CA - Interfor Corporation (IFSPF) Q4 2023 Earnings Call Transcript
2024-02-09 14:20:18 ET
Interfor Corporation (IFSPF)
Q4 2023 Earnings Conference Call
February 9, 2024 11:00 AM ET
Company Participants
Ian Fillinger – President and Chief Executive Officer
Rick Pozzebon – Executive Vice President and Chief Financial Officer
Bart Bender – Senior Vice President-Sales and Marketing
Conference Call Participants
Ketan Mamtora – BMO Capital Markets
Matthew McKellar – RBC Capital Markets
Hamir Patel – CIBC Capital Markets
Sean Steuart – TD Securities
Ben Isaacson – Scotiabank
Presentation
Operator
Good morning. My name is Jenny, and I will be your conference operator today. At this time, I would like to welcome everyone to the Interfor Quarterly Analyst Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]
Thank you. Mr. Fillinger, you may begin your conference.
Ian Fillinger
Thank you, operator, and thank you everyone for joining us this morning. With me on the call, I have Rick Pozzebon, Executive Vice President and Chief Financial Officer and Bart Bender, Senior Vice President of Sales & Marketing. I'll start off by providing a brief recap of our quarter, provide some comments on the market outlook and several strategic initiatives before passing the call to Rick and Bart.
Turning to our quarter, our adjusted EBITDA was a loss of $51.4 million during a very challenging quarter that was impacted by weak pricing. To be clear, current pricing is generally below industry breakeven levels, which is simply not sustainable for any extended period of time.
With that being said, we have a more positive outlook for the year ahead than we did a year ago. We feel housing demand has been relatively strong in the face of rising interest rates. Rates appear to have peaked and builder sentiment is improving and R&R remains steady....
Interfor Corporation (IFSPF) Q4 2023 Earnings Call Transcript