Other materials. Slides two and three of the earnings presentation provide notices and detail regarding non-GAAP financial metrics and forward-looking statements. The appendix of the presentation also contains reconciliations that are further supplemented by this morning's 8-K filing. Rather than reading those statements, I incorporate them herein by reference. With that, I'll turn the call over to Brad. Thanks, Aaron. Good morning, and welcome to LP's earnings call for the Q2 of 2022. LP's ongoing transformation continues to deliver results with another very strong quarter of growth and value creation. We face ongoing inflationary pressures for raw materials and freight, but as Alan will discuss later, LP's growth more than offset these cost headwinds in the quarter. While we are watching inflation, mortgage rates, the housing market, and the broader economy very closely, so far, we have seen few signs of reduced demand for LP's products. This is especially true of demand for our more specialized and higher value-added offerings. Siding Solutions grew at 24% year-over-year to hit $356 million in sales, which is another quarterly record. Commodity OSB prices fell steeply through the quarter, but LP's portfolio of specialty Structural Solutions products significantly improved price realization and margin for the OSB segment. As a result, we somewhat outperformed our algorithmic guidance for OSB revenue. Structural Solutions volume increased by 28% to reach 53% of total volume in the Q2. Through the H1 of 2022, LP has delivered over a billion sq ft of Structural Solutions products. Logistics challenges we faced earlier this year, especially in British Columbia, have eased somewhat, helping our operations team minimize logistics-related downtime. Alan will give a more detailed capital allocation update in a moment, but LP remains committed to returning cash to shareholders via dividends and share repurchases. In fact, LP returned almost $500 million to shareholders in Q2, and we have spent a little under $200 million so far in Q3 on buybacks. LP's board of directors approved another quarterly dividend of $0.22 per share, as you may have seen in Friday's press release. Slide six of the presentation shows more detail about Siding growth. The bar chart on the left shows that Siding Solutions revenue has grown 17% through Q2 on a trailing 12-month basis compared to the prior period. By contrast, single-family housing starts were flat over the same period as multifamily starts rebounded from COVID lows. Comparing only the Q2 of 2022 to 2021, single-family starts were down about 3%. The Siding volume and price both hit records, pushing revenue growth to 24%. This is hardly surprising given the diversity of products, applications, and customers served by Siding. Only about 40% of Siding volume goes to single-family new construction. The products that tend to go into repair and remodeling applications are more specialized and generally have a higher price point. The fastest-growing component of the Siding portfolio continues to be innovative products like shakes, corners, Expert Finish prefinished Siding, and Builder Series. In the Q2, those products combined for 12% of total Siding volume, up three points from last year. That 12% of volume contributed 16% of Siding's Q2 revenue. LP is committed to investing in this growth. The newest Siding mill in Houlton, Maine is ramping up ahead of schedule. Earlier this summer, we broke ground at LP's new Expert Finish prefinish facility in Bath, New York, and work continues at LP's OSB mill in Sagola, Michigan. Sagola remains on schedule to produce SmartSide starting late in Q1 of next year, and when fully operational, will bring Siding manufacturing capacity to just under 2.3 billion sq ft. Let me also add a brief word about the Engineered Wood Products segment. The sale of the EWP business closed last Monday, the first of August. Including LP's equity in the I-Joist joint venture with Resolute and before taxes, fees, and other adjustments, the total proceeds from the EWP divestiture was $260 million. Throughout the process, we sought a buyer that was committed to investing in the EWP business and who could ensure a smooth transition for its customers and employees. We believe we have found that rightful owner in Pacific Woodtech. I want to thank all the people who have shepherded this process to its successful conclusion. I also wanna thank the nearly 700 EWP employees for their many years of service and unwavering focus on safety, value creation, and customer service. I wish the EWP team and Pacific Woodtech nothing but success. Looking forward with this divestiture complete, LP is more focused, more specialized, less dependent on new construction, and exceptionally well-positioned for ongoing growth and innovation. Finally, LP celebrated its 50th anniversary of incorporation on the July 20th. That is a milestone few companies reach and one that is impossible without the creativity, determination, and