Tidewater Renewables Ltd (TSX:LCFS)

Q3 2025 Tidewater Renewables Ltd Earnings Call Transcript

Nov 13, 2025 / 05:00 PM GMT

Release Date Price: C$4 (-8.88%)

Transcript

Key Points

Positve

Tidewater Renewables Ltd (TSX:LCFS) successfully closed the acquisition of the Western Pipeline, enhancing their strategic asset portfolio.
The company is well-positioned to benefit from the Canadian government's $370 million biofuels production incentive program starting January 2026.
Operational performance at the HDRD complex was strong, with throughput averaging 97% of design capacity before scheduled maintenance.
The company has optimized its turnaround schedule, extending catalyst life to 2.5 years, which maximizes production during the incentive program period.
Tidewater Renewables Ltd (TSX:LCFS) has increased contracted offtakes to cover 100% of forecasted renewable diesel production for the remainder of 2025.

Negative

Tidewater Renewables Ltd (TSX:LCFS) reported a net loss of $1 million in Q3 2025, a decline from a net income of $13 million in Q2 2025.
The turnaround at the HDRD complex was extended by two weeks due to unexpected fouling, impacting operational timelines.
There was a two-week unplanned outage in October due to an equipment anomaly, affecting production levels.
Consolidated net loss for Tidewater Midstream was $34.1 million in Q3 2025, an increase from the $16.3 million loss in Q2 2025.
The Graham River gas plant remains temporarily curtailed due to record low natural gas prices, affecting overall gas processing capacity.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LCFS.TO - Tidewater Renewables Ltd
Q3 2025 Tidewater Renewables Ltd Earnings Call
Nov 13, 2025 / 05:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon ladies and gentlemen and welcome to the Tidewater Midstream and Infrastructure Limited and Tidewater Renewables Limited 3rd quarter 2025 financial results conference call. At this time all lines are in less and only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call we require immediate assistance, please press 0 for the operator. This call is being recorded on Thursday, November 13th of 2025.

I would now like to turn the conference over to Ian Corley, Chief Financial Officer. Please go ahead, sir.

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Unidentified_2 [2]
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