Transcontinental Inc Q4 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Adam Shine - National Bank Financial Research - Analyst : Okay, good morning. Maybe let's start with, Thomas on book printing. The indication in Q4 was that it was just slightly lower. So can you maybe speak to whether you were still seeing volumes for that, US outsourcing customer, and, in as much as the outlook, as Donna referenced, suggests that book printing does face a tough comp and. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 1:00PM, TCLa.TO - Q4 2025 Transcontinental Inc Earnings Call Could be lower any particular optimism in regards to how that particular customer continues with you and or opportunities given where FX continues to stand to pursue, other outsourcing opportunities in book and then I'll just follow-up with another question.

Question: Adam Shine - National Bank Financial Research - Analyst : Okay, and then and then pivoting to, in-store marketing, obviously, you guys have been pretty excited about this, not just in FY25 but in prior years. Can you maybe talk to the scope of the opportunity? I think you're continuing to look at, strategic acquisitions and ISM. Is there a particular objective in mind in terms of, level of sales, by the end of this year or perhaps over the course of the next two, three years.

Question: Adam Shine - National Bank Financial Research - Analyst : Okay, thank you very much. I'll leave it at that.

Question: Sean Steuart - TD Cowen - Analyst : Thank you. Good morning. Question pulling apart the 2026 guidance for flat EBITDA for the continuing operations. Can you address some of it in your comments on the previous question. But buried within the flat EBITDA guidance, can you speak to organic revenue growth expectations for ISM and some of the other bespoke growth businesses versus what you would expect in the legacy printing? Just trying to understand some of the puts and takes in overall organic growth expectations.

Question: Sean Steuart - TD Cowen - Analyst : And with respect to the corporate cost savings, if this transaction closes calendar Q1, I think, the indication was you expect corporate costs to be halved over time. Can we assume sort of half of that half is in fiscal 2026, what's reflected in the overall EBITDA guide with respect to corporate cost reduction?

Question: Sean Steuart - TD Cowen - Analyst : Okay. Okay, that's all I have for now, thank you.

Question: Stephen MacLeod - BMO Capital Markets - Analyst : Thank you. Good morning, everyone. Just wanted to drill down a little bit on ISM and maybe the outlook for 2026 and beyond. Can you just remind us kind of what the underlying growth rate -- organic growth rate is within that business? And do you have an estimate of what your market share might be in that segment? And then, I guess, thirdly, are there any other -- I know it's very fragmented, but are there any other sort of larger or medium-sized players that were you to do an acquisition, it would be more additive to sales than perhaps a tuck-in or something like that.

Question: Stephen MacLeod - BMO Capital Markets - Analyst : Okay, that's good color. Thank you, Thomas. And then maybe just more of like a housekeeping question, but once the packaging sale is done, completed in Q1, will you be breaking out corporate costs, from within your other segments so we can see how that moves in isolation?

Question: Stephen MacLeod - BMO Capital Markets - Analyst : Yeah, okay, that's great, and then I just wanted to ask about corporate costs, just with respect to the previous question, I guess I mean, I know it's, I know that there are some moving parts around that for fiscal 2026 and how corporate costs declined post sale, but I'm just curious, I mean, it would be fair to assume that you would see some reduction in fiscal 2026. Is that correct?

Question: Stephen MacLeod - BMO Capital Markets - Analyst : Yeah, okay, great. Thank you, Donald, thank you, Thomas. Appreciate it. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 1:00PM, TCLa.TO - Q4 2025 Transcontinental Inc Earnings Call

Question: David McFadgen - Cormark Securities Inc - Analyst : All right, thank you. Great So a couple of questions. You talked about in your release that the retail printing or retail services and printing EBITDA was down it seems largely due to Canada Post disruption. What would it have been excluding Canada Post.

Question: David McFadgen - Cormark Securities Inc - Analyst : Okay, all right, thank you, and then you get in terms of the outlook, you give us an outlook for EBITDA, but what about, revenue would, you've gone through some of the puts and takes here in terms of revenue, but-- what's your expectation for overall revenue for 2026?

Question: David McFadgen - Cormark Securities Inc - Analyst : Okay. All right. That's helpful. Thank you. And then just on the dividend, I would imagine, you're probably not going to raise just the normal dividend, in 2026, and you would probably wait until you see either EBITDA growing or revenue growing organically. Is that a fair assumption?

Question: David McFadgen - Cormark Securities Inc - Analyst : Okay. All right. Okay, thank you.