Investor Presentaiton
2024 GUIDANCE AND SENSITIVITIES
Siding Growth and Margin
Siding Revenue
Siding Adjusted EBITDA 1
Full Year
$1.45B (+8-10% growth)
$280-300M (~20% margin5)
1st Quarter
$340-350M (+3-5% growth)
$65-70M (~20% margin5)
OSB Cycle Average Annual Adjusted EBITDA 1,2: ($60 EBITDA / MSF) x (4 BSF Capacity) x (~85% Capacity Utilization) = $200M
OSB Adjusted EBITDA 1,2,3
Total LP Adjusted EBITDA 1,2,3,4
Adjusted EBITDA¹ Sensitivities
Siding Volume
OSB Volume
OSB Price
Capital Expenditures
Growth
Sustaining Maintenance
Total
PAGE 56
$215-225M
$495-525M
Change
Annual Adjusted EBITDA¹ Impact
+/- 10 MMSF
+/- $4M
+/- 10 MMSF
+/- 10 $/MSF
+/- $2M
+/- $34M
$65-75M
$130-145M
$50-60M
$150-160M
$200-220M
(1) This is a non-GAAP financial measure. Reconciliation of Siding Adjusted
EBITDA, OSB Adjusted EBITDA, and Consolidated Adjusted EBITDA
guidance to the closest corresponding GAAP measure on a forward-
looking basis is not available without unreasonable efforts. Our inability to
reconcile these: measures results from the inherent difficulty in
forecasting generally and quantifying certain projected amounts that are
necessary for such reconciliation. In particular, sufficient information is
not available to calculate certain adjustments required for such
reconciliation, such as business exit charges, product-line
discontinuance charges, other operating credits and charges, net, loss on
early debt extinguishment, investment income, and other non-operating
items, that would be required to be included in the comparable forecasted
U.S. GAAP measures. The Company expects that these adjustments
may potentially have a significant impact on future GAAP financial
(2) We determine the cycle average for OSB Adjusted EBITDA by dividing
the sum of the full year 2013 through 2020 and 2023 OSB Adjusted
EBITDA by total OSB sales volume over the same periods to determine
the average Adjusted EBITDA per thousand square feet on a 3/8 basis
("Average Adjusted EBITDA/msf"). The Average Adjusted EBITDA/msf is
multiplied by the total OSB production capacity multiplied by 85%, the
average capacity utilization over the same period.
results.
(3) For purposes of calculating the full year 2024 OSB Adjusted EBITDA and
full year 2024 consolidated Adjusted EBITDA amounts in the table
above, the second quarter through the fourth quarter of 2024 Adjusted
EBITDA is assumed to be at our cycle average run rate.
(4) For purposes of calculating the fourth quarter of 2024 and full year 2024
consolidated Adjusted EBITDA, LPSA Adjusted EBITDA fully offsets
Corporate and Other Adjusted EBITDA.
(5) This is a non-GAAP financial measure and is calculated as Adjusted
EBITDA¹ divided by net sales.View entire presentation