CA - Empire Company Limited (EMLAF) Q3 2025 Earnings Call Transcript

2025-03-13 12:53:05 ET

Empire Company Limited (EMLAF)

Q3 2025 Earnings Conference Call

March 13, 2025 08:30 AM ET

Company Participants

Katie Brine - VP, IR

Michael Medline - President and CEO

Matt Reindel - CFO

Pierre St-Laurent - COO

Conference Call Participants

Irene Nattel - RBC Capital Markets

Chris Li - Desjardins

Tamy Chen - BMO Capital Markets

Vishal Shreedhar - National Bank

Michael Van Aelst - TD Cowen

Mark Petrie - CIBC

John Zamparo - Scotiabank

Presentation

Operator

Good morning, ladies and gentlemen. And welcome to the Empire Third Quarter 2025 Conference Call [Operator Instructions]. This call is being recorded on Thursday, March 13, 2025. And I would now like to turn the conference over to Katie Brine. Thank you. Please go ahead.

Katie Brine

Thank you, Ina. Good morning. 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 Web site at empireco.ca. There is a short summary document outlining the points of our quarter available on our Web site. Joining me on the call this morning are Michael Medline, President and Chief Executive Officer; Matt Reindel, Chief Financial Officer; and Pierre St-Laurent, Chief Operating Officer. 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. Good morning, everyone. Before I jump into the quarter, I want to take a few moments to talk about the other announcement we made earlier this morning. I never like to see a valued colleague leave the fold but when they have made the decision there, I can only feel a sense of happiness for that person. And after six years with the company, the last six as Chief Financial Officer, Matt Reindel will be retiring. As you all know, Matt has been an incredible partner in helping drive Empire's turnaround. He played a critical role in helping business navigate the challenges brought on by the pandemic while also guiding us through a period of high inflation and interest rates with both rigor and a passion for the business. He has been instrumental in building the foundation for our ongoing success. He will be missed by all of us at Empire, but he will fortunately be around for a little while longer. We are fortunate to have found a great new CFO. In May, we will welcome Costa Pefanis as Executive Vice President and Chief Financial Officer. Costa is an experienced and an experienced and immensely capable leader who spent 19 years with Leon's Furniture Limited and was most recently with Green Infrastructure Partners. He will play a critical role in helping drive Empire's results in the years to come. We are grateful that Matt has agreed to stay on for a number of months to work closely with Costa and ensure a seamless transition....

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