Louisiana-Pacific Corporation (NYSE:LPX) Q1 2022 Earnings Conference Call May 3, 2022 11:00 AM ET

Company Participants

Aaron Howald - Vice President, Investor Relations and Business Development

Brad Southern - Chief Executive Officer

Alan Haughie - Chief Financial Officer

Conference Call Participants

John Babcock - Bank of America

Ketan Mamtora - BMO Capital Markets

Susan Maklari - Goldman Sachs

Mark Weintraub - Seaport Research

Sean Steuart - TD Securities

Paul Quinn - RBC Capital Markets

Ketan Mamtora - BMO Capital Markets

Operator

Hello. Thank you for standing by and welcome to the First Quarter of 2022 Louisiana-Pacific Corporation Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Aaron Howald, Vice President of Investor Relations and Business Development. Please go ahead.

Aaron Howald

Thank you operator. Good morning, everyone, and thank you for joining LP Building Solutions today to discuss our results for the first quarter of 2022 and our updated outlook for the second quarter and the full year.

My name is Aaron Howald and I'm LP's Vice President of Investor Relations and Business Development. I'm joined this morning by Brad Southern, LP's Chief Executive Officer, and Alan Haughie, LP's Chief Financial Officer.

During this morning's conference call and webcast, we will refer to an accompanying presentation that is available on LP's IR webpage, which is www.investor.lpcorp.com. Our 8-K filing is also available there along with our earnings press release and other materials. We expect to file our 10-Q in a few days.

Slides 2 and 3 of the earnings presentation provide notices and detail regarding non-GAAP financial metrics and forward-looking statements. The appendix of the presentation also contains some necessary reconciliations that are further supplemented by this morning's 8-K. Rather than reading those statements, I incorporate them by reference.

And with that I'll turn the call over to Brad.

Brad Southern

Thanks Aaron. Good morning, everyone and welcome to LP's earnings call for the first quarter of 2022. The year is off to a very strong start for LP with record quarterly net sales of $1.34 billion and EBITDA of $636 million. LP's ongoing share repurchases have reduced the share count by now that the resulting quarterly adjusted diluted earnings per share of $5.08 was a record.