Key Points
-
Interested in Acadian Timber Corp.? Here are five stocks we like better.
-
Third-quarter results improved: Adjusted EBITDA rose to CAD 5 million from CAD 3.5 million, while net income increased to CAD 4.4 million, or CAD 0.23 per share. A 17% increase in average selling prices and stronger Maine operations offset a 14% decline in sales volumes.
-
Maine returned to profitability after Acadian restructured its harvesting operations, with segment EBITDA reaching CAD 1.3 million versus a CAD 500,000 loss a year earlier. New Brunswick performance weakened as softwood pulpwood demand, customer inventories and delivery constraints reduced volumes.
-
Acadian expects New Brunswick inventories and deliveries to normalize in the fourth quarter, while continuing to improve Maine production and costs. The company ended the quarter with CAD 16.4 million in net liquidity and plans to refinance CAD 45.3 million of debt maturing in March 2027.
Acadian Timber (TSE:ADN) reported higher third-quarter earnings as improved harvesting operations in Maine and stronger product pricing offset lower sales volumes in New Brunswick, where weak softwood pulpwood demand and elevated customer inventories constrained deliveries.
The company generated adjusted EBITDA of $5 million and net income of $4.4 million, or $0.23 per share, for the quarter ended Sept. 26, 2026. That compared with adjusted EBITDA of $3.5 million, net income of $2.9 million and earnings of $0.16 per share in the prior-year period. Revenue increased to $24 million from $23 million.
→ Heavy Metal: Why Nucor Could Be an Overlooked AI Infrastructure Winner
Chief Financial Officer Susan Wood said timber sales were relatively unchanged from a year earlier. A 17% increase in weighted-average selling prices, excluding biomass, was offset by a 14% decrease in sales volumes. Higher prices reflected stronger end-use markets and increased fuel surcharges, she said.
Timber services revenue rose by $800,000, driven by increased activity for neighboring landowners in Maine. Operating costs and expenses increased by $200,000 year over year, reflecting higher New Brunswick cost of sales per cubic meter, land management costs and silviculture spending, partly offset by lower total volumes and lower per-unit costs in Maine.
Maine Operations Return to Positive EBITDA
→ Boeing Got Its MAX 10 Approval, But Q3 Delivered a Reality Check
Acadian’s Maine segment showed a substantial improvement from the prior year after the company restructured its internal harvesting operations beginning in the second quarter. Freehold sales volumes in Maine, excluding biomass, rose 54% from the third quarter of 2025, while cost of sales per cubic meter fell 39%.
