Brad. Thanks,
results briefly high-level consolidated capital the be the of I'll Siding plan. our year revenue updating and year quarter, OSB on segments the the providing for you EBITDA between reviewing and last this to and addition and In for progress bridges allocation
been has referencing on be specific my Investor posted pages Relations of Throughout our our I'll presentation, which prepared website. earnings remarks,
move average of first, $XXX income XX%, So volumes, prices, for quarter, the The with XX%; sales for a on decline. of lower $XXX the account of combination year-over-year starting and X revenue million. of statement. consolidated Slide were were commodity down OSB Net OSB to let's million the which which by review down third fell
SmartSide, by million was $XX growth top the line. partly which XX% least this at of However, added to the offset
by OSB efficiency result significant were The overhead and partly inventory, reduction flow-through productivity fixed $XXX due absorption a in principally more by as which a improvements of downtime fell and profit quite million benefits a the moment. to price goods of lower of the from offset in finished Gross decline.
mill the relates million $X administrative increased quarters, charges, increase million curtailment Peace and consistent and offices. of driver Columbia our $X of of million $X the as million by marketing, and our the $X over and corporate OSB $X the impairment of principal Selling charge and costs in within reorganizations second charges credits our our comprised in $XX $X and sales British And continuing is which of the strategy. year. prior investment million of million for Other with growth first million Valley, of to with severance
XX last due million Nonoperating result cash interest of than income million last interest over significantly balances, higher expenses other million $X months. items. and a are lower lower $X interest net share year of sundry and of $XXX activity given charges income the includes expense buyback to And of net as almost
first X.X count of the million, non-GAAP XXX Removing results in a shares a of to $X after million the the the of delivered income and severance the share of delivery rate this tax per impairment in inception, was quarter the net million tax million in accelerated initiated repurchase charges So a earnings the net early diluted for provision quarter million share XX third, the of weighted and income. calculation. generated for shares third and we addition quarter $XX non-GAAP earnings $X.XX. in results of resulting The in normalizing completed share further share million per at $X and average
healthy I'm, the core the business revenue point. in of and EBITDA for in on course, this part possible the referring due February was year of housing irrespective capable in tables plan illustrate established allocation growth. most prices, by generating X, a LP of SmartSide, Slide business segment, to Now made of of OSB to The and and this part, having EBITDA showing Siding irrespective particular. help capital
to columns show quarter the final XXXX, third first XXXX. third column the results quarterly far XXXX quarter comparing so of the The three with the in sequential of
the first over So the admittedly, and And in then this price quarter X% the the this million higher million second. of Strand X% increases three seasonal the revenue in and particular, from $XXX the second higher first March grown to year, in again some has in revenue In than in third. was and benefit first million the the in $XXX second in the quarter quarters includes SmartSide demand than third patterns. quarter from Siding $XXX to
and the sequentially diminishing has mills. first cycle the from has is The only which a and after the its a quarterly has is investment XX% Siding EBITDA reason remained in year, consistent this OSB quarterly to growth risen Siding of XX% in OSB in also prices. is in total during to for quarter at to profitable sequential exhibit from of marketing the the XX% EBITDA trend produced Siding contribution growing revenue EBITDA company In this second short, down why and segment Siding this in LP share the business EBITDA third. risen the even
our the is drive in allocate now of impacted to South EBITDA, Siding EBITDA of $XXX before unallocated the significant pricing, by increases. lower economic volume prior performance year We a our segment it And hitherto in businesses more lower the EBITDA okay to which in and SG&A an all discussing cover consequently of revenue to X-K by million directly XXXX about SEC hence, the third $X with portion, against $X management slightly Chilean in XXXX peso million. business also lower the last as year. XX%, flow detail, I'll And dollar, EWP due to based. But against we than numbers was Revenue these drove for which $X million the primarily through are line that quarter South costs local which and than February, dampened reminder, reconcile filed a America. prices in American weakening OSB climate the further and the benefit detail briefly adverse of accountability. EWP's is million comparisons recast quarterly is
and EBITDA X. market grouped third the the shown savings in Transformation progress. below efficiency our And Slide EBITDA waterfall Strand, to the Impact it's X under are revenue we've EBITDA the the revenue that a orange in corresponding in changes impacts. Where Siding. The quarter on numbers in year-to-date basis bars And represents these together and Slide shows year-over-year demonstrate SmartSide same the heading the on text bars. investment the growth for summarized the order were earlier applicable,
