CA - Empire Company Limited (EMLAF) Q3 2024 Earnings Call Transcript

2024-03-14 15:09:11 ET

Empire Company Limited (EMLAF)

Q3 2024 Earnings Conference Call

March 14, 2024 12:00 PM ET

Company Participants

Katie Brine – Vice President-Investor Relations

Michael Medline – President and Chief Executive Officer

Matt Reindel – Chief Financial Officer

Pierre St-Laurent – Chief Operating Officer

Conference Call Participants

George Doumet – Scotiabank

Irene Nattel – RBC Capital Markets

Mark Petrie – CIBC

Michael Van Aelst – TD Cowen

Vishal Shreedhar – National Bank

Chris Li – Desjardin

Tamy Chen – BMO

Presentation

Operator

Good afternoon, ladies and gentlemen, and welcome to the Empire Third Quarter 2024 Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] This call is being recorded on Thursday, March 14, 2024.

I would now like to turn the conference over to Katie Brine, VP of Investor Relations. Please go ahead.

Katie Brine

Thank you, Joanna. Good afternoon and thank you all for joining us for our third quarter conference call. Today, we will provide summary comments on our results and then open the call for questions. This call is being recorded and the audio recording will be available on the company's website at empireco.ca. There is a short summary document outlining the points of our quarter available on our website.

Joining me on the call this afternoon are Michael Medline, President and Chief Executive Officer; Matt Reindel, Chief Financial Officer; Pierre St-Laurent, Chief Operating Officer; and Doug Nathanson, Chief Development Officer and General Counsel.

Today's discussion includes forward-looking statements. We caution that such statements are based on management's assumptions and beliefs and are subject to uncertainties and other factors that could cause actual results to differ materially. I refer you to our news release and MD&A for more information on these assumptions and factors.

I will now turn the call over to Michael Medline.

Michael Medline

Thanks, Katie, and good afternoon, everyone. In Q3, we saw a continuation of the trends experienced in Q2 with some customers pulling back spending, as a result of continued economic uncertainty and pressure on Canadians wallets. But when you peel the onion and work through some of the complexities, we delivered slightly better results than the prior quarter with positive comps and strong margin control. This is a different Empire Company....

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