Manufacturer LP logged a 3Q net loss of $20.1 million, a dramatic change from its year-ago net income of $38.1 million.
Though quarterly net sales rose 2% to $518.1 million from $507.4 million in 3Q2013, the cost of sales rose 14.6% to $477 million, up from $416.3 million this time last year.
“LP’s financial results continue to be negatively affected by poor OSB pricing,” said CEO
Curt Stevens. “We have seen higher demand for most of our products but less than anticipated due to the anemic housing recovery.”