to highlight, said SmartSide but cover Now it items overwhelming mean start this another with record has already year-over-year which waterfall, had I'll I of for I'm SmartSide Brad but a say is, few to going there growth XX%. are quite the course, Strand's on of we again: revenue. it, quarterly
higher. half net as disclosed X%, the the grew and negative However, deck, Rebates some to compared in a revenue with year, which the by in from were last second to quarter year. the grown has this gross of a comprising This Therefore, earnings first appendices the contrast of stark flat growth catch-up on of third SmartSide year-to-date X% including of by X% volume XX%, prices the is to to X%. brought in the volumes prior year, and basis, prices pricing pricing. to around X% quarter volume XX% X% from year,
growth combination generated not expected and in investments is by strategic emphasize almost through sourcing were a year-over-year growth in marketing said to of gains. for it generated savings OEE offset of was growth correlate should of period incremental costs $X And marketing must in that, and the with the at million which Smartside I offset by of EBITDA, long-term efficiency spend. spent. marketing least million million $X Having improvements enabler which incremental is be our This that a $X
quarter a was Creek OSB; Dawson producing reminder, As this of the during XXXX, as Columbia up producing mill it a newly Siding year, production whereas third OSB. in converted ramping mill is and any not our British
improvement quarter of and incurred result million the on million in XXXX, and conversion, an the which million quarter labor in is $X this compared second. of a unrecovered $X As to overhead bore this incurred $X we first the the
OSB mostly million, EBITDA by reduced revenue $XX $X price. Siding and although the by The production loss curtailment of segment was million in EBITDA
size the given quarter to for third on the much about as to transferring rest and labeled Siding cost. going some while standard the OSB twice of it now at producing siding impact segment was its selling segment In customers the I'm the bar to quarter. in was XXXX, OSB its as EBITDA absorption detail, address the directly
have this the of But million Siding of in no funded part saved. that mill because And because phenomenon a are the the the Siding this of reduce fixed costs the produced third the segment. profitability costs there The impact more than last optimization, a of significant capitalization a LP's been less OSB reduction same magnitude labeled is in and and remains million earnings call OSB produces, $X in of temporary $X removal it less period Any drive remaining mills that finished of is $X than will goods on quarter impact of I is lower-cost out not the million year. mills, because the it shifted sells the incurs. up inventory With our this as overall, into positive million The natural last as during should pronounced the quarter this segment. shows year, of have, a production fixed overabsorbed result OSB a to a than manufacturing reduction which generate $X as but by direct sold has only for on it of costs about enough caused costs operation and production, we to to the stress longer inventory inventory. being in the so of absorption by consequence course, saving inventory cash. it
which entered status the year another Greenway is of Siding revenue Dawson posting OSB; highest has highest market is acquisition Louis current its no the and while longer incurring in deliver reporting let's for operating prefinished business. while quarter directly leverage; mill up marketing recent record EBITDA summarize is producing spend So should, the the of this its quarterly facilities SmartSide. We've with for year. St. and Siding capacity ample running. and in Creek further The growth, turn, the of
quarter of margin production. Siding OSB EBITDA the for benefit is XX% The a the without respectable
EBITDA is have cost been ramp-up, our segment the which XX%, Dawson of which is stated margin long-term the closer definition, the all. temporary, if would So to for target the by then after we exclude
Slide EBITDA revenue XX for shows third quarter waterfall OSB segment. and the the
which OSB breakeven achievement this the elements to the which is this first said, business, stagnant this our is environment want truly we a for underway and walk transformation remarkable given a result. price the by OSB controllable a Brad is and OSB ongoing with within As our to of power ongoing EBITDA. all, entirety pricing testament testament adverse this last value-added within commodity year-on-year to housing. of through business the delivered the embedded performance current And prices, for compares And I Structural Solutions of in drop portfolio of prices of $XXX million the year's in in prices, XX% favorably drop After to a XX% products. drop accounted
our Commodity OSB the market-related. year-over-year, to Valley remainder X/X outstanding of This cost was it, into more contributor Compared major far by volumes than quarter, took XX down days XX% we the quarter downtime with approach in market. sluggish our in were of a taken and across were the system performance of XX second idling to we our year, Maniwaki. sprinkling which this Peace efficient and downtime collapsed in is downtime a