dedication of countless employees, past and present. Thanks to all of them, LP has endured and transformed. Today, LP is an innovative, ethical, safe, and sustainable force in our industry, delivering high-quality specialty building solutions to our customers and exceptional value for our shareholders. I am confident that LP will continue to build on our history and that we have a bright future ahead of us. With that, I will turn the call over to Alan for a more detailed review of LP's financial results in the quarter and our updated guidance for Q3 and the full year. Thanks, Brad, and thank you all for joining us this morning. Before we proceed to the quarterly results, I'd like to echo Brad's comments and add my own personal thanks to both the EWP employees and to everyone else who helped bring this process to a successful conclusion. Let me also say that the completion of this divestiture means that the financial results of the EWP segment have been classified as part of discontinued operations. For the avoidance of doubt, there is nothing else in discontinued operations in the Q2 other than EWP. Aside from the EWP divestiture, the short story of the Q2 is that demand for LP's products remain healthy, with the growth of both Siding and Specialty OSB structural solutions more than offsetting inflationary headwinds. Of course, we continued to invest in growth and return significant cash to shareholders via share repurchases. Slide seven of the presentation shows the highlights for the quarter. For ease of comparison, we are showing EBITDA and earnings per share, both with and without EWP. Net sales from continuing operations of $1.1 billion was down 3% from the prior year. However, largely due to low OSB prices, EBITDA from continuing operations of $491 million was 26% lower. EWP's final full quarter with LP was another strong one, adding $44 million of EBITDA on top of the $491 million from continuing operations. Capital expenditures in the quarter of $103 million are on pace to hit our full-year investment target of $400 million plus, which I'll describe further in a moment. Slide eight shows the waterfall for Siding. Sales growth of 24% was the compound effect of a 10% increase in volume and a 12% increase in price. About 10 points of which was from list price increases, with two points from favorable mix. Please note that the mid-year price increase announced on our last earnings call took effect on July 1st and will be reflected in the Q3 results. Siding sales volume of 448 million sq ft was another record, made possible by the ongoing ramp-up of Houlton and a 2 percentage point increase in operating efficiency. Compared to the same quarter of last year, price and volume growth combined to deliver $47 million of EBITDA. Investments in future growth totaled $7 million, the largest component being the $4 million spent in ongoing commissioning of the Houlton facility. Raw material and freight inflation reduced year-over-year EBITDA by $13 million, and all other costs of $10 million covers regular maintenance as well as SG&A increases from wage inflation and incentive compensation. This performance from Siding stands as a clear demonstration of our strategy in action, to grow now, to invest in the future, and to drive product innovation. As a result, if and when raw material prices fall, we should see margins return to or even exceed pre-inflationary levels. Slide nine shows the waterfall for OSB, prices for which fell steeply throughout the quarter, ending 24% lower year-over-year. However, growth in Structural Solutions both moderated the impact of price volatility and significantly improved price realization. In fact, Structural Solutions prices fell by 16% at half the rate of the commodity price fall of 32%. Combined with increased Structural Solutions mix, this dampened the EBITDA margin drop to a respectable 13%, from 73% last year to 60% this year. While Random Lengths prices may have ended the quarter significantly below the level assumed in our algorithmic guidance, the higher mix of Structural Solutions helped OSB to deliver nonetheless impressive results. Commodity volumes were 4% lower year-over-year. This is the net effect of increases in volume from Peace Valley, which had not yet resumed operating in the Q2 of last year, offset by shifts to Structural Solutions, logistics constraints, and lower operating efficiency. However, Structural Solutions volume increased by 28% year-over-year to 53% of total volume in the Q2, a full 7 percentage points higher than last year. This was again partly due to Peace Valley, which makes specialty products such as TechShield radiant barrier and premium flooring, and partly due to the ongoing system-wide transition from commodity to Structural Solutions. The OSB business too continues to experience raw material inflation with a $22 million hit to EBITDA. Again, the performance of OSB this quarter describes our strategy better than any words could. Not only did the