Very different conceptions of God, there.
If you mean that is a very different conception of God between what the Catholic church and the Protestant churches have taught historically. Yes, different conceptions of God. Joseph Smith and other prophets of The Church of Jesus Christ of Latter Day Saints have taught that creation was not from nothing but that matter, which we and God and everything else is made up of is eternal.
"Man was also in the beginning with God. Intelligence, or the light of truth, was not created or made, neither indeed can be" (D&C 93:29)
Addressing the issue of creation ex nihilo, Joseph Smith asserted in one of his final sermons: "Now, the word create…does not mean to create out of nothing; it means to organize; the same as a man would organize materials and build a ship. Hence, we infer that God had materials to organize the world out of chaos-chaotic matter, which is element…. Element had an existence from the time [God] had. The pure principles of element are principles which can never be destroyed; they may be organized and reorganized, but not destroyed. They had no beginning and can have no end" (HC 6:308-309).
Extending the concept of the eternal nature of matter to the substance of spirit, Joseph Smith revealed, "There is no such thing as immaterial matter. All spirit is matter, but it is more fine or pure, and can only be discerned by purer eyes; we cannot see it; but when our bodies are purified we shall see that it is all matter" (D&C 131:7-8).
Parley P. Pratt, an apostle and close associate of Joseph Smith, wrote, "Matter and spirit are the two great principles of all existence. Everything animate and inanimate is composed of one or the other, or both of these eternal principles…. Matter and spirit are of equal duration; both are self-existent, they never began to exist, and they never can be annihilated…. Matter as well as spirit is eternal, uncreated, self existing. However infinite the variety of its changes, forms and shapes; …eternity is inscribed in indelible characters on every particle" (HC 4:55).