The earnings call reflects a challenging quarter for GreenFirst, with significant negative impacts from increased duty rates, market headwinds, and production issues at Chapleau. However, there are positive developments such as federal support, SG&A cost control, and capital improvements at Chapleau expected to benefit future performance.

Company Guidance

During GreenFirst's Q3 2025 earnings call, the company reported a negative EBITDA of $47.2 million, primarily due to a $33.8 million duty adjustment from 2023, an $8.2 million NRV provision as lumber prices dropped from $508 to $420 per thousand board feet, and a $4.6 million downtime cost at their Chapleau mill for a new saw line installation. These adjustments affected the cost of goods sold, but excluding them, the company would have approached breakeven EBITDA. Sales volume decreased to 93 million board feet from 109 million in Q2, partly due to the installation downtime and market hesitancy amid a duty rate increase to 35.16% and a new 10% tariff on U.S. exports. Despite these challenges, SG&A expenses were on target at $32 per thousand board feet, and the company saw an increase in excess liquidity from $22 million last year to $27 million. GreenFirst is optimistic about future cost improvements and revenue growth from the Chapleau upgrades, with full benefits expected by Q1 2026. The company is also exploring federal support programs to mitigate duty and tariff impacts.

SG&A Expenses Below Target

Selling, General, and Administrative expenses remained on target at $32 per thousand board feet in Q3, below both last year and the year-to-date average.

Chapleau Mill Capital Improvements

The installation of a new saw line at Chapleau, along with a new planer mill and major upgrades to the boiler and cogeneration plant, are expected to improve mill profitability with a payback period of under 3 years.

Federal Support Program for Softwood Lumber Industry

The company anticipates benefiting from the Canadian federal support program, which includes $700 million in loan guarantees and $500 million for market diversification.

Increase in Drying Capacity

The cogeneration and boiler modifications at Chapleau sawmill have already increased drying capacity by around 10%.

Improved Cash Position

Excess liquidity improved from $22 million last year to $27 million this year, with continued tight cash management.

GreenFirst Forest Products (ICLTF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ICLTF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 12, 2026	2025 (Q4)	- / -	-1.048	―	―	―
Nov 11, 2025	2025 (Q3)	- / -1.81	0.057	-3272.50% (-1.87)
Aug 12, 2025	2025 (Q2)	- / -0.30	-0.547	44.72% (+0.24)
May 14, 2025	2025 (Q1)	- / 0.03	-0.547	105.35% (+0.58)
Mar 14, 2025	2024 (Q4)	- / -1.05	-0.82	-27.72% (-0.23)
Nov 12, 2024	2024 (Q3)	- / 0.06	0.068	-16.67% (-0.01)
Aug 12, 2024	2024 (Q2)	- / -0.55	-0.341	-60.13% (-0.21)
May 14, 2024	2024 (Q1)	- / -0.55	-0.752	27.30% (+0.21)	―
Mar 14, 2024	2023 (Q4)	- / -0.82	-1.025	19.96% (+0.20)
Nov 13, 2023	2023 (Q3)	0.18 / 0.07	-0.888	107.70% (+0.96)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ICLTF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 11, 2025	$1.60	$1.65	+3.12%
Aug 12, 2025	$2.16	$2.25	+4.17%
May 14, 2025	$2.90	$2.90	0.00%
Mar 14, 2025	$3.00	$3.09	+3.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does GreenFirst Forest Products (ICLTF) report earnings?

GreenFirst Forest Products (ICLTF) is schdueled to report earning on Mar 12, 2026, After Close (Confirmed).

What is GreenFirst Forest Products (ICLTF) earnings time?

GreenFirst Forest Products (ICLTF) earnings time is at Mar 12, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

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