Interfor Corporation (IFP) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Joanna, and I will be your conference operator today. Welcome to Interfor Corporation's first quarter 2026 results conference call. As a reminder, all participants are in listen-only mode today, and the conference is being recorded. Following prepared remarks, there will be an opportunity for analysts to ask questions. During this conference call, Interfor's representatives may make forward-looking statements within the meaning of applicable securities laws, additional information regarding the risk Uncertainties and assumptions of such statements can be found in Interport's most recent press release and MD&A. I would now like to turn the call over to Mr. Ian Fellinger, Interport's president and CEO. Mr. Fellinger, please go ahead. Thank you, operator, and good morning, everyone. Joining me today is Mike McKay, our executive vice president and chief financial officer. We're both calling in from our Peachtree City office in Georgia, where earlier this week we toured our completed strategic project, the fully operational Thomaston Mill. I'll begin with an overview of the quarter, provide an update on Thomaston, outline our cost reduction and operational priorities, and share our near-term and medium-term outlook. Mike will then talk you through the quarter in more detail, including segment performance, working capital, and capital allocation. Turning to our quarterly overview, Q1 delivered a meaningful improvement compared to the back half of 2025. We reported EBITDA of $31 million, up $60 million from Q4, driven by higher lumber prices across all five regions, up 5% to 20%, and lower conversion costs, despite winter weather conditions. This performance came even as duties, tariffs, and logistical constraints, particularly in the US South, rema...