The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Derek Lessard - TD Cowen - Analyst
: Good morning, Linda and Kristie. And congratulations, both on the quarter and a year, pretty impressive job, given the operating environment.
Question: Derek Lessard - TD Cowen - Analyst
: Linda, I know you talked briefly maybe about the geopolitical situation. I think that was maybe to say that you have no tariff implications in your
opening remarks. But maybe I'd like to get your view maybe on the Hospitality side of the business as it relates potentially to -- or maybe to a
potential bump in Canada and maybe the UK, just given the recent political backdrop?
Question: Derek Lessard - TD Cowen - Analyst
: Okay. No, that's fair, Linda. And maybe just -- maybe another politically based question, but I was curious if you've given any thought to what a
dropping of the carbon tax in Canada could mean -- potentially mean for you guys?
Question: Derek Lessard - TD Cowen - Analyst
: Okay. Thank you. I'll greet you congratulations again.
Question: Michael Glen - Raymond James Ltd. (Canada) - Analyst
: Good morning. Kristie, can you remind us for the hedges over in the UK, the impact? Is that like -- how that plays out in 2026 versus 2025.
Question: Michael Glen - Raymond James Ltd. (Canada) - Analyst
: At 0.5% on a consolidated basis?
Question: Michael Glen - Raymond James Ltd. (Canada) - Analyst
: Okay. And then just going through the Healthcare organic growth in Canada, I know you don't break it out. It does feel like it has been -- and I
apologize if this is wrong, but it does feel like it has been a lower figure recently. I'm just wondering if there's anything impacting Healthcare organic
in Canada. And do you expect Healthcare organic in Canada to move higher in the coming year?
Question: Michael Glen - Raymond James Ltd. (Canada) - Analyst
: Okay. And then Kristie, can you just repeat the metric? You said that excluding the leases, leverage was 2.2 times exiting the quarter.
Question: Michael Glen - Raymond James Ltd. (Canada) - Analyst
: On a pro forma basis. And can you remind us what the comparable figure was in Q3, if you have it in front of you?
Question: Justin Keywood - Stifel Canada - Analyst
: Good morning. Thanks for taking my call.
Question: Justin Keywood - Stifel Canada - Analyst
: Just to round out the tariff discussion, any impact as far as the linens? Is that subject to potential tariffs?
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Question: Justin Keywood - Stifel Canada - Analyst
: Okay. Thank you. And then on the discussion of renewals, any contracts that are up for renewal for K-Bro or competing opportunities?
Question: Justin Keywood - Stifel Canada - Analyst
: This year and next, that would be $10 million in combined revenue to potentially win?
Question: Justin Keywood - Stifel Canada - Analyst
: And is that -- does that consist of a number of contracts? Or is it one big one?
Question: Justin Keywood - Stifel Canada - Analyst
: Okay. And is there one of those opportunities that are coming up in the near term?
Question: Kyle McPhee - Cormark Securities Inc. - Analyst
: Just one more on the topic of the moving pieces feeding into your margins. So you've already talked about the carbon tax, the gas hedge price.
What about pricing? Is that going to help margins on a year-over-year basis in 2025? I guess the question is, was 2024 a full-year benefit of the real
pricing gains that you were realizing or were some of those throughout the year and we'll see the full-year benefit in 2025?
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