Structural Solutions portfolio of products help moderate the impact of price volatility, but the EBITDA from this specialty growth was nearly double the combined impact of lower commodity volume and raw material prices. Much like Siding, our aim in OSB is to drive Structural Solutions growth to make these benefits sustainable. Slide 10 summarizes all of this for continuing operations. Even though lower OSB prices reduced EBITDA by $195 million, the things we can control, namely Siding growth and the shift from commodity to specialty OSB, they netted $99 million, just enough to offset raw material inflation, costs for the Houlton and Sagola conversions, and everything else besides. Slide 11 summarizes cash flow for the Q2. LP began the quarter with $637 million in cash and earned $535 million in total EBITDA. Working capital reductions brought in $94 million, mostly the impact on receivables of lower OSB prices. LP paid $158 million in cash taxes and $12 million of other stuff for an operating cash flow of $483 million. LP's cash balance at June 30th was $560 million after spending $103 million in CapEx and returning $489 million to shareholders, mostly by repurchasing shares. Proceeds from the EWP divestiture of $210 million, less taxes and fees will be recorded in our Q3 results. Those funds are not earmarked for any particular purpose other than supporting our capital allocation strategy, but they obviously contribute to an already strong balance sheet. Speaking of which, let me update you on LP's capital allocation. Having purchased 7.3 million shares for $471 million in the Q2, LP's share count was 77.3 million as of June 30th. Since then, we've spent an additional $197 million to repurchase a further 3.4 million shares, bringing our share count as of August 8th to 73.9 million shares. We have $329 million remaining in the prior board authorization. Our capital allocation strategy and the motivation driving it remain unchanged. We will return cash to shareholders after necessary investments in growth, and we will continue to do so while our share price remains meaningfully below our assessment of LP's intrinsic value. Of course, we must earn the cash first, given that we plan to maintain our very strong balance sheet. Which brings me to guidance for the Q3 and full year. The major drivers of Q3 performance are expected to be similar to those of the Q2, with growth in Siding and specialty products in OSB expected to more than offset inflation. I should stress that we see no signs that any of these growth trends are decelerating despite growing macroeconomic uncertainty. In order to meet that long-term demand, LP continues to invest in capacity for SmartSide and Structural Solutions. We still expect full-year CapEx to be in the $400 million-$430 million range. Of the $210 million earmarked for Siding mill conversions, roughly $50 million is for Houlton, the vast majority of which has already been spent, and about $130 million is for Sagola, with the bulk of that occurring in the H2 of this year. Spending for Sagola will continue into 2023, and it remains on schedule for a startup in the Q1 of 2023. The remainder of the mill conversion spend is for long lead time items for the as-yet-unnamed Siding line that will follow Sagola. We expect Siding growth in the Q3 of about 20%, and we are affirming our previous guidance of full year Siding revenue growth of at least 20%. Also, while raw material inflation impacted Siding's EBITDA margin in the Q2, we reiterate our long-term EBITDA margin target for Siding of at least 25%. Commodity OSB prices are down both sequentially and year over year, but have stabilized in July. As a result, we'll use the same algorithm for OSB revenue guidance as we did for the Q2, but with an updated price assumption. Assuming Random Lengths prices are flat for the remainder of the Q3 at last Friday's published levels, we would expect to see a sequential reduction in OSB revenue of about 40%. This would bring Q3 EBITDA from continuing operations to about $200 million. With that, we'll be happy to take your questions. Thank you. Ladies and gentlemen, if you'd like to ask a question at this time, you will need to press star one one. Again, that's star one one to ask a question. Please stand by while we compile the Q&A roster. Our first question coming from the line of Ketan Mamtora from BMO. Your line is open. Thank you, and good morning, Brad, Alan. First question, can you talk a little bit about the channel inventories that you are seeing in the Siding business? You know, we are seeing, you know, quite a bit of inventory destocking in some building product categories. I was just curious kind of what you are seeing in Siding. Yeah, Ketan, we are still experiencing very lean channel inventories as it relates to our Siding product. As you know, we've been on managed order file for you know, close to two years now. Certainly the volume we're getting out of Houlton is helping some now, but we're still running