Q2 2023 Outlook and 2023 Capital Expenditure Guidance
Our guidance is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks, including those set forth below under “Forward-Looking Statements.”
- Siding Solutions second quarter 2023 revenue is expected to decrease year-over-year by up to 5%
- OSB second quarter 2023 revenue is expected to be sequentially higher than the first quarter 2023 by approximately 20%, assuming that OSB prices published by Random Lengths remain unchanged from those published on April 28, 2023 (this is an assumption for modeling purposes and not a price forecast)
- Under these assumptions, second quarter 2023 Adjusted EBITDA(2) is expected to be greater than $80 million
- Given our current outlook, capital expenditures for 2023, excluding the $80 million paid for the Wawa acquisition, are expected to be in the range of $330 million to $370 million, including $140 million to $160 million for the mill conversions, $120 million to $130 million for sustaining maintenance, and $70 million to $80 million for other strategic growth projects
