Acadian Timber Corp. generated sales of $24.8 million in the Q1 2025, compared to $28.8 million in the prior year period. The Q1 2024 included $4.9 million in carbon credit sales, while no carbon credit sales occurred in the Q1 2025. Acadian generated $3.0 million of Free Cash Flow during the Q1 2025 and declared dividends of $5.2 million or $0.29 per share to our shareholders. Acadian’s balance sheet remains solid with $17.6 million of net liquidity as at March 29, 2025, which includes funds available under its credit facilities.
Adjusted EBITDA was $4.7 million during the Q1 2025 compared to $10.6 million in the prior year period. Included in the Adjusted EBITDA in the prior year period was $4.1 million related to carbon credit sales. Adjusted EBITDA margin for the quarter was 19% compared to 37% in the prior year period.
Net income for the Q1 2025 totaled $3.7 million, or $0.21 per share, compared to net income of $6.0 million, or $0.35 per share in the same period of 2024. Lower operating income and lower non-cash fair value adjustments were partially offset by lower income tax expense, as compared to the prior year period.
“Regional demand and pricing for our products remained stable during the Q1 2025, despite heightened levels of economic uncertainty. However, warm weather and limited contractor availability in Maine impacted our ability to deliver to our customers,” commented Adam Sheparski, President and CEO. “The establishment of our own logging operations in Maine during the Q1 reduces our dependence on external contractors going forward and we look forward to catching up on our planned volumes over the course of the rest of the year."
Acadian Timber Corp. is one of the largest timberland owners in Eastern Canada and the Northeastern U.S. and has a total of approximately 2.4 million acres of land under management.