very lean inventories at distribution. Really, no change since the last call. Got it. That's helpful. As my follow-up, Alan, I was just wondering, you know, if you can talk a little bit about, you know, how you think about share repurchases versus, you know, keeping some liquidity cushion flexibility, you know, with your balance sheet if the market were to slow, you know, over the next two or three quarters. Yeah, a great question. Thank you. I'm gonna start by saying that we still have an extremely strong balance sheet today. We have $250 million of very cheap high-yield debt, which I intend to keep in place. We have $550 million of undrawn revolver. We have borrowing capacity should we need it for any sort of investment in future growth. I want to reiterate that the cash we devote to share buybacks not only has to be earned first, forms part of a strategy whereby we basically pass out the cash needs of the business first in terms of investment in all of our growth plans. It is what I'll call a safe remainder, at times a huge safe remainder, that we return to shareholders via share buybacks. There's no question that investment in the business comes first. I also believe that the incredibly strong balance sheet that we have today puts it in a very safe position to handle any potential downturn should it occur, without compromising our ability to continue to invest in growth. All right, that's helpful. I'll jump back in the queue. Thank you, Ketan. Thank you. Our next question coming from the line of Susan Maklari from Goldman Sachs. Your line is open. Thank you. Good morning, everyone. My first question is, you know, thinking about the demand environment, perhaps especially as it relates to Siding, you know, it seems like you didn't see any material slowdown in the quarter, which, you know, we've heard from some of your some of your broader building product peers. I guess, can you talk about how the quarter trended and how you're thinking about the outlook for volumes as we get into the back half of this year and then maybe even into early 2023? Yes, Susan, we had very strong order patterns throughout the quarter. You know, being on managed order file, you know, we're essentially oversold, and we have stayed that way certainly all of this year. Whenever we've experienced weakness in one of our distribution channels or regions, other distributors, other customers, other regions have been able to take up that available inventory, you know, pretty much on demand. You know, we're not sensing any slowdown in Siding order patterns at all. We expect that to continue certainly for the rest of this year. You know, it will help, as I mentioned to Ketan, as we continue to ramp Houlton up, having that extra volume. Frankly, as we look into the remainder of this year, and as kind of Alan reiterated in the guidance, we will be selling to capacity, you know, really certainly for the rest of this year. Now, you also asked, looking over into next year, and you know, we've been recently really beginning the planning process for next year's budget, and we continue to see very strong growth extending into next year. Once we have Sagola up and running, that'll be a sizable increase in capacity for us, about you know 50%-75% more than the Houlton line. Again, the ramp up for those are you know, we start from zero, and you get to 100% in about a year. I feel like we'll be running to capacity for certainly the H1 of next year. You know, we'll see what happens from there. We're still very optimistic about Siding, given the diversity of our end-use customers, the diversity of channels that we operate in, our geographic diversity, and then the diversity within the product offering. You know, we're running full steam ahead. Okay. That's very helpful color. You know, following up on that, you mentioned that you did see some of those logistics challenges in Canada ease a bit in the quarter. Can you just talk in general about, you know, what you're seeing on the supply chain and inflationary side, and how you're thinking about that for the back half of this year? The raw material availability has been mostly unconstrained in Q2. We've had availability of supply. Of course, you know, pricing is a different matter, and Alan talked about that, and we can go in a little more detail if you would like. Similarly, on the logistics side, where we had to take downtime Q1 and early in Q2 as it related just to inability to get rail cars or trucks into some of the Canadian facilities. Susan, we have limitations on how much finished goods inventory we can put on the ground there. Once we hit those capacity constraints, then we have to take the mills down. We have been working diligently by swapping trucks for rail or rail for trucks, depending on the situation, and have been able to keep product flowing certainly through the H2 of Q2 and as we speak today. It's a daily grind. There is, I would say, risk associated with potential for further downtime, especially