Interfor Corporation (IFP) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Sylvie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Interfor Analyst Conference Call. Note that all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. And if you would like to ask a question during this time, simply press star then number one on your telephone keypad. If you would like to withdraw your question, please press star followed by two. Thank you. Mr. Fillinger, you may begin your conference. Thank you, operator, and thank you, everyone, for joining us this morning. With me on the call, I have Rick Pazabon, Executive Vice President and Chief Financial Officer, and Bart Bender, Senior Vice President of Sales and Marketing. I'll start off by providing a brief recap of 2024 and our Q4 quarter before passing the call to Rick and Bart. 2024 was a year where we again strengthened our company and our portfolio. During another down market year which saw persistent low lumber prices, we continued delivering on the controllables, achieving positive operating cash flow of $144 million. I thought a few notables were worth mentioning. Number one, solid synergy achievements were made with our log and lumber inventory targets, achieving year-over-year reductions of 25% and 16% on a value basis, respectively. Number two, we completed a new planer project at our Thomason, Georgia mill, which met all KPI targets within 30 operating days. Number three, we achieved mill conversion cost reductions across most regions even with significant market-related curtailments. Number four, our employee turnover rates improved across our platform. Number five, we continued the divestiture of our BC Coast tenures and execute...