Louisiana-pacific Corporation · NYSE:LPX
Louisiana-pacific — Q1 2026 Earnings Presentation
17 slides from Louisiana-pacific's earnings presentation, May 6, 2026
Slide 1: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation May 6, 2026
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 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 2026 Financial Results
2026 Highlights Q1 2026 FINANCIAL RESULTS Compared to Q1 2025 Safety • 0.26 TIR in North America $574M $82M (10)% $0.38 • Sagola, MI 2 years recordable-free Net Sales Adj. EBITDA1 Siding Sales Adj. EPS1 Siding Growth & Margin $(149)M $(80)M Growth $(0.95) • 9% increase in ASP • 28% EBITDA margin2 $(
Slide 6: Siding End-Markets: Q1 Update & Priorities
SIDING END-MARKETS: Q1 UPDATE & PRIORITIES Offsite Construction • Q1 shed volumes impacted by Q4-25 pre-buy inventory ahead of price increase • Sell-through rates have been stable • Inventory within seasonally normal ranges • Significant opportunity to grow market share in manufactured housing Repai
Slide 7: Financial Results
FINANCIAL RESULTS
Slide 8: Siding – Q1 2026 vs. Q1 2025
SIDING – Q1 2026 VS. Q1 2025 ($ in millions) $(5) $27 $(35) $106 $101 $2 $(5) $6 Overall 9% Overall (18)% Marketing $2M Freight $(2)M Inventory / Primed 8% Other $8M Primed (20)% Labor $(2)M ExpertFinish 10% ExpertFinish Flat SG&A $1M Intersegment Transfers $(3)M 25% 27% 26%2 28%2 2025 ASP Volume Sa
Slide 9: OSB – Q1 2026 vs. Q1 2025
OSB – Q1 2026 VS. Q1 2025 ($ in millions) $(66) $54 Overall Overall Raw Materials $3M Mill Overhead (52) MMSF, (71) MMSF, $4M Labor $(1)M $(66) (12)% (18)% Intersegment 20%2 Transfer $3M Mix 47%, (1)ppt SG&A $1M Overall (28)% Commodity (33)% 25% 27% Structural 27% (7)%2 Solutions (23)% $(3) $8 $(12)
Slide 10: Cash Flow
CASH FLOW ($ in millions) Three Months Ended March 31, 2026 2025 Beginning cash $ 292 $ 340 Adjusted EBITDA1 82 162 Change in Working Capital (96) (74) Interest (net) (4) (3) Cash taxes (net) (11) (15) Other operating (9) (6) Operating cash flow (38) 64 Capital expenditures (61) (64) Repurchase of c
Slide 11: Crude Oil Cost Sensitivities
Crude Oil Cost Sensitivities Freight Cost Impact of $10 per Barrel of Crude Oil Price • About $0.03 per mile in variable blended freight costs • About 30M miles of total freight usage in 2025 • About $1M annual cost impact to LP • OSB freight is a pass-through, Siding prices are delivered Raw Materi
Slide 12: 2026 Guidance & Sensitivities
2026 GUIDANCE & SENSITIVITIES Siding Growth and Margin Second Quarter Full Year Siding Revenue $435M - $445M (~4% decline) $1.65B - $1.67B (~2% decline) Siding Adjusted EBITDA1 $115M - $120M (~26% margin1,2) $410M - $425M (25-26% margin1,2) OSB Guidance OSB Adjusted EBITDA1,3 $(10)M $(40)M Total LP
Slide 13: Appendix
APPENDIX
Slide 14: Financial Performance
FINANCIAL PERFORMANCE ($ in millions, except per share amounts) Three Months Ended March 31, 2026 2025 Sales $ 574 $ 724 Cost of sales (459) (526) Gross profit 115 197 Selling, general, and administrative expenses (78) (75) Other operating credits and charges, net (2) (2) Income from operations 34 1
Slide 15: 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, 2026 2025 Net income $ 27 $ 91 Add (deduct): Provision for income taxes 9 26 Depreciation and amortization 38 35 Stock-based compensation expense 7 5 Other operating credits and charges, net 2 2 Pro
Slide 16: Reconciliation of Net Income to Non-GAAP Adjusted Income & Adjusted Diluted EPS
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED INCOME & ADJUSTED DILUTED EPS ($ in millions, except per share amounts) Three Months Ended March 31, 2026 2025 Net income per share — diluted $ 0.39 $ 1.30 Net income $ 27 $ 91 Add (deduct): Other operating credits and charges, net 2 2 Product-line d
Slide 17: Revenue and Adjusted EBITDA
REVENUE AND ADJUSTED EBITDA ($ in millions) Three Months Ended March 31, 2026 2025 NET SALES Siding $ 360 $ 402 OSB 168 267 Other 46 54 Total Sales $ 574 $ 724 ADJUSTED EBITDA Siding $ 101 $ 106 OSB (12) 54 Other (7) 2 Total Adjusted EBITDA $ 82 $ 162 PAGE 17