given weather conditions as we get later into the year. Right now, we're basically able to get equipment under every load we can produce. Okay. That's very helpful color. Thank you, and good luck with everything. Thank you, Susan. Our next question coming from the line of Sean Steuart with TD Securities. Your line is open. Thank you. Good morning. Couple of questions. Can you remind us of the magnitude of the July Siding price hike? Just trying to gauge how much catch-up there could be on margins for that segment, if at all this quarter, given the cost inflation that cut into margins in Q2. Yes, Sean, we went out, depending on region, depending on channel, with a 2%-3% price increase July 1. We expect to realize most of that fairly quickly. There's some, you know, agreements we have in place that can delay it by a matter of weeks. But that price increase, you know, it's not that large, but it is sticky. We expect it to pass through certainly by the time we get to the end of the quarter. Okay. Well, that's useful. Thank you. I was just gonna add that with respect to the second part of the question was with respect to which raw material inflation is impacting the margin. You know, the Siding business is running at a year-over-year inflationary cost impact of about $25 million per quarter, about seven points of margin. I mean, if you just took the raw material increases that we experienced in the Q2 and halved them, let's pretend that we enjoyed half of that, then the margin would've been back to 25%, our long-term guidance. The business is carrying hefty inflation and still maintaining, I would argue, very healthy margins. We are optimistic that there's an upside in the Siding margins. We'll call it a permanent upside, should we see raw material deflation. Got it. Thanks for that. Second question. Brad, I'm wondering if you can comment on your sense of the shape of the OSB cost curve and any sense you have that market-related downtime might be possible at some of the higher cost mills in the industry at some point over the H2 of this year. Are prices getting low enough where that might be necessary at this point, or is there still some cushion left? Well, let me just say from a cost curve perspective, I think, you know, look, I've spent half my career in the paper side of forest products, where some of those cost curves can be rather steep when you get to very small paper mills. In OSB, but comparatively, I think OSB's cost curve is relatively flat. So, you know, there's not. I mean, there are a few smaller high-cost OSB mills that are still operating, and obviously, you know, they would be stressed if pricing fell. As I look into the H2 of the year, you know, I really believe, Sean, that it's a demand capacity issue, you know, that is at risk. We, you know, we're not sensing that in our OSB order file right now, any like significant weakness. You know, I would not wanna speculate on pricing, but I could see OSB demand staying kinda stable as we get through at least the early fall. As you know, once we get to Thanksgiving to January 15th, a lot can happen depending on if the builders decide to keep building through that holiday season and also the impact of weather as we get later into the year. That could have impact on demand. It could, you know, drive that the operating ratio down. But, you know, we're pretty. I mean, we feel pretty good about underlying demand right now as we work through the rest of the fall season. Inventories for OSB are more balanced in the channel. I don't think we've answered that question yet. I do think there was a little bit of inventory build over the summer that have allowed for where we are today, is we're selling to demand. I think inventories are pretty much in balance. The orders that we get in, we feel pretty confident are going right out the door, you know, into the market. Now let me just say on downtime, you know, we are committed to balancing the demand for our OSB product line against our capacity. You know, we're committed to supplying our customers the OSB that they need. We're not committed to building inventories at our location or in off-site locations in order to keep operating our facilities. That's how we will behave if we do see demand falling, you know, as we get later into the year or the first part of next year. That is excellent detail. Thanks very much. Thank you. One moment for our next question. Our next question coming from the line of Mark Weintraub with Seaport. The line is open. Thank you. Just a follow-up first on the EBITDA margins in Siding. If we were to take the price increase, the mid-year price increase, and what you've seen so far in terms of incremental change in inflation, and any color on that would be great too, do you imagine margins climbing towards that 25% or somewhere between where they were in the Q2 and the sort of 25% longer term expectation in the H2 of the year? Any other color as to the critical variables that might impact where the EBITDA margins