Cascades Inc. (CAS) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

1.9%, slightly below the industry's comparable of 1.6% decrease. Just a little bit, they also decreased 6% year-over-year for the same reason I just explained. These impacts more than offset selling price and raw material costs tailwinds. Moving now to our tissue segment. Sales decreased by 7% sequentially, reflecting usual seasonality. To this end, sequential shipments in the away-from-home market decreased 10%, while retail shipments decreased by 3%. I just said a bid of $33 million decreased 21% sequentially. This level was slightly below forecast due to higher operating costs following important cost pressure, most notably coming from transportation and fuel. Lower volumes were expected due to usual seasonality. These impacts were partially offset by benefits from lower raw material costs and higher selling prices. Over-year sales increased 4%. This was driven by an 11% increase in retail product shipments and a 6% increase in shipments of away-from-home, underscoring the growing traction of our commercial initiatives. Adjusted EBITDA decreased 11% from last year, with benefits from raw material costs, volume, and higher selling prices more than offset by operating costs and wins. I'll now pass the call to Alan, who will briefly discuss some of the financial highlights. Alan? Good and good morning, everyone. So let's start with the specific items recorded during the quarter, which impacted operating income by $34 million on slides 14 and 15. Main items were gains totaling $49 million from the sale of assets in Canada, reflecting the company's ongoing optimization initiatives. We're also recording the first quarter, $8 million of implement charges related to a previously closed facility in the U.S., 3 million of restructuring costs related to saving initiative, an...