Louisiana-Pacific Corporation (NYSE:LPX) Q3 2022 Earnings Conference Call November 1, 2022 11:00 AM ET Company Participants Aaron Howald – Vice President-Investor Relations and Business Development Brad Southern – Chair and Chief Executive Officer Alan Haughie – Executive Vice President and Chief Financial Officer Conference Call Participants Susan Maklari – Goldman Sachs George Staphos – Bank of America Securities Kurt Yinger – D.A. Davidson Mark Weintraub – Seaport Global Securities Michael Roxland – Trui ...

@ BUILDING SOLUTIONS Q3 2022 RESULTS November 1, 2022 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 differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following, which may be amplified by t ...

Louisiana-Pacific Corporation (NYSE:LPX) Q2 2022 Earnings Conference Call August 9, 2022 11:00 AM ET Company Participants Aaron Howald - Vice President, Investor Relations & Business Development Brad Southern - Chief Executive Officer Alan Haughie - Chief Financial Officer Conference Call Participants Ketan Mamtora - BMO Susan Maklari - Goldman Sachs Sean Steuart - TD Securities Mark Weintraub - Seaport Michael Roxland - Truist Kurt Yinger - D.A. Davidson Paul Quinn - RBC Capital Mark Weintraub - Seaport G ...

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Louisiana-Pacific Corporation's unaudited condensed consolidated financial statements for Q2 2022 and 2021, including income, comprehensive income, balance sheets, cash flows, and stockholders' equity, with detailed notes [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For Q2 2022, net sales were $1.13 billion, down from $1.17 billion in Q2 2021, with net income attributed to LP at $384 million, while six-month net sales increased to $2.30 billion from $2.06 billion, and net income rose to $868 million | | Three Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | :--- | :--- | | **(In millions)** | **2022** | **2021** | **2022** | **2021** | | Net sales | $1,130 | $1,168 | $2,297 | $2,062 | | Gross profit | $518 | $684 | $1,139 | $1,152 | | Income from operations | $462 | $634 | $1,019 | $1,058 | | Net income attributed to LP | $384 | $498 | $868 | $818 | | Net income per share - diluted | $4.73 | $4.90 | $10.36 | $7.85 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, total assets increased to $2.55 billion from $2.19 billion at year-end 2021, driven by higher cash and current assets held for sale, with total liabilities rising to $1.06 billion and stockholders' equity to $1.48 billion | | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **(In millions)** | | | | **Total current assets** | $1,208 | $890 | | **Total assets** | $2,547 | $2,194 | | **Total current liabilities** | $464 | $351 | | **Total liabilities** | $1,059 | $955 | | **Total stockholders' equity** | $1,484 | $1,235 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2022, net cash provided by operating activities increased to $908 million, while net cash used in investing activities rose to $135 million, and financing activities used $626 million, primarily for stock repurchases | | Six Months Ended June 30, | | :--- | :--- | :--- | | **(In millions)** | **2022** | **2021** | | Net cash provided by operating activities | $908 | $772 | | Net cash used in investing activities | $(135) | $(63) | | Net cash used in financing activities | $(626) | $(642) | | Net increase in cash | $145 | $68 | [Notes to the Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) These notes provide crucial context, detailing revenue recognition, the significant divestiture of the Engineered Wood Products (EWP) segment, segment performance, and other key accounting policies and events - In June 2022, LP entered into an agreement to sell its Engineered Wood Products (EWP) segment for **$210 million** in cash, completed on August 1, 2022, with its assets, liabilities, and operating results now classified as held for sale and discontinued operations respectively[32](index=32&type=chunk)[33](index=33&type=chunk) | Revenue by Segment (In millions) | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Siding | $358 | $689 | | OSB | $673 | $1,417 | | South America | $70 | $137 | | **Total Sales** | **$1,130** | **$2,297** | - In March 2022, the company sold its **50% equity interest** in two EWP joint ventures for **$59 million**, recognizing a pre-tax gain of **$39 million** included in income from discontinued operations[51](index=51&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, focusing on the EWP divestiture and core segments, detailing segment-level