in Siding would be likely to come out in the H2 of the year. Sure. Yeah. Given the price increase, if raw material prices, I'll answer the question the way we sort of answer OSB price guidance. If raw material costs don't rise from the Q2 levels, and everything else about our forecast on Siding remains robust, I will say that the pricing in the market is being well received and sticky. You would see margins around about or slightly above 25% if the raw material prices don't worsen. Great. To date, as you look at where things are today versus where they were on average in the Q2 on the raw material side, how would you characterize that? I would characterize that as, I'm going to refuse to answer that question right now. Okay. I will get back in queue. Thank you. Our next question coming from the line of Michael Roxland with Truist Securities. Your line is open. Thank you. Good morning, Brad, Alan, Aaron. Thanks for taking my questions. Welcome to the call. Oh, good to be here. One quick question on the your order books. You obviously mentioned that you have managed order file the last couple of years. You're not sensing any weakness in OSB orders right now. Can you? I mean, what's your line of sight with respect to your orders? How far do they extend? Is it a couple of weeks? Is it a month? Are there any indications that as you get in the back half of this year, that you could start to see some weakness, particularly given what some of the builders have indicated in terms of slowing demand? That's a good question, Mike. So for Siding, we have good lead times out for six weeks on Siding. When I speak of strength, just kind of the nuance, the way we're managing the order file on Siding, we've got pretty good visibility out on that order. So let's just say four-six weeks, no weakness in the forecast at all. We have shorter order window on OSB. Typically, that is two-four. I would say right now we're probably selling two-three weeks out, three weeks more than two. If things were to fall off the cliff, say, here it is, first of August, middle of September, we do not have visibility out that far for OSB. We're a lot shorter on the order file on OSB, so a little bit more vulnerable to a downturn in demand. Got it. Appreciate that, Brad. One quick follow-up. You mentioned your commitment to the capital allocation, you know, obviously the priority being investing in the business first and then anything that's left over, for returns to shareholders. How do you think about share repurchases given the Inflation Reduction Act, which looks like it's going to pass and which taxes share repurchases at 1%? Does that impact at all how much capital you intend to return? No, not at all. That 1%, call it tax, is so small compared to the gap we believe exists between our intrinsic value and our current share price as of even right now, not that I've looked in the last half an hour. That 1% is a drop in the ocean. It's of no consequence to our capital allocation strategy. Got it. Good luck in the H2. Thank you. Thank you. As a reminder, to ask a question, please press star one one. Our next question coming from the line of Kurt Yinger with D.A. Davidson. Your line is open. Great. Thank you, and good morning, everyone. Just my first question on, in terms of OSB cash production costs, what's the best way to think about the difference between commodity and Structural Solutions from a cost perspective? Well, there's a lot of variation on the Structural Solutions side to the incremental cost depending on how sophisticated the product is relative to commodity. I would say we're looking at adding, I don't know, Aaron, $30-$60. Well, for FlameBlock, $100+. There's a lot of variation. Just if you're looking at our portfolio, say somewhere between $30-$80 of additional cost. Got it. Okay, that's helpful. On my second, could you just help us think about what annualized production on the OSB side looks like given where Peace Valley is and with Sagola out of the picture next year? Yeah, Kirk. We would be pretty close to four billion sq ft with the net effect of a Peace Valley addition and a Sagola removal from the system. Got it. Okay. Appreciate all the details. Thank you. Yep. Thank you. Our next question coming from the line of Paul Quinn with RBC Capital. Your line is open. Yeah, thanks very much. Morning, guys. Just following up on Kurt's question on Peace Valley. You started that about a year ago. Are we at full capacity at the mill right now? We are, Paul. Yes. Okay. Just looking at the North American OSB market itself, there's you know, on paper, there seems to be quite a few capacity adds in 2023 and then another couple in 2024. Have you heard anything in the channels or from customers about you know, some of the delays that might be affecting some of those mills that are expected to start up? Paul, I don't wanna be specific because it'd be hearsay, but I would just say, generally, we're hearing more delays than expediting of those capacity additions