Operator

Good day, and thank you for standing by. Welcome to the Acadian Timber Q1 2026 Analyst Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Susan Wood, Chief Financial Officer. Please go ahead.

Susan Wood
Chief Financial Officer

Thank you, operator. Good afternoon, everyone, and welcome to Acadian Timber's First Quarter Conference Call. With me on the call today is Malcolm Cockwell, Acadian's Chair and Interim President and Chief Executive Officer.

Before discussing Acadian's results, I will first remind everyone that in discussing our first quarter financial and operating performance, the outlook for the remainder of 2026 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'll begin by outlining the financial and operational highlights for our first quarter ended March 28, 2026. Malcolm will then provide additional comments on our leadership team, our outlook for the remainder of 2026, the dividend and a special milestone achieved by Acadian this year. From an operational standpoint, Q1 2026 was a quarter of steady execution and continued progress. Our operations in New Brunswick performed consistently, while results in Maine improved as the efficiency of our internal harvesting operations continued to advance. Our markets remained resilient despite ongoing challenges, including tariffs and weak demand in certain end-use markets. For Q1 2026, Acadian generated $4.8 million of adjusted EBITDA