Louisiana-pacific Corporation · NYSE:LPX
Louisiana-pacific — Q1 2024 Earnings Presentation
15 slides from Louisiana-pacific's earnings presentation, May 8, 2024
Slide 1: Q1 2024 Earnings Presentation
Q1 2024 Earnings Presentation May 8, 2024
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains statements concerning Louisiana-Pacific Corporation's (LP) future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon the beliefs
Slide 3: Statement Relating to the Use of Non-GAAP Financial Measures
STATEMENT RELATING TO THE USE OF NON-GAAP FINANCIAL MEASURES During the course of this presentation, certain non-GAAP financial measures will be presented. Non-GAAP financial measures should be considered only as a supplement to, and not as superior to, financial measures prepared in accordance with
Slide 4: Highlights
asd la HIGHLIGHTS
Slide 5: Q1 2024 Financial Results
OTHER KEY Q1 2024 Financial Results POINTS $724M $182M $105M $1.53 Growth • Siding revenue growth 9% • Structural Solutions mix 52% (+6ppts) Net Sales Adj. EBITDA1 Op. CF Adj. EPS1 Margin • Siding EBITDA margin2 25% +24% $116M $223M $1.19 Capital Allocation • As of May 8, 2024: $50 million spent YTD
Slide 6: Siding Growth and Innovation
SIDING GROWTH AND INNOVATION PAGE 6
Slide 7: Siding – Q1 2024 vs. Q1 2023
SIDING – Q1 2024 VS. Q1 2023 ($ in millions) $23 $10 $(8) $90 $4 $2 $67 $15 Overall 5% Overall 4% Mill Raw materials Mill overhead conversions $8M $(7)M OEE 78% $4M 20%2 +2ppts to PY 25%2 Freight $3M Sales & Marketing Labor $(2)M $(2)M 2023 Siding Siding Investment Inflationary Other 2024 Adjusted E
Slide 8: OSB – Q1 2024 vs. Q1 2023
OSB – Q1 2024 VS. Q1 2023 ($ in millions) $86 Overall 38% $6 $(12) $90 Commodity 51% $24 Structural Solutions 25% $6 Overall Overall Raw Mill costs 33mmsf, 9% 116mmsf, materials $(7)M 21% 57% 36% $7M 29%2 OEE 78% $62 (+1ppts vs. PY) Mix Labor $(1)M 52%, +6ppts $5 2023 ASP Commodity Structual Solutio
Slide 9: Cash Flow
CASH FLOW ($ in millions) Three Months Ended March 31, 2024 2023 Beginning cash $ 222 $ 383 Adjusted EBITDA1 182 66 Change in working capital (66) (144) Interest (net) (1) (6) Cash taxes (net) (10) (33) Other operating — (1) Operating cash flow 105 (119) Capital expenditures (41) (114) Purchase of s
Slide 10: 2024 Guidance and Sensitivities
2024 GUIDANCE AND SENSITIVITIES Siding Growth and Margin Full Year 2nd Quarter Siding Revenue ~ $1.5B (+11-13% growth) $380-400M (+20-25% growth) Siding Adjusted EBITDA1 $340-360M (~23% margin5) $95-105M (~25% margin5) OSB Cycle Average Annual Adjusted EBITDA1,2 : ($60 EBITDA / MSF) x (4 BSF Capacit
Slide 11: Appendix
APPENDIX
Slide 12: Financial Performance
FINANCIAL PERFORMANCE ($ in millions, except per share amounts) Three Months Ended March 31, 2024 2023 Net sales $ 724 $ 584 Cost of sales (511) (483) Gross profit 214 101 Selling, general, and administrative expenses (69) (66) Other charges and credits 1 (5) Income from operations 145 30 Non-operat
Slide 13: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA ($ in millions) Three Months Ended March 31, 2024 2023 Net income $ 108 $ 22 Add (deduct): Net income attributed to non-controlling interest — (1) Income attributed to LP 108 21 Provision for income taxes 41 1 Depreciation and amortization 31
Slide 14: Reconciliation of Net Income to Non-GAAP Adjusted Income and Adjusted Diluted EPS
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED INCOME AND ADJUSTED DILUTED EPS ($ in millions, except per share amounts) Three Months Ended March 31, 2024 2023 Net income per share - diluted $ 1.48 $ 0.29 Net income $ 108 $ 22 Add (deduct): Net income attributed to non-controlling interest — (1)
Slide 15: Net Sales and Adjusted EBITDA by Segment
NET SALES AND ADJUSTED EBITDA BY SEGMENT ($ in millions) Three Months Ended March 31, 2024 2023 Sales Siding $ 361 $ 331 OSB 313 189 South America 47 55 Other 3 8 $ 724 $ 584 Segment Adjusted EBITDA Siding $ 90 $ 67 OSB 90 5 South America 10 12 Other (1) (9) Unallocated (7) (9) $ 182 $ 66 PAGE 15