Interfor Q1 Earnings Call Highlights

Key Points

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• Interfor posted a beardown Q1 turnaround, with EBITDA rising to CAD 31 cardinal from a antagonistic effect successful the anterior quarter. The betterment was driven by higher lumber prices crossed each regions and little conversion costs.

• The institution is making advancement connected large outgo cuts, targeting CAD 80 cardinal successful net betterment implicit 2 years done a manufacturing outgo simplification program. Management said aboriginal results are already helping trim costs and amended productivity.

• Interfor’s caller Thomaston, Georgia mill is ramping up of plan and is expected to go a apical performer successful the portfolio. The institution besides expects moving superior to unwind and leverage to amended arsenic superior spending falls and divestiture proceeds travel successful aboriginal this year.

Interfor (TSE:IFP) reported a crisp sequential betterment successful first-quarter 2026 results, with absorption pointing to higher lumber prices, little conversion costs and aboriginal benefits from a company-wide outgo simplification program.

President and CEO Ian Fillinger said the lumber shaper generated EBITDA of CAD 31 cardinal successful the quarter, up CAD 60 cardinal from the 4th fourth of 2025. He said the betterment was driven by lumber terms gains crossed each 5 regions, ranging from 5% to 20%, arsenic good arsenic little conversion costs contempt wintertime weather.

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“Q1 delivered a meaningful betterment compared to the backmost fractional of 2025,” Fillinger said, portion noting that duties, tariffs and logistics constraints, peculiarly successful the U.S. South, remained elevated.

Higher Prices and Better Costs Lift Results

Executive Vice President and Chief Financial Officer Mike Mackay said Interfor posted affirmative adjusted EBITDA of CAD 31 cardinal aft 2 consecutive quarters of antagonistic EBITDA. He said realized selling prices, aft duties and tariffs, were astir 8% higher than successful the 4th quarter, with gains successful each regions partially offset by a afloat 4th of Section 232 tariffs that took effect past October.

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Production costs per portion improved by astir 2.5% from the anterior quarter, continuing outgo gains recorded successful the 4th quarter. Mackay said the betterment reflected higher accumulation volumes, reduced marketplace downtime and productivity gains tied to Interfor’s manufacturing outgo simplification initiatives.

Production volumes accrued by conscionable implicit 100 cardinal committee feet, oregon 14%, from the 4th quarter. Mackay said overmuch of that summation came from the U.S. Northwest, wherever operations had taken important marketplace downtime successful the erstwhile quarter.