results, liquidity, capital expenditures for siding conversions, and substantial share repurchase activity - The company completed the sale of its Engineered Wood Products (EWP) segment assets on August 1, 2022, for **$210 million**, with EWP results now presented as discontinued operations[79](index=79&type=chunk)[80](index=80&type=chunk) | Adjusted EBITDA Reconciliation (In millions) | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Net income | $385 | $868 | | Adjustments | $106 | $221 | | **Adjusted EBITDA** | **$491** | **$1,089** | [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Overall net sales for Q2 2022 decreased 3% to $1.13 billion, with Siding segment sales growing 23% to $358 million, while OSB sales fell 14% to $673 million due to lower average selling prices, leading to a decline in total Adjusted EBITDA Siding Segment Performance (Q2 2022 vs Q2 2021) | Metric | Q2 2022 | Q2 2021 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $358M | $291M | +23% | | Adjusted EBITDA | $78M | $77M | 0% | | Avg. Selling Price | - | - | +12% | | Unit Shipments | - | - | +10% | OSB Segment Performance (Q2 2022 vs Q2 2021) | Metric | Q2 2022 | Q2 2021 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $673M | $778M | -14% | | Adjusted EBITDA | $403M | $565M | -29% | | Avg. Selling Price | - | - | -22% | | Unit Shipments | - | - | +10% | South America Segment Performance (Q2 2022 vs Q2 2021) | Metric | Q2 2022 | Q2 2021 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $70M | $74M | -5% | | Adjusted EBITDA | $26M | $34M | -23% | [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with $503 million in cash at Q2 2022, with cash from operations at $908 million for the first half, primarily used for $575 million in share repurchases and $196 million in capital expenditures for siding conversions - Cash provided by operations for the first six months of 2022 was **$908 million**, an increase from **$772 million** in the prior year period, mainly due to working capital changes[117](index=117&type=chunk) - Capital expenditures for the first six months of 2022 were **$196 million**, a significant increase from **$65 million** in the same period of 2021, largely for siding conversion and growth projects[118](index=118&type=chunk) - The company used **$575 million** to repurchase common stock in the first six months of 2022, with a new **$600 million** share repurchase program authorized in May 2022[119](index=119&type=chunk) PART II - OTHER INFORMATION [Item 1A. Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) This section updates the company's risk factors, specifically highlighting the adverse effects of rising inflation, which could increase costs and depress consumer demand, negatively impacting profitability and financial condition - The company identifies rising inflation as a key risk that could adversely affect business by increasing costs of raw materials and labor, potentially impacting operating results and financial condition if not offset by higher prices[139](index=139&type=chunk)[140](index=140&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company details its common stock repurchase activities for Q2 2022, including the authorization of a new $600 million share repurchase program on May 3, 2022, and the repurchase of 7,337,813 shares during the quarter - On May 3, 2022, the Board of Directors authorized a new share repurchase program for up to **$600 million** of the company's common stock[143](index=143&type=chunk) Share Repurchases (Q2 2022) | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | April 2022 | 2,560,504 | $62.17 | | May 2022 | 2,346,876 | $68.56 | | June 2022 | 2,430,433 | $62.00 | | **Total Q2 2022** | **7,337,813** | - | [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that as of June 30, 2022, the company's disclosure controls and procedures were effective[134](index=134&type=chunk) - There were no changes in internal control over financial reporting during the quarter ended June 30, 2022, that have materially affected, or are reasonably likely to materially affect, internal controls[135](index=135&type=chunk)

@ BUILDING SOLUTIONS Q2 2022 RESULTS August 9, 2022 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 differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following, which may be amplified by the ...

@ BUILDING SOLUTIONS Q1 2022 RESULTS May 3, 2022 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 differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following, which may be amplified by the in ...

