Louisiana-pacific Corporation · NYSE:LPX
Louisiana-pacific — Q3 2023 Earnings Presentation
16 slides from Louisiana-pacific's earnings presentation, Nov 1, 2023
Slide 1: Third Quarter 2023 Results
THIRD QUARTER 2023 RESULTS November 1, 2023
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
HIGHLIGHTS
Slide 5: Q3 2023 Financial Results
Other Key Points Q3 2023 FINANCIAL RESULTS Ending Cash Balance $160M $728M $190M $187M $1.62 Credit Facility Net Sales Adj. EBITDA1 Op. Cash Adj. EPS1 Repaid in Q3 (15)% (5)% Flow $(0.10) Available $550M $(8)M Commissioned Bath, NY Prefinishing Facility Raw Material (13)% $28M $17M $49M Deflation Yo
Slide 6: Siding Growth and Innovation
SIDING GROWTH AND INNOVATION Growth (TTM) Percent of Total Volume U.S. Single Siding Volume Siding Price Q3-22 Q3-23 Family Housing Starts1 (6)% +8% (16)% 8% 8% Q3-22 Q3-23 Q3-22 Q3-23 Q3-22 Q3-23 ExpertFinish 1 Actual U.S. housing starts data from U.S. Census Bureau as Primed SmartSide reported on
Slide 7: Siding – Q3 2023 vs Q3 2022
SIDING – Q3 2023 VS Q3 2022 ($ in millions) $(19) $90 $10 $(27) $9 $(10) $71 $0 Overall Overall (16)% Mill conversions Freight $7M Dawson press 3% $(3)M Raw materials $4M rebuild $(5)M OEE 77% +1ppt Sales and Labor $(2)M Mill overhead 2 marketing $3M $(3)M 2 23% 21% 2022 Siding Siding Investment Inf
Slide 8: OSB – Q3 2023 vs Q3 2022
OSB – Q3 2023 VS Q3 2022 ($ in millions) $7 $28 $(35) $120 $113 $20 $(11) $4 Overall Overall (26)% Overall (10)% Raw materials $6M Production costs 8% Production: Production: Labor $(2)M $11M Commodity 22% Sagola (14)% Sagola (7)% Sagola fixed Structural Curtailment (17)% Curtailment (21)% overhead
Slide 9: Cash Flow and Liquidity
CASH FLOW Liquidity ($ in millions) Ending Cash $160M Credit Facility $550M undrawn Total Liquidity ~$710M Long-Term Debt $350M @ 3.625%, 2029 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 Adju
Slide 10: Guidance
GUIDANCE REVENUE & ADJUSTED EBITDA1,2 Siding FY 2023 YoY Net Sales Decrease ~10% OSB Q4 2023 Net Sales Compared to Q3 20231 ~30% Decrease LP Q4 2023 Consolidated Adjusted EBITDA1,2 $60M-$80M CAPEX GUIDANCE Full-Year CAPEX, excluding Wawa acquisition $280M-$295M 4Siding Mill Conversions $100M-$105M 4
Slide 11: Appendix
APPENDIX
Slide 12: Financial Performance
FINANCIAL PERFORMANCE ($ in millions, except per share amounts) PAGE 12
Slide 13: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA ($ in millions) PAGE 13
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) PAGE 14
Slide 15: Revenue and Adjusted EBITDA by Segment
REVENUE AND ADJUSTED EBITDA BY SEGMENT ($ in millions) PAGE 15
Slide 16: 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 16