Louisiana-Pacific’s Siding Business Posts Impressive Q4 Results, but OSB Demand Continues to Fall

No-moat-rated Louisiana-Pacific LPX reported fourth-quarter results that were largely in line with our expectation as lower lumber prices and softening demand weighed on its financial performance. Net sales in the fourth quarter decreased 15% year over year, largely due to weakness in the firm’s oriented strand board, or OSB, business. That said, full-year 2022 revenue…