Canada · Delayed Price · Currency is CAD Conifex Timber Earnings Call Transcripts
Fiscal Year 2026
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Q2 results show ongoing losses due to curtailments, with net loss at CAD 9.5 million and EBITDA loss improving to CAD 6.3 million. Recovery depends on securing additional funding, resuming two-shift operations, and executing capital projects to achieve positive EBITDA in 2027.
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Q1 2026 saw continued losses due to curtailments and single-shift operations, but sequential improvement in EBITDA and net loss. Management targets positive EBITDA by late 2026 through two-shift operations, cost improvements, and new funding.
Fiscal Year 2025
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Faced with increased duties and tariffs, the company reported a CAD 35.7 million net loss for 2025 but secured new financing and plans to transition to two-shift operations in 2026, aiming for improved cost structure and EBITDA positivity.
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Q3 2025 saw a negative EBITDA of CAD 16.5 million, mainly due to a one-time CAD 12 million duty charge, with regular EBITDA losses improving year-over-year. Liquidity pressures persist from increased U.S. duties and tariffs, but cost-saving measures and a sawmill upgrade aim to position for recovery.
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Q2 2025 saw a $3.2M EBITDA loss due to lower power prices, extended maintenance, and higher duties, but first half EBITDA remained positive. Outlook for H2 2025 is optimistic, with improved power plant performance and government support expected to aid results.
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Q1 2025 net income reached $600,000 with EBITDA of $4.9 million, driven by improved log supply and a two-shift operation. Full-year 2025 EBITDA is projected in the low double digits, despite rising duty rates and ongoing capital projects.
Fiscal Year 2024
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2024 saw reduced EBITDA losses due to cost controls and improved market conditions, with a transition to a green log diet and two-shift operations boosting productivity. Positive EBITDA is expected in early 2025, though tariff risks and legal disputes with BC Hydro remain.
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Q3 2024 saw improved EBITDA losses and higher lumber prices, with strong log supply and cost reductions positioning for a potential return to positive EBITDA in Q4. Plans for a two-shift operation hinge on expanded borrowing, while legal and market uncertainties remain.
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Secured new financing and ended Q2 with strong liquidity, despite negative EBITDA driven by lower lumber prices, power plant downtime, and log shortages. Duty deposits now exceed market cap, and regulatory changes are expected to improve cost structure.