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LP BUILDING SOLUTIONS LP Building Solutions Reports Second Quarter 2021 Results , Provides Capital Allocation Update and Third Quarter Outlook August 3 , 2021 NASHVILLE , Tenn . , Aug. 3 , 2021 / PRNewswire / -- Louisiana - Pacific Corporation ( LP ) ( NYSE : LPX ) today reported its financial results for the three and six months ended June 30 , 2021 . Key Highlights for the Second Quarter • Net sales increased by 142 % to $ 1.3 billion • Siding Solutions ( formerly referred to as SmartSide® ) net sales increased by 39 % to $ 288 million • OSB net sales increased by $ 574 million to $ 778 million , $ 554 million of which was due to higher OSB prices • Net income attributed to LP was $ 498 million ( $ 4.90 per diluted share ) • Cash provided by operating activities was $ 457 million • Adjusted EBITDA ( 1 ) was $ 684 million • Adjusted Diluted EPS ( 1 ) was $ 4.74 per share ( 1 ) This is a non - GAAP financial measure . See " Use of Non - GAAP Information " and " Reconciliation of Net Income to Non - GAAP Adjusted EBITDA , Non - GAAP Adjusted Income , and Non - GAAP Adjusted Diluted EPS " Capital Allocation Update • Paid $ 465 million in the quarter to repurchase 7.3 million shares of LP common stock • Since quarter end , as of July 30 , 2021 , paid an additional $ 131 million for 2.3 million shares • Paid $ 16 million in cash dividends • Cash and cash equivalents of $ 603 million as of June 30 , 2021 • Declared a quarterly cash dividend of $ 0.18 per share , a mid - year increase of $ 0.02 per share or 13 % " All of LP's segments overcame tightening supply chains to set records for sales and EBITDA in the second quarter of 2021 , resulting in $ 4.74 in adjusted diluted earnings per share , " said LP Chair and Chief Executive Officer Brad Southern . " Siding sales grew by 39 % and higher OSB prices resulted in extraordinary cash flow . The Siding capacity expansion project at Houlton is underway and on schedule , and Peace Valley pressed its first OSB board since restarting in late June . " Second Quarter 2021 Highlights Net sales for the second quarter of 2021 increased by $ 777 million ( or 142 % ) over the prior year to $ 1.3 billion . Siding Solutions revenue increased by $ 81 million ( or 39 % ) and OSB prices increased by $ 554 million over the prior year . South America revenue increased by $ 36 million ( 94 % ) over the prior year due to increases in prices . Additionally , EWP revenue increased by $ 79 million ( 99 % ) over the prior year , primarily due to increased pricing to offset increased input costs . Net income attributed to LP for the second quarter of 2021 increased by $ 465 million over the prior year to $ 498 million ( $ 4.90 per diluted share ) . Adjusted EBITDA for the second quarter of 2021 increased by $ 587 million over the prior year to $ 684 million primarily due to the growth in Siding Solutions and the higher OSB prices partially offset by increases in raw material prices , freight costs , and maintenance projects . First Six Months of 2021 Highlights Net sales for the first six months of 2021 increased by $ 1.2 billion ( or 107 % ) over the prior year to $ 2.3 billion . Siding Solutions revenue increased by $ 172 million ( or 43 % ) and OSB prices increased by $ 888 million over the prior year . South America revenue increased by $ 52 million ( 71 % ) over the prior year due to increases in prices . Additionally , EWP revenue increased by $ 102 million ( 58 % ) over the prior year , primarily due to increased pricing to offset increased input costs .