Louisiana-pacific Corporation · NYSE:LPX
Louisiana-pacific — Q4 2024 Earnings Presentation
18 slides from Louisiana-pacific's earnings presentation, Feb 19, 2025
Slide 1: Q4 and FY 2024 Earnings Presentation
Q4 and FY 2024 Earnings Presentation February 19, 2025
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 current
Slide 3: Statement Relating to the Use of Non-GAAP Financial Measures
STATEMENT RELATING TO THE USE OF NON-GAAP FINANCIAL MEASURES During 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 GAAP. Please
Slide 4: Highlights
HIGHLIGHTS
Slide 5: Highlights: Q4 and FY 2024 Financial Results
2024 Q4 2024 FINANCIAL RESULTS HIGHLIGHTS Compared to Q4 2023 $681M $125M $105M $1.03 Net Sales Adjusted EBITDA1 Operating Adjusted EPS1 +3% (4)% Cash Flow +$0.32 Siding EBITDA Margin2 25% 9% $(18)M $42M $61M Capital Allocation • $212M of share repurchases3 • 70M shares outstanding OSB Price Impact
Slide 6: Financial Results
FINANCIAL RESULTS
Slide 7: Siding – Q4 2024 vs. Q4 2023
SIDING – Q4 2024 VS. Q4 2023 ($ in millions) $1 $5 $(10) $(1) $72 $19 $(12) $72 Overall 3% Sales & Labor $(2)M Mill Overhead 20%2 22%2 $(6)M Marketing Overall 6% OEE 77% $(10)M Freight $1M Inventory/Other Flat to PY $(6)M 2023 Siding Siding Investment Inflationary Other 2024 Adjusted EBITDA Price Vo
Slide 8: Siding – FY 2024 vs. FY 2023
SIDING – FY 2024 VS. FY 2023 ($ in millions) $121 $(23) $390 $12 $(11) $64 $79 $269 Raw Materials Overall 11% Sales & $16M Marketing SG&A $(9)M 20%2 Overall 6% OEE 77% $(23)M 25%2 Freight $4M Flat to PY Labor $(7)M 2023 Siding Siding Investment Inflationary Other 2024 Adjusted EBITDA1 Price Volume C
Slide 9: OSB – Q4 2024 vs. Q4 2023
OSB – Q4 2024 VS. Q4 2023 ($ in millions) $(9) $59 $50 $(18) $(0) $(1) $4 $6 22%2 19%2 21% Mill OH $2M Overall (8)% Commodity (3)ppts 44mmsf, 12% Flat to PY Raw Material Labor $(1)M Usage Structural Solutions OEE 78%, Mix 49%, $2M (4)ppts +1ppts (3)ppt to PY 2023 ASP Commodity Structual Solutions In
Slide 10: OSB – FY 2024 vs. FY 2023
OSB – FY 2024 VS. FY 2023 ($ in millions) $78 $9 $(20) $298 $28 $27 $220 $35 21% Mill OH $(7)M 21% 2 Overall 4% 25%2 145mmsf, Raw SG&A $(4)M Commodity 1ppts 168mmsf, 11% 9% Materials $14M Inventory/Other Structural Solutions OEE 78%, Mix 50%, +3ppts $(9)M 3ppts Flat to PY Labor $(5)M 2023 ASP Commod
Slide 11: Cash Flow
CASH FLOW ($ in millions) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Beginning cash $ 346 $ 160 $ 222 $ 383 Adjusted EBITDA1 125 129 688 478 Change in Working Capital (19) 14 31 (93) Interest (net) 5 7 9 3 Cash taxes (net) (44) (16) (124) (65) Other operating 38 25 1 (7)
Slide 12: 2025 Guidance and Sensitivities
2025 GUIDANCE AND SENSITIVITIES Siding Growth and Margin 1st Quarter Full Year Siding Revenue $390-400M (+9-11% growth) $1.65-1.7B (+7-9% growth) Siding Adjusted EBITDA1 $95-105M (~25% margin5) $415-425M (~25% margin5) OSB Cycle Average Annual Adjusted EBITDA1,2 : ($65 EBITDA / MSF) x (4 BSF Capacit
Slide 13: Siding Capacity Plan
SIDING CAPACITY PLAN 3,000 B 2,500 A Million SQFT 3/8 Basis A Houlton Line 2 2,000 B Next Line 1,500 SmartSide C Green Bay ExpertFinish D Bath 1,000 E Next Line D E 500 C 0 2025 2026 2027 2028 2029
Slide 14: Appendix
APPENDIX
Slide 15: Financial Performance
FINANCIAL PERFORMANCE ($ in millions, except per share amounts) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Sales $ 681 $ 658 $ 2,941 $ 2,581 Cost of sales (519) (499) (2,110) (1,988) Gross profit 162 159 832 593 SG&A (76) (66) (291) (257) Impairments (5) (5) (5) (30) Othe
Slide 16: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA ($ in millions) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net income $ 63 $ 59 $ 420 $ 178 Add (deduct): Provision for income taxes 23 7 140 74 Depreciation and amortization 33 32 126 119 Stock-based compensation e
Slide 17: 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) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net income per share - diluted $ 0.89 $ 0.81 $ 5.89 $ 2.46 Net income $ 63 $ 59 $ 420 $ 178 Add (deduct):
Slide 18: Net Sales and Adjusted EBITDA by Segment
NET SALES AND ADJUSTED EBITDA BY SEGMENT ($ in millions) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 NET SALES Siding $ 362 $ 332 $ 1,558 $ 1,328 OSB 267 272 1,184 1,026 LPSA 50 52 190 205 Other 2 1 9 22 Total Sales $ 681 $ 658 $ 2,941 $ 2,581 ADJUSTED EBITDA Siding $ 72 $