in OSB for a variety of reasons, depending on the project. Okay. Then just on housing starts in general, it seems like you're slowing with the jump up in rates here. Although it seems to be slowing here. You know, on your Siding side, it's really more leveraged to the repair and remodel market. I know you can only afford to see sort of that four-six weeks out, but how are you thinking about that market, you know, for 2023 and beyond? We feel good about repair and remodel. You know, we're adding capacity right now in Green Bay, Wisconsin, at one of our prefinished facilities. We talked about, on the call in the prepared remarks, the facility in Bath, New York, that will be operational middle of next year. Well, we are running our prefinished capacity also on managed order file. That additional capacity at Green Bay and Bath will have an immediate impact on our ability to grow in repair and remodel. We do believe it is more that we are capacity constrained on growing that part of the business today, not market constrained or market acceptance constrained. As we ramp up these prefinished facilities, we're expecting, you know, that to be a significant contributor to our growth next year. You know. Okay. Sorry, I was just gonna say it could turn out for once we could get the timing right, that if housing does weaken, you know, we will have some momentum in repair and remodel to continue this, you know, this good growth story that we have. Sorry to interrupt, Paul. Yeah, no worries. Let's hope that works out for you. Just, lastly, just on Entekra, if you could give us an update there. Yeah. We continue to make slow progress at Entekra. I'll just pretty much similar to what I said last quarter. We're very pleased by the market acceptance, repeat customers coming back in for, you know, second time with more volume. We are working through operational issues at the facility. You know, we're pretty much. I mean, LP's pretty much taken the operational side of that business into our system now, and we're seeing improvements. We need to see continued improvements there on the cost side. You know, just as you can imagine, it's been volatile with lumber prices and EWP pricing running through there and capturing that. We certainly also have, you know, some operational improvement opportunities that we're beginning to implement in earnest, that we're wanting to see improvement on the cost side, you know, the rest of this year and across into next year. We'll probably have more to say on the next call, Paul. We're going through a pretty intensive strategic evaluation of that business. I mean that positively. I'm not talking EWP language on strategic reviews. We'll have been operating the facility full time for about 2.5 years when we get to November. We're gonna really take a step back over the next three months and see what we have and try to understand its place in our portfolio of businesses. We're still bullish about the business in general. Just wanna make sure that from an operating perspective, you know, we feel like we can continue to make the progress we need to make that a viable business for us. Great. Thanks very much. Best of luck. Thanks, Paul. One moment for our next question. Our next question coming from the line of Mark Weintraub from Seaport. Your line is open. Thank you. Two quick follow-ups on cash generation. On the EWP side, I think you mentioned $260 in gross, and then there are gonna be some fees and taxes, et cetera. Can you give a sense what the net proceeds for that's likely to be? Well, yeah, sure. The net proceeds for the 210 after taxes are going to be around about 170. There's roughly, I'm being very conservative here, let's say $10 million of fees and such, and there'll be a little less than that, another adjustment, and about $30 million of taxes on the 210. On the $60 million that we already received for the JV, there's no taxes payable, so that's free and clear. Okay. Just to clarify, so the 60 already showed up in the H1 of the year? That's right. Yeah. Yeah. Okay. Can you give us a preliminary assessment on where CapEx is likely to be next year? Certainly, of the same order of magnitude as this year, all things considered. Maybe a little bit lower, but not meaningfully. I would say at this point, early read, somewhere between 300 and 400. Super. Thanks very much. All other things being equal. Oh, Mark, while you're on, let me- Yeah. I just want to go back and to see if you allow me to improve on my answer to the raw material question. Sure. I'm sorry for being as abrupt as I was. Obviously, the guidance we gave of $200 million, of about $200 million for the Q3, that includes about the same level of year-over-year raw material inflation that the business experienced in Q2. A very modest uptick from Q2 to Q3. We see no signs as of right now that that's under threat, let's say. Okay. We're basically assume that it's running at about the same level as of today. Thank you. Thank you. One moment for our next