Financial Data and Key Metrics Changes - The company reported record quarterly net sales of $1.34 billion and EBITDA of $636 million for Q1 2022, with adjusted diluted earnings per share reaching a record of $5.08 [7][23]. - EBITDA increased by $174 million year-over-year, with $130 million attributed to higher OSB prices [21][23]. - Operating cash flow was $425 million, with $92 million spent on capital expenditures [21][32]. Business Line Data and Key Metrics Changes - The Siding Solutions segment achieved sales of $330 million, representing a year-over-year growth rate of 17%, driven by a 12% price increase and 4% volume growth [8][24]. - The OSB segment generated over $500 million in EBITDA, primarily due to increased prices and a shift towards Structural Solutions, which accounted for 55% of total OSB volume [16][27]. - Engineered Wood Products (EWP) generated $170 million in revenue and $38 million in EBITDA, with strong demand for I-Joist and Laminated Veneer Lumber [18]. Market Data and Key Metrics Changes - The company noted strong order activity across all North American businesses, with lean inventories reported by distributors [40]. - In South America, market conditions remained strong, with good demand and resilient pricing despite political turmoil [45]. Company Strategy and Development Direction - The company is focused on expanding capacity in the Siding segment, with ongoing investments in new facilities and mill conversions to meet growing demand [12][34]. - The strategic transformation towards specialty building products is emphasized, with a target of increasing the Structural Solutions mix to 75% over the next three years [81]. - The company aims to enhance its innovative product offerings, with expectations for the percentage of innovative products in the Siding portfolio to grow from 11% to 20-30% [51]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand for housing and construction, despite potential headwinds from rising mortgage rates and inflation [40]. - The company anticipates continued challenges from raw material and freight cost inflation but believes its strategic focus on specialty products will mitigate these impacts [31][36]. - For Q2 2022, the company expects consolidated EBITDA to be at least $540 million, with a year-over-year growth in siding revenue of at least 20% [36]. Other Important Information - The company has initiated share repurchases, reducing the share count significantly over the past year, and plans to continue returning cash to shareholders [34][23]. - The company is also addressing supply chain challenges, particularly in logistics, but has not faced significant supply input challenges recently [78]. Q&A Session Summary Question: Insights on housing repair and remodeling markets - Management noted strong order activity across all businesses, with lean inventories and positive outlooks from builder and distributor partners [40]. Question: Factors driving increased siding growth outlook - The increase is attributed to strong demand and successful startup of new production capacity, with ongoing planning for future projects [41][42]. Question: Market conditions in South America - Demand remains strong, with resilient pricing and ongoing capacity investments planned [45]. Question: Innovative products growth in siding - Management sees potential for innovative products to grow significantly, targeting 20-30% of the total siding portfolio [51]. Question: Input cost inflation details - Most inflation is driven by oil-based materials, particularly resins, with no significant supply issues reported [80]. Question: Structural Solutions mix target - The company aims for a 75% mix of Structural Solutions, with ongoing efforts to enhance margins and reduce volatility [81]. Question: Performance of Entekra - Entekra is seeing good order intake but progress is slower than desired, with revenues around $93 million for the last 12 months [103].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | Title of each class | Trading Symbol | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, $1 par value | LPX | New York Stock Exchange | Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such re ...

Louisiana-Pacific Corporation (NYSE:LPX) Q4 2021 Earnings Conference Call February 22, 2022 11:00 AM ET Company Participants Brad Southern - Chief Executive Officer Alan Haughie - Chief Financial Officer Aaron Howald - Investor Relations Conference Call Participants John Babcock - Bank of America Ketan Mamtora - BMO Capital Markets Mark Connelly - Stephens Paul Quinn - RBC Capital Markets Operator Good day and thank you for standing by. Welcome to the Fourth Quarter and full-year 2021, Louisiana Pacifi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934: For the Fiscal Year Ended December 31, 2021 Or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-7107 LOUISIANA-PACIFIC CORPORATION (Exact name of registrant as specified in its charter) Delaware 93-0609074 (Stat ...