Conifex Timber Inc. (CFF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the ConEffects Timber Inc. Third Quarter 2025 Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ken Shields, Chairman and CEO. Thank you. You may begin. Okay. Well, good morning, everyone, and welcome to Our call covering our third quarter and nine-month results for 2025. Our President and Chief Operating Officer, Andrew McClellan, on a lumber trade mission, and he's in Korea, and with the difference in time zones, and scheduled, he's unable to join us. But Chief Financial Officer Trevor Pruden is here with me, and both of us look forward to responding to any questions shareholders and analysts may have after we run through these prepared remarks. Let's quickly deal 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 statements that are disclosed on pages one and two of the MD&A that we released earlier this morning. In the third quarter of 2025, the negative EBITDA we reported of $16.5 million was impacted by a one-time non-cash charge of $12 million for duty deposit underpayments on 2023 lumber exports to the U.S. Excluding this one-time item, our regular EBITDA was negative by just over 4.5 million after writing down our quarter-end inventories by 1.2 million. After deducting the positive EBITDA we achieved in the opening six months of 2025, our regular EBITDA was negative by 2.8 million for the nine-month period. That year-to-date EBITDA loss represents a ...