question. Now next question coming from the line of George Staphos with Bank of America. Your line is open. Thanks. Hi, everyone. Good morning. Thanks for all the details. Alan, Brad, could you give us a bit of color in terms of what you're seeing on lead times for the next presses and equipment that you'll see with the next Siding mill relative to what you saw with, you know, Houlton and Sagola and what you're seeing with Sagola. Any change there? And if you had to put a number on it, are we talking about 18 months, 24 months? Any thoughts on that? George, that is a great question. Fortunately, with our board did support early lead time procurement for the next conversion after Sagola. We feel good that we've gotten in the queue for all the critical equipment, delivering, you know, kinda on our schedule, not having to wait on that. Certainly there's some risk there, I don't wanna say there's not. We were proactive about getting the, you know, the components that we would order no matter where we sited the next mill, those are pretty much locked in with delivery schedules. We're not expecting that to be a delay. It'll be our timing, not, you know, not a vendor-related timing issue. I mean, certainly there could be delays that push it a quarter, but right now we feel good about that. Is there any way to say, let's say, you know, somebody else wanted to order a press, you know, for Siding or for OSB or anything else, what that might look like? Assuming obviously they weren't as proactive as you in the queue as well. If I wanted to get into the Siding business, assuming I knew what I was doing, would I be looking at 2 years plus in terms of equipment? I don't know what I'm doing on that front, so just in case you're worried. Well, they would, you know. If you're gonna do it exactly like we do it, you gotta use the vendors we use, and you would be after us in the queue, at a minimum. You know, a lot of it depends though, the nature of your question. You know, is it a mill conversion or a new mill or whatever? I mean, I think your two years sound would be reasonable, but I mean, that's just right off the top of my head. Yeah. No, I appreciate the patience with the question, Brad. Thank you. And you've talked to this in the past, you know, but Structural Solutions versus structural solutions versus base level OSB, is the target still 75% at some point? In turn, perhaps you've talked about this in the past, is there just a general base level of OSB that you think you need to be to run relative to what you ultimately expect to grow in terms of the Siding business? Great question. 75% is our next target. You know, when in 2017, when we launched our Structural Solutions strategy, we set it at 50%, which we've now exceeded. Now it's on to 75. I do believe that when we get to 75, there'll be a new goal that's greater than 75. I don't believe, George, there's some kinda underlying optimal commodity volume that we would wanna hold on to. There's always gonna be some commodity volume as you change SKUs or start up a mill after maintenance downtime. So I don't, you know, I don't think the number will ever be 0, but we're looking at converting a very high percentage of Structural Solutions over time. Okay. Perhaps you mentioned it, I missed it, but any quick thoughts on how South America's progressing? Anything that you've seen early in the quarter relative to demand and for that matter, more broadly, just the macro in your key markets? Thanks, and I'll turn it over. Yeah. Demand has held up fairly well in South America through some of the political and economic chaos that's going on down there. Chaos might be a little bit strong of a word, but we've really been running to production in our South American operations. You know, there is some pessimism about the economies down there, but we're pretty diverse across countries. We're very diverse on product offering. We do have a fairly healthy export business out of there that we use as the relief valve for that extra capacity. I feel good about us being able to produce to basically, you know, around capacity volumes. What we end up doing is balancing the internal demand to the continent of South America with our export volume, and that does have a margin. You know, that's the. Sure. A margin implication. It's better, higher margin to keep it domestic. I would say the H2, you know, probably not as optimistic as what we saw in the H1. So far, to your question, and so far in the quarter, it's been holding up okay. Appreciate it, Brad. I'll turn it over. Thank you very much. Thank you. I will now turn the call back to Aaron Howald for any closing remarks. Okay. Thank you, everybody. With no more questions, we'll bring the Q2 earnings call for Louisiana-Pacific to a close. Have a great rest of your day, and we'll look forward to speaking again soon. Thank you very much. Ladies and gentlemen, that does end our conference for today. Thank you for your participation. You may now disconnect. Good day.