Acadian Timber (TSE:ADN) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Acadian Timber Corp. has reported a strong start to 2024 with their first significant sale of carbon credits, a renewable energy lease option, and the purchase of additional timberlands. The company saw a surge in their first-quarter financials, with Adjusted EBITDA reaching $10.6 million, and Free Cash Flow doubling to $7.8 million, supporting a dividend payout of $0.29 per share. Safety remains a top priority with a good record this quarter, and further carbon credit sales are anticipated before Q3 of 2024.
For further insights into TSE:ADN stock, check out TipRanks’ Stock Analysis page.