Despite Q4 slip, LP net income surges in 2013
Louisiana-Pacific’s net income shot up to over five times its 2012 totals in 2013, even though the company posted a loss in the fourth quarter.
Net sales for the quarter ended Dec. 31 were $479.7 million, up from year-ago figures of $453.9 million. For the full year, sales were up 23.3% at $2.09 billion.
Net income for LP came in at a loss of $20.4 million for the quarter, compared to 2012’s fourth-quarter income of $46.1 million. However, LP more than made up for it over the course of 2013, generating $177.1 million in income over 2012’s $28.8 million.
“Each of our segments recorded positive adjusted EBITDA in the fourth quarter and combined to generate $330 million of EBITDA for the full year of 2013,” said Curt Stevens, CEO. “At about 920,000 housing starts in 2013, LP shipped record volumes of our SmartSide siding and a variety of value-added OSB products. This performance bodes well for the future as housing continues to improve.”
ABC to open in La Crosse, Wis.
In La Crosse, Wis., Garrett Meyer was named as branch manager of ABC Supply’s newest location.
The building products distributor will open officially on Feb. 17 at 2325 Enterprise Ave., in La Crosse.
The branch will offer steep-slope and low-slope roofing products and systems, siding, gutter, windows, doors and related products and services.
Beloit, Wis.-based ABC Supply had a temporary location in La Crosse following a storm in 2011 and has been working to establish a permanent location in the area since then, said Wisconsin district manager Jeff Ploch. In the meantime, the company has served area contractors from its branches in Baraboo, Wis., and Chippewa Falls, Wis.
“We’re excited to become a permanent part of the La Crosse community,” Ploch said. “We look forward to strengthening our relationships with the area’s contractors and giving them the high level of service they expect."
Weyerhaeuser has a new VP Southern Timberlands
Weyerhaeuser has named John Enlow VP Southern Timberlands, effective Feb. 24.
Enlow is joining the company from Rayonier. In his most recent role, he served as director of the Atlantic and Northern Timberlands regions.
"John has a real passion for achieving excellence and a proven track record in developing people," says Hunter. "He shares our company values and brings broad experience to this role, including forestry, business development, procurement, finance and sales. John will be an outstanding addition to our team and I look forward to the contributions he’ll make on our journey to become truly great."
Enlow’s appointment fills a vacancy the company had open since Rhonda Hunter was promoted to SVP Timberlands last December.