Canada · Delayed Price · Currency is CAD KP Tissue Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw strong adjusted EBITDA growth of 25% year-over-year to CAD 90.6 million, driven by robust U.S. sales and lower pulp prices, while Canadian revenue declined due to market softness and consumer trade-down. The outlook for Q3 is stable, with continued focus on margin delivery, brand investment, and monitoring of tariffs and input costs.
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Q1 2026 saw adjusted EBITDA rise 14.6% to CAD 86.9 million on stable revenue, with margin gains from lower pulp and warehousing costs. U.S. capacity is expanding with a new Memphis line, and a western U.S. TAD plant is planned for late 2028. No new price increases are currently announced.
Fiscal Year 2025
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Q4 2025 saw strong revenue and margin growth, with Adjusted EBITDA up 26% year-over-year and net income turning positive. Market share gains, operational improvements, and strategic investments position the business for continued growth in 2026.
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Q3 2025 saw robust revenue and EBITDA growth, driven by strong consumer and away-from-home performance, premium product expansion, and operational improvements. The balance sheet was further deleveraged, and a new U.S. tissue plant was announced to support future growth.
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Adjusted EBITDA rose 11% year-over-year to $72.5 million on 5% revenue growth, with strong consumer segment gains and U.S. expansion offsetting softer away-from-home sales. Q3 2025 EBITDA is guided to $75–$80 million, supported by efficiency investments and margin management.
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The AGM highlighted record revenue and EBITDA growth in 2024, strong Q1 2025 results, and successful expansion of the Sherbrooke plant. Directors and auditors were re-elected with overwhelming support, and strategic focus remains on sustainability, brand growth, and managing tariff risks.
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Q1 2025 saw double-digit revenue and EBITDA growth, driven by strong sales in both Canada and the U.S., improved pricing, and operational efficiencies. The Sherbrooke expansion is on track to boost margins, while contingency plans address trade and supply risks.
Fiscal Year 2024
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Record 2024 revenue and adjusted EBITDA were driven by strong U.S. growth and operational improvements, despite a net loss in Q4 due to FX and finance costs. One-third of revenue faces tariff risk, with mitigation plans in place and new capacity investments under evaluation.
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Double-digit revenue growth in Q3 2024 was driven by higher sales and favorable pricing, but adjusted EBITDA declined due to increased input costs. The Sherbrooke plant expansion was completed, boosting capacity, and market share gains were achieved in key categories.
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Q2 2024 saw strong revenue and Adjusted EBITDA growth, driven by higher sales, improved mix, and pricing, despite record pulp costs and a resolved labor disruption. Price increases are set for September, and the Sherbrooke expansion remains on track to boost future margins.
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The meeting featured strong 2023 financial results, with record revenue and EBITDA, and outlined strategic growth initiatives including major manufacturing expansions. Key votes passed with large majorities, and management addressed challenges such as rising pulp prices and market competition.