of reduced about loss million. I'm likely prices EBITDA of in commodity the volumes action, would most reported combination an of by describe, which the million. $XX offsetting the EBITDA to and $XXX lower Therefore, absence the have OSB However, the segment
our fixed and the call-out company also is saving of costs per volumes due resulting EBITDA the million for Valley, which OSB it to month. $X Solutions, includes $X of million benefit of from transformation EBITDA the So impact includes value-added Peace closing Structural increased
Valley. Along with also Radiant at we OSB, commodity Barrier Peace TechShield produced
we was Structural West was TechShield to portfolio Valley let to then Structural great if Solutions, profit. we cling volume it there our Coast. were high-cost go, Solutions growing willing the expense manufactured the expense at of the that U.S. subset won't of but that a shifted Peace to are a We at And
million jettisoned revenue we $X result, the loss of EBITDA and a the million realized of no $X with savings closure. from As of
a Brad remaining within to enabled and part, earthing compared in the our benefits Peace that, network. of is the ability at mills absorb improvements improving hidden the the Arguably, in our Valley. OEE to closure of mill volumes it OEE
savings, including the of part as which be therefore monetizing as can are our or of transformation. OEE accelerating thought We
high OEE, point. of was subject quarter third something the the of XXXX on of And a
was there been half from maintained. the benefits minimal the quarter, the this although first year-over-year So over the improvement year have of improvements
Now inventory arose reduction the I covered when finished goods that Siding discussed the in absorption of I segment. from impact that
this and absorption costs impacted the While discussing $X downtime of reduction of and finished business in we cost as this $X the was, therefore whole, if EBITDA, much we for LP inventory And efforts, quarter, efficiency. is million when OSB their OSB of between offset OSB savings a course, is cost though growth goods of mentioned, from know, Nonetheless, the same I also Siding, This $X second awash as result you phenomenon which of as partly focused item which by OSB rather the the $X on million combined is net academic will, of million because mode, is Siding, to like in blurry. of -- unlike rather distinction inflation. the Siding. impact is operating segment EBITDA. The remains downtime transferred, million
$XX of positive million loss of an is is a efforts EBITDA environment. million The for the $X all result of EBITDA harsh in $X X extremely just million. recovery, therefore, months, resulting a first pricing in an EBITDA these
XX. Our summarized Slide year-to-date flows third quarter are cash and on
cash a in was million million the $XX flow the almost driver of Aside of quarter goods. $XX result million a our of was the of in entirely operating reduction. reduction from This $XX EBITDA, finished major inventory
OSB. words, last movements third million. million $XX with this about year, that point good I'm of year, the divergence other finished outflow is drove $XX shown and inflow million goods stressing million to However, across hit finished absorption $XX $X million, EBITDA increased Siding year $X of it of compared in last by on not we during of although because inventory the quarter slide, the this the
From right impact operations. now quarter. despite the cash year-to-date On we've basis, on earnings was in EBITDA the from perspective, do this negative unquestionably flow $XX of the a a to generated and cash million thing
in largely in As million generated outflow first a we reminder, which $XX the second the quarter, the million quarter. offset $XX
introduced to and range our a February, XXXX flow guided for allocation of our to we cash capital of prices. cash in operating sensitivity described OSB guidance plan flow we when the Now
growth our about We additional million $XXX million cash million $XXX and stated adjusting and taxes, inflation of incremental X by annual After from of efficiency XXXX. also goal should EBITDA for produce of labor years. flow $XXX over generating this
this and XXXX to in is improved be cash reflected in will transformation on continue operating flow. progress Our
example, modeled For cash price. OSB feet Lengths $XXX should the Random will the at X/XX average we square XXXX? for believe thousand our per that $XX price We that million operations ultimately exceed
earlier, revolver, bought in August, of the mentioned open numbers, As cash, report accelerated resulting buyback million We full of after the From third of completion million $XXX including we on perspective, million net at outlined share And average And undrawn with basically in repurchase expect ended which when liquidity. was debt I remaining share we our early shares market XXXX. of the when of that a $XXX year the completed have $XXX in have an $XXX of fully our worth in $XX. million of we $XX price X. million allocation over authority quarter plan. be I'll we that plan million $XXX for announcing the capital
So beyond. before for for Slide provides XXXX call XX limited Q&A. guidance turn some the I and over
all guidance, improving but reaffirming spending our are We guidance. capital further
and million to the exceed quarter not for range we call, believe of year, indicated the will On million now $XXX spending our capital second $XXX $XXX million. we a
Operator? Q&A. And with the call will that, I up for open
