Louisiana-pacific Corporation · NYSE:LPX
Louisiana-pacific — Q3 2024 Earnings Presentation
15 slides from Louisiana-pacific's earnings presentation, Nov 5, 2024
Slide 1: Q3 2024 Earnings Presentation
Q3 2024 Earnings Presentation November 5, 2024
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 2024 Financial Results
OTHER HIGHLIGHTS Q3 2024 FINANCIAL RESULTS $722M $153M $184M $1.22 New Siding Records • SmartSide® and ExpertFinish® net sales • EBITDA of $123M Net Sales Adjusted Operating Adjusted Siding EBITDA Margin2 29% (1)% EBITDA1 Cash Flow EPS1 (20)% $(3)M $(0.40) Capital Allocation • $73M of share repurcha
Slide 6: Financial Results
FINANCIAL RESULTS
Slide 7: Siding – Q3 2024 vs. Q3 2023
SIDING – Q3 2024 VS. Q3 2023 ($ in millions) $51 $123 $(6) $13 $(1) $24 $22 $71 Overall 15% Sales & Freight $(1)M PY press re- Marketing build $5M Overall 6% OEE 77% $(6)M 21%2 Flat to PY Other $8M 29%2 2023 Siding Siding Investment Inflationary Other 2024 Adjusted EBITDA1 Price Volume Costs Costs C
Slide 8: OSB – Q3 2024 vs. Q3 2023
OSB – Q3 2024 VS. Q3 2023 ($ in millions) $(87) $120 Overall 30 Overall (11) Raw Material SG&A $(2)M MMSF, 8% MMSF, (3)% Pricing $3M OEE 78%, Mix 48%, Labor $(1)M $(88) +4ppts (2)ppts Overall (29)% 21% Commodity $33 (17)ppts $3 $(2) $1 $(2) Structural Solutions 36%2 13%2 (11)ppts 2023 ASP Commodity
Slide 9: Cash Flow
CASH FLOW ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Beginning cash $ 317 $ 71 $ 222 $ 383 Adjusted EBITDA1 153 190 564 349 Change in working capital 44 — 17 (134) Interest (net) (1) (3) 3 (4) Cash taxes (net) (11) (4) (80) (49) Other operati
Slide 10: 2024 Guidance and Sensitivities
2024 GUIDANCE AND SENSITIVITIES Siding Growth and Margin 4th Quarter Full Year Siding Revenue ~$365M (+9-10% growth) ~$1.55B (~17% growth) Siding Adjusted EBITDA1 $70-80M (~21% margin3) $390-400M (~25% margin3) OSB Guidance OSB Adjusted EBITDA1,2 $15-25M $265-275M Total LP Adjusted EBITDA1,2 $85-105
Slide 11: Appendix
APPENDIX
Slide 12: Financial Performance
FINANCIAL PERFORMANCE ($ in millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 722 $ 728 $ 2,261 $ 1,923 Cost of sales (530) (514) (1,591) (1,489) Gross profit 193 214 669 434 Selling, general, and administrative expen
Slide 13: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income $ 90 $ 118 $ 358 $ 119 Add (deduct): Net income attributed to non-controlling interest — — — — Income attributed to LP 90 118 358 1
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) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income per share - diluted $ 1.28 $ 1.63 $ 5.00 $ 1.65 Net income $ 90 $ 118 $ 358 $ 11
Slide 15: Net Sales and Adjusted EBITDA by Segment
NET SALES AND ADJUSTED EBITDA BY SEGMENT ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Sales Siding $ 420 $ 345 $ 1,196 $ 996 OSB 253 335 917 754 South America 47 45 140 153 Other 2 4 7 21 $ 722 $ 728 $ 2,261 $ 1,923 Segment Adjusted EBITDA Sidi