Louisiana-Pacific (LPX) FY2019 results: revenue $2.3 billion, down 18.3% on the year
Louisiana-Pacific Corp. (LPX) reported revenue of $2.3 billion for fiscal 2019, the year ended 31 December 2019, down 18.3% on the year before. Net income was -$5 million, and diluted earnings per share $-0.04. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$2.3 billion
-18.3% on the year
FY2012FY2019
Operating margin
-0.9%
18.6% a year earlier
FY2012FY2019
Net income
-$5 million
FY2012FY2019
Diluted EPS
-$0.04
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,310
2,828
2,734
-18.3%
Cost of revenue
2,007
2,084
1,998
-3.7%
Gross profit
303
744
736
-59.3%
Gross margin
13.1%
26.3%
26.9%
Selling, general and administrative
230
209
191
+9.9%
Operating income
-20.0
526
533
Operating margin
-0.9%
18.6%
19.5%
Interest expense
18.0
19.0
20.0
-5.3%
Pre-tax income
-23.0
521
510
Income tax
-13.0
122
119
Effective tax rate
n/a
23.4%
23.3%
Net income
-5.0
395
390
Net margin
-0.2%
14.0%
14.3%
Diluted EPS
-$0.04
$2.73
$2.66
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
159
510
474
-68.9%
Capital expenditure
163
214
149
-23.9%
Free cash flow
-4.0
296
325
Free cash flow margin
-0.2%
10.5%
11.9%
Cash from investing
-137
-238
-199
Cash from financing
-717
-317
-9.0
Depreciation and amortisation
118
116
3.0
+1.7%
Share-based compensation
n/a
8.6
9.7
Buybacks
638
212
0.0
+201.2%
Dividends paid
65.0
74.0
0.0
-12.2%
Dividend per share
$0.14
$0.13
n/a
+3.8%
Diluted shares, weighted
123m
144m
146m
-14.8%
Shares outstanding at period end
112m
0
145m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
991
1,700
1,604
-41.7%
Redeemable equity
10.0
0.0
n/a
Debt
348
352
376
-1.1%
Operating lease liabilities
36.0
0.0
n/a
Finance lease liabilities
1.0
n/a
n/a
Other liabilities
449
462
468
-2.8%
Total liabilities and equity
1,835
2,514
2,448
-27.0%
Fixed assets
965
1,010
926
-4.5%
Goodwill
30.0
16.0
16.0
+87.5%
Intangible assets
61.0
51.0
55.0
+19.6%
Securities held for sale or to maturity
5.0
n/a
n/a
Cash and equivalents
181
878
928
-79.4%
Receivables
164
128
142
+28.5%
Inventory
265
273
259
-2.9%
Other assets
164
158
122
+4.0%
Total assets
1,835
2,514
2,448
-27.0%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.