Conifex Timber Inc. (CFF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for signing by. This is the conference operator. Welcome to the Confex Timber Inc. First Quarter 2026 Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may reach an operator by pressing star then 0. I would now like to turn the conference over to Ken Shields, CEO. Please go ahead. Well, thank you, and good morning, everyone, and welcome to this call covering the CONIFEX results for Q1 of 2026. As mentioned, I'm the Chairman and CEO of CONIFEX, and I'm pleased to be joined today by our CFO, Trevor Pruden, and our President, Andrew McClellan. Let's deal quickly with the housekeeping item. We will be making forward-looking statements and references to non-IFRS measures, and therefore call your attention to the warning statement set out on the first two pages of the MD&A materials that we've released this morning. On our most recent call with you in late March, we made the point that we viewed 2026 as a transition year for CONIFAC. We expected curtailments and single-shift operations would produce EBITDA losses for us in the first half of 2026. We also disclosed our intention to do everything in our power to achieve steady-state C-shift operations and to generate positive EBITDA prior to the end of 2026. As a result of curtailments in our lumber and power business, we incurred a net loss of $9.4 million or 23 cents per share in Q1, and that compares to a higher net loss of $11.4 million in the preceding quarter. However, it trails the year earlier net income of two cents a share that we ...