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LP BUILDING SOLUTIONS LP Building Solutions Reports Third Quarter 2021 Results , Provides Capital Allocation Update and Fourth Quarter Outlook , and Announces an Additional $ 500 Million Share Repurchase Authorization November 2 , 2021 NASHVILLE , Tenn . , Nov. 2 , 2021 / PRNewswire / -- Louisiana - Pacific Corporation ( LP ) ( NYSE : LPX ) today reported its financial results for the three and nine months ended September 30 , 2021 . Key Highlights for the Third Quarter • Net sales increased by 53 % to $ 1.2 billion . Siding Solutions net sales increased by 19 % to $ 310 million • OSB net sales increased by $ 232 million to $ 600 million , $ 225 million of which was due to higher OSB prices • Net income attributed to LP was $ 365 million ( $ 3.87 per diluted share ) • Cash provided by operating activities was $ 511 million . Adjusted EBITDA ( 1 ) was $ 522 million • Adjusted Diluted EPS ( 1 ) was $ 3.87 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 below " Capital Allocation Update • Paid $ 399 million in the quarter to repurchase 6.8 million shares of LP common stock • As of September 30 , 2021 , 90.2 million common stock shares outstanding • As of November 1 , 2021 , $ 157 million remaining under the $ 1 billion share repurchase authorization ⚫ Paid $ 17 million in cash dividends during the third quarter • Cash of $ 620 million as of September 30 , 2021 • Declared a quarterly cash dividend of $ 0.18 per share • Announces additional authorization of $ 500 million to repurchase LP common stock " As expected , the third quarter saw a significant correction in OSB prices and ongoing headwinds from raw material prices and availability , " said LP Chair and Chief Executive Officer Brad Southern . " Despite these challenges , LP earned $ 522 million in EBITDA and $ 3.87 per share as Siding sales grew by 19 % , EWP and South America delivered record quarters , and OSB continued to generate exceptional cash flow . " Third Quarter 2021 Highlights Net sales for the third quarter of 2021 increased by $ 424 million ( or 53 % ) over the prior year to $ 1.2 billion . Siding Solutions revenue increased by $ 49 million ( or 19 % ) and OSB prices increased by $ 225 million over the prior year period . EWP revenue increased by $ 98 million ( or 95 % ) over the prior year period , primarily due to increased pricing to offset increased input costs . Additionally , South America revenue increased by $ 31 million ( or 69 % ) over the prior year period due to price increases . Net income attributed to LP for the third quarter of 2021 increased by $ 188 million over the prior year period to $ 365 million ( $ 3.87 per diluted share ) primarily due to the growth in Siding Solutions revenue and higher OSB prices , partially offset by increases in income taxes , raw material prices , freight costs , and maintenance projects . Adjusted EBITDA for the third quarter of 2021 increased by $ 249 million over the prior year period to $ 522 million . First Nine Months of 2021 Highlights Net sales for the first nine months of 2021 increased by $ 1.6 billion ( or 85 % ) over the prior year period to $ 3.6 billion . Siding Solutions revenue increased by $ 222 million ( or 34 % ) and OSB prices increased by $ 1.1 billion over the prior year period . EWP revenue increased by $ 200 million ( or 71 % ) over the prior year period , primarily due to increased pricing to offset increased input costs . Additionally , South America revenue increased by