LP CEO: No 'sissies' left in the business
Louisiana-Pacific CEO Rick Frost has a theory as to why the LBM industry isn't seeing more consolidation.
"It's over-simplistic and you've heard me say it and everybody laughs at me when I do, but there aren't any sissies left in this business," he said during the company's fourth-quarter earnings call. "Nobody wants to give up their shop and let somebody else own them. It's my opinion."
Frost was responding to a question from analyst Mark Wilde, of Deutsche Bank, who asked why the industry hasn't seen more consolidation given the "extent and duration of this downturn in the housing market."
LP CFO Curt Stevens added that the channel has seen 7,000 yards close.
The company posted sales and earnings gains for the year and the quarter ended Dec. 31, 2010.