Chemtrade Logistics (CGIFF) AI Stock Analysis

Company Guidance

Management reiterated guidance for adjusted EBITDA (a non‑IFRS measure they may refer to as “EBITDA”) to be roughly flat with last year, noting the first half of 2026 trailed 2025 by about $15–20 million and must be recovered in H2; they highlighted segment dynamics with acid and Regen outperformance and EC/chlor‑alkali normalization expected to close much of the gap. They disclosed North Vancouver capital needs in a broad ~$75–125 million range (also referenced as $75–105m earlier), planned to be deployed over roughly four years with heavier spend in 2028 and 2030 (and potential 2028 timing risk depending on an injunction hearing expected in 2027 with a decision ~4–6 months later); the biennial North Van turnaround (~$7 million) is not expected next year. Other quantified items: Ultrapure is ramping to supply two fabs in 2H26 and Cairo is qualified to two advanced‑node chipmakers with fills into 2027–28, caustic prices jumped roughly $150/ton (from ≈$350/ton to ≈$500/ton in May) with a modest recovery expected, and leverage sits at ~2.5x (post‑Polytech) so NCIB buybacks remain calibrated to that target.