LOUISIANA-PACIFIC CORPORATION (NYSE:LPX) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
Exhibit 99.3, attached hereto, is being furnished to the
Securities and Exchange Commission and shall not be deemed
“filed” for purposes of Section 18 of the Securities Exchange Act
of 1934, nor shall it be deemed incorporated by reference in any
filing under the Securities Act of 1933, except as shall be
expressly set forth by specific reference in such filing.
press release announcing financial results for the quarter ended
March 31, 2017, a copy of which is attached hereto as Exhibit
99.1 and incorporated by reference.
accordance with U.S. generally accepted accounting principles
(GAAP), the attached press release discloses continuing earnings
before interest expense, taxes, depreciation and amortization
(EBITDA) which is a non-GAAP financial measure. Additionally, it
discloses Adjusted EBITDA which further adjusts EBITDA to exclude
stock-based compensation expense, (gain) loss on sale or
impairment of long lived assets, other operating credits and
charges and investment income. It also discloses Adjusted income
from continuing operations which excludes (gain) loss on sale or
impairment of long-lived assets, other operating credits and
charges, net, interest outside of normal operations, early debt
extinguishment and adjusts for a normalized tax rate. EBITDA,
Adjusted EBITDA and Adjusted income from continuing operations
are not a substitute for the GAAP measure of net income or
operating cash flows or other GAAP measures of operating
performance or liquidity. A copy of the reconciliation of
Adjusted income from continuing operations, EBITDA and Adjusted
EBITDA for the quarter ended March 31, 2017>and 2016 is
attached hereto as Exhibit 99.2 and Exhibit 99.3 and incorporated
herein by reference.
we use them as important supplemental measures of our performance
and believe that similarly-titled measures are frequently used by
securities analysts, investors and other interested persons in
the evaluation of companies in our industry, some of which
present similarly-titled measures when reporting their results.
We use EBITDA and Adjusted EBITDA to evaluate our performance as
compared to other companies in our industry that have different
financing and capital structures and/or tax rates. It should be
noted that companies calculate similarly-titled measures
differently and, therefore, as presented by us may not be
comparable to similarly-titled measures reported by other
companies. In addition, EBITDA has material limitations as a
performance measure because it excludes interest expense, income
tax (benefit) expense and depreciation and amortization which are
necessary to operate our business or which we otherwise incurred
or experienced in connection with the operation of our business.
excludes (gain) loss on sale or impairment of long-lived assets,
other operating credits and charges, net, interest outside of
normal operations, and early debt extinguishment, adjusted for a
normalized tax rate is a useful measure for evaluating our
ability to generate earnings and that providing this measure will
allow investors to more readily compare the earnings referred to
in the press release to our earnings for past and future periods.
We believe that this measure is particularly useful where the
amounts of the excluded items are not consistent between the
periods presented. It should be noted that other companies may
present similarly-titled measures differently and, therefore, as
presented by us may not be comparable to similarly-titled
measures reported by other companies. In addition, Adjusted
income from continuing operations has material limitations as a
performance measure because it excludes items that are actually
incurred or experienced in connection with the operations of our
business.
and Exhibits.
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Exhibit
Number
|
Description
|
|
99.1
|
Press release issued by Louisiana-Pacific Corporation
on May 5, 2017, regarding financial results for the quarter ended March 31, 2017. |
|
99.2
|
Reconciliation of EBITDA and Adjusted EBITDA for the
quarter ended March 31, 2017 and 2016. |
|
99.3
|
Reconciliation of Adjusted income from continuing
operations for the quarter ended March 31, 2017 and 2016 and for the quarter ended December 31, 2016. |
About LOUISIANA-PACIFIC CORPORATION (NYSE:LPX)
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America. The OSB segment includes OSB products produced in North America. The siding segment includes Smart Side siding products, CanExel siding products and other related products. The engineered wood products segment includes laminated veneer lumber and laminated strand lumber, I-joists, plywood and other related products. The South America segment includes products produced and or sold in South America. Its other products category includes its remaining timber and timberlands, and other minor products, services and closed operations. It also markets and sells its products in light industrial and commercial construction. LOUISIANA-PACIFIC CORPORATION (NYSE:LPX) Recent Trading Information
LOUISIANA-PACIFIC CORPORATION (NYSE:LPX) closed its last trading session down -0.24 at 25.20 with 2,711,198 shares trading hands.