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GreenFirst Forest Products (ICLTF)
OTHER OTC:ICLTF
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 19, 2019
|% Change Since: -8.15%
|Next Earnings Date:Aug 13, 2019
Earnings Call Sentiment|Neutral
The earnings call reflected a mix of positive developments, such as the completion of the Kap Paper spin-out and reduced duty rates, alongside challenges like low lumber pricing and a net loss from continuing operations. Although there were notable achievements in cost reduction and production efficiency, the market conditions and demand remain challenging.Company Guidance
During the Q3 2024 earnings call for GreenFirst Forest Products, CEO Joel Fournier provided comprehensive guidance on the company's strategic direction and financial outlook. Key metrics highlighted include a reduction in the duty rate to 14.4% from 20.2%, which could potentially recover USD 14.2 million (CAD 19.2 million) in duties paid in 2022. The company plans to invest approximately $50 million in 2025 and 2026, aiming to boost EBITDA by $18 million annually, reduce costs by 10%, and increase capacity by 20%. GreenFirst finished Q3 with net income from continuing operations, excluding Kap Paper, at $14.8 million, and adjusted EBITDA from continuing operations at $15.9 million, a significant improvement from negative $6.1 million in Q2 2024. The company recorded net sales of $70.8 million, up from $69.6 million in the previous quarter, driven by higher shipment volumes despite lower prices. Cost improvement efforts and strategic capital expenditures are predicted to lower the EBITDA breakeven point by 15% post-Phase 1 of their strategy.Spin-Out of Kap Paper Completed
The spin-out of Kap Paper was completed in November as planned, allowing GreenFirst to focus solely on its lumber operations.
Reduction in Duty Rate
The U.S. Department of Commerce's final determination reduced the duty rate from 20.2% in 2022 to 14.4%, resulting in a recovery of approximately USD 14.2 million or CAD 19.2 million for duties paid in 2022.
Positive Adjusted EBITDA
Adjusted EBITDA from continuing operations for Q3 2024 was positive $15.9 million, compared to a negative $6.1 million in Q2 2024.
Increased Lumber Pricing
Lumber pricing improved from $338 per thousand FBM in July to $445 by the end of Q3, resulting in positive EBITDA for the mills.
Production Records at Mills
Production records were achieved at Chapleau and Kapuskasing mills, with Kapuskasing reaching its highest production levels for August and September.
Successful Cost Reductions
Cost of sales in the lumber segment improved by approximately 16% compared to Q3 of the previous year, with overall cost reductions achieved despite high inflation.
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ICLTF Earnings History
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
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ICLTF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $4.05 | $3.94 | -2.72% |
| Aug 12, 2024 | $2.64 | $2.63 | -0.38% |
| May 14, 2024 | $4.97 | $4.53 | -8.85% |
| Mar 14, 2024 | $5.77 | $5.34 | -7.45% |
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.
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FAQ
When does GreenFirst Forest Products (ICLTF) report earnings?
GreenFirst Forest Products (ICLTF) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is GreenFirst Forest Products (ICLTF) earnings time?
GreenFirst Forest Products (ICLTF) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ICLTF EPS forecast?
Currently, no data Available
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