Cascades Inc. (CAS) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

We are also updating the expected delivery timing of our objectives from the end of the third quarter to early 2027. Although interest in the assets remains healthy, prevailing market conditions and the terms available for certain transactions have not aligned with our value expectations. In July 2026, we extended the maturities of the GreenPak and Cascades credit facilities by one year to 2029 and 2030 respectively. We also extended the maturity of our $260 million U.S. dollar term loan originally maturing in December 2027 to July 2031. These transactions were completed on the same financial terms. Financial ratios and information regarding maturities are detailed on slide 21. Additional information and analysis can be found on slide 25 through 33 of the presentation. With that, I will turn the call back to Hugues for a few closing remarks before we open the line for questions. Hugues? Thank you, Allan. Provide our outlook for Q3 on slide 22. Including the potential impact of the announced tariffs, we expect sequential improvement in our consolidated results. This is driven by seasonally higher volume and ongoing selling price increase initiatives in both packaging and tissue. Supported by our ongoing profitability improvement program, we now expect annual run rate adjusted EBITDA to exceed 600 million during the second half of 2026. The implementation of previously announced selling price increases in both packaging and tissue is progressing as planned. In packaging, demand for paper rolls remain very strong. Earlier this week, we announced additional price increases of $110 per ton on liner board and white paper grades, and $140 per ton on medium. These new prices will become effective on September 8th. We expect to begin seeing a positive impact from these increa...