Q4 2025 Tidewater Renewables Ltd Earnings Call Transcript
Key Points
- Tidewater Renewables Ltd (TDWRF) is set to benefit from the Canadian government's $370 million biofuels production incentive program, which provides nonrepayable cash support at $0.16 per liter for the first 170 million liters produced annually.
- The company supports proposed amendments to Canada's clean fuel regulations, which could enhance its competitive position if implemented.
- Operational synergies and cost savings of $10 million to $15 million are expected from the integration of the Western Pipeline system.
- Tidewater Renewables Ltd (TDWRF) has secured long-term agreements for gas handling and NGL supply, providing significant gas volume to the Brazeau River complex.
- The company is actively progressing its noncore asset sales program, with several significant asset sales expected to be announced soon, potentially unlocking liquidity.
- Tidewater Renewables Ltd (TDWRF) reported a net loss of $13.8 million for the fourth quarter of 2025, a significant increase from the $3.4 million loss in the same period of 2024.
- Adjusted EBITDA was negative $3.8 million for the fourth quarter of 2025, compared to $6.1 million in the fourth quarter of 2024, impacted by equipment repair and lower sales volumes.
- The HDRD complex operated at only 48% of design capacity during the fourth quarter due to a planned turnaround and equipment failure.
- Consolidated net loss attributable to shareholders was $30 million for the fourth quarter of 2025, primarily due to the extended turnaround and absence of an impairment reversal.
- The BRC gas processing facility experienced a decrease in throughput, averaging 102 million cubic feet per day in the fourth quarter compared to 124 million cubic feet per day in the third quarter of 2025.
Good afternoon, ladies and gentlemen, and welcome to the Tidewater fourth quarter 2025 results call. (Operator Instructions) This call is being recorded on March 26, 2026.
I would now like to turn the conference over to Ian Quartly. Please go ahead.
Thanks, Vincent, and welcome, everyone, to the joint conference call for the fourth quarter 2025 results of both Tidewater Midstream Infrastructure Limited and Tidewater Renewables Limited.
Joining me today is our CEO, Jeremy Baines, who will provide an update on operations during the quarter. I will follow with the financial results and 2026 guidance, and then we'll open the line for your questions. This morning, both Tidewater Midstream and Tidewater Renewables reported results for the fourth quarter ended December 31, 2025.
A copy of the news releases, financial statements, MD&As and annual information forms may be accessed on SEDAR+ or on the respective company's website. Before we get started, I'd like to note that
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
