Acadian Timber Corp. (ACAZF) CEO Adam Sheparski on Q4 2021 Results - Earnings Call Transcript

Feb. 10, 2022 4:54 PM ETAcadian Timber Corp. (ACAZF), ADN:CA
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Acadian Timber Corp. (OTCPK:ACAZF) Q4 2021 Earnings Conference Call February 10, 2022 1:00 PM ET

Company Participants

Susan Wood - Chief Financial Officer

Adam Sheparski - President and Chief Executive Officer

Conference Call Participants

Andrew Kuske - Credit Suisse

Paul Quinn - RBC Capital Markets

Operator

Thank you for standing by. Welcome to the Acadian Timber Corporation’s Fourth Quarter 2021 Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, today’s program is being recorded. And now, I would like to introduce your host for today’s program, Susan Wood, Chief Financial Officer. Please go ahead.

Susan Wood

Thank you, operator. Good afternoon, everyone and welcome to Acadian Timber’s fourth quarter conference call. With me on the call today is Adam Sheparski, Acadian’s President and Chief Executive Officer.

Before discussing Acadian’s results, I will first remind everyone that in discussing our fourth quarter and 2021 financial and operating performance, the outlook for 2022 and responding to your questions, we may make forward-looking statements. These statements are subject to known and unknown risks and future results may differ materially. For further information on our known risk factors, I encourage you to review our news release and MD&A, which are available on SEDAR and on our website at acadiantimber.com.

I will begin with some comments on our financial results for the fourth quarter and year ended December 31, 2021. Then Adam will add some further remarks on the business, market conditions and the outlook for 2022.

Sales for the fourth quarter were $25.9 million, an increase of $1 million when compared to $24.9 million in the prior year period. The weighted average selling price excluding biomass increased 7% year-over-year, benefiting from favorable operating conditions and increased sawlog pricing. Sales volume, excluding biomass decreased 7% due to lower hardwood pulpwood sales. Operating costs of $19.8 million in the quarter

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