Louisiana-Pacific Delivers Strong 2017 Results, Riding the Rising Tide of Single-Family Construction
Louisiana-Pacific performed well in 2017, with sales up 22% year on year and EBITDA doubling. The company benefited significantly from single-family home construction, which was up 9% during the year. While we expect wood product pricing to soften in 2018 amid capacity growth, our long-term outlook remains bullish as starts climb from roughly 1.2 million units in 2017 to 1.9 million units in 2021. Our fair value estimate rises to $23 per share from $22, primarily due to the time value of money. ...
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