The following is a summary of the Acadian Timber Corp. (ACAZF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Acadian reported Q1 sales of $28.8 million, a substantial increase from the previous year, thanks to their first significant sale of carbon credits and increased timber sales volumes.

• Operating costs rose to $21.2 million due to costs related to carbon credit sales and higher timber sales volumes, and adjusted EBITDA improved to $10.6 million.

• Net income totalled $6 million or $0.35 per share, slightly more than the $5.6 million or $0.33 per share from the previous year.

• The company declared dividends of $5 million, or $0.29 per share.

Business Progress:

• Acadian made a significant sale in voluntary carbon credits and is continuing to register additional credits.

• The company executed a lease agreement for the development of a solar-powered facility on its Maine Timberland, indicating a move towards renewable energy.

• It also completed the acquisition of considerable new timberland in New Brunswick at a competitive price.

• The company has active plans for refinancing a portion of its long-term debt ahead of its 2025 maturity date.

• They expect steady demand and stable prices for their products for the rest of the year, thanks to their increasing contractor capacity.

• The company displayed strategic planning in buying waterfront lands, which are intended to be sold off over the next few years.

More details: ACADIAN TIMBER CORP IR

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