Louisiana-Pacific (LPX) 8-K LP Reports Third Quarter 2010 Results

Exhibit 99.2

(Dollar amounts in millions)	OSB			Siding		EWP			Other		Corporate			Total
Quarter Ended September 30, 2010
Sales	$	139.5		$	104.5	$	37.9		$	41.3	$	(0.7	)	$	322.5
Depreciation and amortization		9.4			3.6		2.3			2.8		0.6			18.7
Cost of sales and selling and administative		132.7			91.6		40.2			36.8		15.2			316.5
Gain on sale or impairment of long lived assets		—			—		—			—		0.9			0.9
Other operating credits and charges, net		—			—		—			—		2.3			2.3
Total operating costs		142.1			95.2		42.5			39.6		19.0			338.4
(Loss) income from operations		(2.6	)		9.3		(4.6	)		1.7		(19.7	)		(15.9	)
Total non-operating expense												(27.7	)		(27.7	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		(2.6	)		9.3		(4.6	)		1.7		(47.4	)		(43.6	)
Benefit for income taxes		—			—		—			—		(16.4	)		(16.4	)
Equity in loss of unconsolidated affiliates		2.4			—		0.3			1.0		—			3.7
Income (loss) from continuing operations	$	(5.0	)	$	9.3	$	(4.9	)	$	0.7	$	(31.0	)	$	(30.9	)
Reconciliation of loss from continuing operations to EBITDA from continuing operations
Income (loss) from continuing operations	$	(5.0	)	$	9.3	$	(4.9	)	$	0.7	$	(31.0	)	$	(30.9	)
Benefit for income taxes		—			—		—			—		(16.4	)		(16.4	)
Interest expense, net of capitalized interest		—			—		—			—		15.3			15.3
Depreciation and amortization		9.4			3.6		2.3			2.8		0.6			18.7
EBITDA from continuing operations	$	4.4		$	12.9	$	(2.6	)	$	3.5	$	(31.5	)	$	(13.3	)
Stock based compensation expense		0.2			0.2		0.1			—		1.2			1.7
(Gain) loss on sale or impairment of long lived assets		—			—		—			—		0.9			0.9
Other than temporary asset impairment		—			—		—			—		16.9			16.9
Investment income		—			—		—			—		(4.9	)		(4.9	)
Other operating credits and charges, net		—			—		—			—		2.3			2.3
Adjusted EBITDA from continuing operations	$	4.6		$	13.1	$	(2.5	)	$	3.5	$	(15.1	)	$	3.6
Quarter Ended September 30, 2009
Sales	$	122.6		$	113.0	$	47.7		$	27.2	$	—		$	310.5
Depreciation and amortization		10.3			5.1		3.2			2.9		0.7			22.2
Cost of sales and selling and administative		116.4			91.8		50.7			23.2		17.1			299.2
Gain on sale or impairment of long lived assets		—			—		—			—		(1.2	)		(1.2	)
Other operating credits and charges, net		—			—		—			—		(1.6	)		(1.6	)
Total operating costs		126.7			96.9		53.9			26.1		15.0			318.6
(Loss) income from operations		(4.1	)		16.1		(6.2	)		1.1		(15.0	)		(8.1	)
Total non-operating expense												(12.3	)		(12.3	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		(4.1	)		16.1		(6.2	)		1.1		(27.3	)		(20.4	)
Benefit for income taxes		—			—		—			—		(10.5	)		(10.5	)
Equity in loss of unconsolidated affiliates		1.7			—		—			0.9		—			2.6
Income (loss) from continuing operations	$	(5.8	)	$	16.1	$	(6.2	)	$	0.2	$	(16.8	)	$	(12.5	)
Reconciliation of loss from continuing operations to EBITDA from continuing operations
Income (loss) from continuing operations	$	(5.8	)	$	16.1	$	(6.2	)	$	0.2	$	(16.8	)	$	(12.5	)
Benefit for income taxes		—			—		—			—		(10.5	)		(10.5	)
Interest expense, net of capitalized interest		—			—		—			—		21.0			21.0
Depreciation and amortization		10.3			5.1		3.2			2.9		0.7			22.2
EBITDA from continuing operations	$	4.5		$	21.2	$	(3.0	)	$	3.1	$	(5.6	)	$	20.2
Stock based compensation expense		0.1			0.1		0.1			—		1.2			1.5
(Gain) loss on sale or impairment of long lived assets		—			—		—			—		(1.2	)		(1.2	)
Investment income		—			—		—			—		(8.0	)		(8.0	)
Other than temporary asset impairment		—			—		—			—		0.1			0.1
Early debt extinguishment		—			—		—			—		0.2			0.2
Other operating credits and charges, net		—			—		—			—		(1.6	)		(1.6	)
Adjusted EBITDA from continuing operations	$	4.6		$	21.3	$	(2.9	)	$	3.1	$	(14.9	)	$	11.2

