Louisiana-pacific Corporation · NYSE:LPX

Louisiana-pacific — Q2 2022 Earnings Presentation

19 slides from Louisiana-pacific's earnings presentation, Aug 9, 2022

  1. Slide 1: Q2 2022 Results

    Q2 2022 RESULTS August 9, 2022

  2. 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

  3. 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

  4. Slide 4: Highlights

    HIGHLIGHTS

  5. Slide 5: Q2 2022 Highlights

    Q2 2022 HIGHLIGHTS • Siding Solutions sales increased by 24% to $356M, another quarterly sales record. • Structural Solutions sales volume increased year-over-year by 28%. • Paid $471M to repurchase 7.3M shares. • Closed on the sale of the Engineered Wood Products (EWP) segment on August 1, 2022. •

  6. Slide 6: Siding Growth and Innovation

    SIDING GROWTH AND INNOVATION Siding Growth (TTM) Siding Innovation U.S. Single-Family Housing Starts 1 Siding Solutions Revenue ($M) 2021 Q2 Volume 2022 Q2 Volume +0% +17% 1,124 1,128 9% 12% Panel Lap, Trim, Soffit Q2 2021 Q2 2022 Q2 2021 Q2 2022 Innovative Siding Products 1 Actual U.S. housing star

  7. Slide 7: Q2 2022 Financial Results

    Other Key Points Q2 2022 FINANCIAL RESULTS Ending Cash Balances $516M $1.1B $491M $483M $4.19 Net Sales Adj. Op. CF Adj. EPS1 Structural Solutions (3)% EBITDA1 +$25M +$(0.44) Mix (26)% w/ EWP $4.571 53% (+7ppts) w/ EWP $535M1 Raw Material Price Inflation YoY $(47)M or (25)% 24% $(195)M $489M $103M (

  8. Slide 8: Siding – Q2 2022 vs. Q2 2021

    SIDING – Q2 2022 VS. Q2 2021 ($ in millions) $0 $14 $(7) $(30) $33 $77 $(10) $78 Overall 12% Overall 10% Houlton $(4)M Raw materials $(25)M 27% OEE 76% (PY 74%) Sagola $(1)M 22% Freight $(4)M Sales & Marketing $(2)M 2021 Siding Solutions Siding Solutions Investment Inflationary Other 2022 EBITDA1 Pr

  9. Slide 9: OSB – Q2 2022 vs. Q2 2021

    OSB – Q2 2022 VS. Q2 2021 ($ in millions) $(162) $565 $(195) $(22) $403 $70 $1 $(16) Overall (24)% Overall (4)% Overall 28% Raw materials $(22)M 73% Commodity (32)% Capacity related Capacity related 60% 16% 12% Structural Solutions (16)% OEE 71% (PY 77%) Mix 53% (+7pts to PY) 2021 ASP Commodity Stru

  10. Slide 10: Q2 2022 vs. Q2 2021 Summary

    Q2 2022 VS. Q2 2021 SUMMARY ($ in millions) Q2 2021 vs. Q2 2022 Revenue1 EBITDA1,2 $99M EBITDA benefit of Q2 2021 Actual $ 1,168 $ 666 strategic transformation OSB price, excluding freight (195) (195) (Siding Growth & Structural LPSA price 8 8 Solutions displacing Siding Solutions growth (incl. sale

  11. 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” and “Reconciliation of Income from discontinued operations to Non-GAAP Adjusted EBITDA from discontinued

  12. 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 Q3 2022 REVENUE & ADJUSTED EBITDA(1) Siding Solutions Q3 YoY Revenue Growth ~20% OSB Revenue Compared to Q2 2022(1) ~40

  13. Slide 13: Appendix

    APPENDIX

  14. Slide 14: Financial Performance

    FINANCIAL PERFORMANCE ($ in millions, except per share amounts) PAGE 14

  15. Slide 15: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA

    RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA ($ in millions) PAGE 15

  16. 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, except per share amounts) PAGE 16

  17. Slide 17: Revenue and Adjusted EBITDA by Segment

    REVENUE AND ADJUSTED EBITDA BY SEGMENT ($ in millions) PAGE 17

  18. Slide 18: Reconciliation of Income from Discontinued Operations to Non-GAAP Adjusted EBITDA

    RECONCILIATION OF INCOME FROM DISCONTINUED OPERATIONS TO NON-GAAP ADJUSTED EBITDA FROM DISCONTINUED OPERATIONS ($ in millions) PAGE 18

  19. Slide 19: Reconciliation of Discontinued Operations Income to Non-GAAP Adjusted Income and EPS

    RECONCILIATION OF INCOME FROM DISCONTINUED OPERATIONS TO NON- GAAP ADJUSTED INCOME FROM DISCONTINUED OPERATIONS AND NON- GAAP ADJUSTED DILUTED EPS FROM DISCONTINUED OPERATIONS ($ in millions, except per share amounts) PAGE 19

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