Louisiana-pacific Corporation · NYSE:LPX
Louisiana-pacific — Q1 2022 Earnings Presentation
17 slides from Louisiana-pacific's earnings presentation, May 3, 2022
Slide 1: Q1 2022 Results
BUILDING Lee Q1 2022 RESULTS
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. Factors that could cause actual results to d
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
HIGHLIGHTS
Slide 5: Q1 2022 Highlights
Q1 2022 HIGHLIGHTS • LP Houlton successfully and safely began production of LP® SmartSide® • Siding Solutions sales increased by 17% • Record quarterly Structural Solutions sales volume of >500 million square feet • Record quarterly Net Sales and Adjusted Diluted EPS(1) • Price increases more than o
Slide 6: Q1 2022 Financial Results
Other Key Points Q1 2022 FINANCIAL RESULTS Q1 Ending Cash Balance $637M $1.3B $636M $425M $5.08 Net Sales Adj. Op. CF Adj. EPS1 Q1 Structural +31% EBITDA1 +$111M +$2.07 Solutions Mix 55% +$174M (+8pts) Q1 Raw Material Price Inflation $(44)M 17% $130M $123M $92M As of May 3, 2022: Siding Solutions OS
Slide 7: Siding Growth and Innovation
SIDING GROWTH AND INNOVATION Siding Growth (TTM) Siding Innovation U.S. Single Family Siding Solutions Housing Starts 1 Revenue ($M) 2021 Q1 Volume 2022 Q1 Volume +10% +20% 1,137 1,032 8% 11% Panel Lap, Trim, Soffit Q1 2021 Q1 2022 Q1 2021 Q1 2022 Innovative Siding Products 1 Actual U.S. housing sta
Slide 8: Siding – Q1 2022 vs. Q1 2021
SIDING – Q1 2022 VS. Q1 2021 ($ in millions) $(7) $7 $(12) $30 $(26) $90 $(6) $83 Overall 12% Overall 4% Houlton $(9)M Raw materials 32% $(23)M 25% Sales & OEE 76% Marketing Freight $(3M) (vs. 74% in PY) $(3)M Q1 2021 Siding Solutions Siding Solutions Investment Inflationary Other Q1 2022 EBITDA(1)
Slide 9: OSB – Q1 2022 vs. Q1 2021
OSB – Q1 2022 VS. Q1 2021 ($ in millions) $151 $(21) $505 $50 $1 $(8) $130 $354 Commodity Overall (4)% Overall 31% Raw materials 23% $(20)M Capacity related Capacity related 66% Structural 16% 11% 68% Solutions 22% OEE 73% Mix 55% (flat to PY) (+8pts to PY) Q1 2021 ASP Commodity Structional Inflatio
Slide 10: Q1 2022 vs. Q1 2021 Summary
Q1 2022 VS. Q1 2021 SUMMARY ($ in millions) Q1 2021 vs. Q1 2022 Revenue Adjusted EBITDA1 Q1 2021 Actual $ 1,017 $ 461 OSB price 130 130 LPSA price 20 20 Siding Solutions growth (incl. sales and marketing) 47 34 Structural Solutions growth $113 78 $76 50 OSB commodity volume (12) (8) Raw
Slide 11: Cash Flow
CASH FLOW ($ in millions) 1 This is a non-GAAP financial measure. See “Statement Relating to the Use of Non-GAAP Financial Measures” and “Reconciliation of Net Income to Non-GAAP Adjusted EBITDA.” PAGE 11
Slide 12: 2022 Capex Guidance
2022 CAPEX GUIDANCE Full-Year Capital Investment $400M-$430M Siding Mill Conversions $200M-$210M Other Strategic Growth Capital $80M-$90M Sustaining Maintenance Capital $120M-$130M Q2 2022 REVENUE & ADJUSTED EBITDA(1) Siding Solutions Q2 YoY Revenue Growth > $20% OSB Revenue Compared to Q1 2022(1) ~
Slide 13: Appendix
APPENDIX
Slide 14: Financial Performance
FINANCIAL PERFORMANCE ($ in millions) PAGE 14
Slide 15: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA ($ in millions) PAGE 15
Slide 16: 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) PAGE 16
Slide 17: Revenue and Adjusted EBITDA by Segment
REVENUE AND ADJUSTED EBITDA BY SEGMENT ($ in millions) PAGE 17