(Dollar amounts in millions)	OSB			Siding		EWP			Other		Corporate			Total
Nine months Ended September 30, 2010
Sales	$	473.3		$	324.5	$	142.4		$	130.2	$	(4.2	)	$	1,066.2
Depreciation and amortization		28.0			14.1		9.4			8.4		1.6			61.5
Cost of sales and selling and administative		407.7			270.8		148.2			113.7		49.1			989.5
Gain on sale or impairment of long lived assets		—			—		—			—		2.1			2.1
Other operating credits and charges, net		—			—		—			—		2.8			2.8
Total operating costs		435.7			284.9		157.6			122.1		55.6			1,055.9
Income (loss) from operations		37.6			39.6		(15.2	)		8.1		(59.8	)		10.3
Total non-operating expense												(50.6	)		(50.6	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		37.6			39.6		(15.2	)		8.1		(110.4	)		(40.3	)
Benefit for income taxes		—			—		—			—		(14.0	)		(14.0	)
Equity in (income) loss of unconsolidated affiliates		(0.8	)		—		0.6			3.7		—			3.5
Income (loss) from continuing operations	$	38.4		$	39.6	$	(15.8	)	$	4.4	$	(96.4	)	$	(29.8	)
Reconciliation of loss from continuing operations to EBITDA from continuing operations
Income (loss) from continuing operations	$	38.4		$	39.6	$	(15.8	)	$	4.4	$	(96.4	)	$	(29.8	)
Benefit for income taxes		—			—		—			—		(14.0	)		(14.0	)
Interest expense, net of capitalized interest		—			—		—			—		49.8			49.8
Depreciation and amortization		28.0			14.1		9.4			8.4		1.6			61.5
EBITDA from continuing operations	$	66.4		$	53.7	$	(6.4	)	$	12.8	$	(59.0	)	$	67.5
Stock based compensation expense		0.7			0.5		0.4			—		5.4			7.0
(Gain) loss on sale or impairment of long lived assets		—			—		—			—		2.1			2.1
Investment income		—			—		—			—		(15.1	)		(15.1	)
Other then temporary asset impairment		—			—		—			—		16.9			16.9
Other operating credits and charges, net		—			—		—			—		2.8			2.8
Adjusted EBITDA from continuing operations	$	67.1		$	54.2	$	(6.0	)	$	12.8	$	(46.9	)	$	81.2
Nine months Ended September 30, 2009
Sales	$	292.5		$	291.5	$	113.5		$	85.9	$	—		$	783.4
Depreciation and amortization		26.3			14.1		9.1			8.0		2.7			60.2
Cost of sales and selling and administative		308.3			252.6		128.1			73.7		52.7			815.4
Gain on sale or impairment of long lived assets		—			—		—			—		(2.1	)		(2.1	)
Other operating credits and charges, net		—			—		—			—		(7.3	)		(7.3	)
Total operating costs		334.6			266.7		137.2			81.7		46.0			866.2
Income (loss) from operations		(42.1	)		24.8		(23.7	)		4.2		(46.0	)		(82.8	)
Total non-operating expense												(24.5	)		(24.5	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		(42.1	)		24.8		(23.7	)		4.2		(70.5	)		(107.3	)
Benefit for income taxes		—			—		—			—		(45.8	)		(45.8	)
Equity in (income) loss of unconsolidated affiliates		6.3			—		0.3			1.9		—			8.5
Income (loss) from continuing operations	$	(48.4	)	$	24.8	$	(24.0	)	$	2.3	$	(24.7	)	$	(70.0	)
Reconciliation of loss from continuing operations to EBITDA from continuing operations
Income (loss) from continuing operations	$	(48.4	)	$	24.8	$	(24.0	)	$	2.3	$	(24.7	)	$	(70.0	)
Benefit for income taxes		—			—		—			—		(45.8	)		(45.8	)
Interest expense, net of capitalized interest		—			—		—			—		55.8			55.8
Depreciation and amortization		26.3			14.1		9.1			8.0		2.7			60.2
EBITDA from continuing operations	$	(22.1	)	$	38.9	$	(14.9	)	$	10.3	$	(12.0	)	$	0.2
Stock based compensation expense		0.5			0.4		0.4			—		4.2			5.5
(Gain) loss on sale or impairment of long lived assets		—			—		—			—		(2.1	)		(2.1	)
Investment income		—			—		—			—		(22.4	)		(22.4	)
Other than temporary asset impairment		—			—		—			—		1.8			1.8
Early debt extinguishment		—			—		—			—		(0.4	)		(0.4	)
Other operating credits and charges, net		—			—		—			—		(7.3	)		(7.3	)
Adjusted EBITDA from continuing operations	$	(21.6	)	$	39.3	$	(14.5	)	$	10.3	$	(38.2	)	$	(24.7	)