brad Southern, Chair & CEO.
Declared a quarterly cash dividend of $0.24 per share.Paid $17 million in cash dividends during the first quarter.Paid $114 million in capital expenditures during the first quarter.See "Use of Non-GAAP Information", "Reconciliation of Net Income to Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted Income, and Non-GAAP Adjusted Diluted EPS" below. (1) This is a non-GAAP financial measure. Adjusted Diluted EPS (1) was $0.34 per share, a decrease of $4.41 per share.Adjusted EBITDA (1) was $66 million, a decrease of $532 million.Income from continuing operations attributed to LP decreased by $401 million to $21 million ( $0.29 per diluted share).
As a result, net sales from continuing operations decreased by 50% to $584 million, including 40% related to lower OSB prices.Oriented Strand Board (OSB) net sales decreased by 75% to $189 million, including 63% related to lower OSB prices.Siding Solutions net sales flat at $329 million.Key Highlights for First Quarter 2023, Compared to First Quarter 2022 NASHVILLE, Tenn., /PRNewswire/ - Louisiana-Pacific Corporation (LP) (NYSE: LPX), a leading manufacturer of high-performance building products, today reported its financial results for the three months ended Ma.
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