Sign in

    Matt McKellar

    Research Analyst at RBC Capital Markets

    Matt McKellar is an Equity Research Associate at RBC Capital Markets, specializing in coverage of North American paper, forest products, and packaging companies such as International Paper, Weyerhaeuser, Mercer International, PotlatchDeltic, Sylvamo, Rayonier, Louisiana-Pacific, and Clearwater Paper. His career in research began when he joined RBC in August 2018 and he has consistently delivered detailed sector analysis, though his published performance metrics reflect a 28.12% success rate and an average return of -8.15% across 50 stock recommendations. McKellar holds the CFA designation, indicating professional expertise and industry credentials, and has been actively engaged in major industry earnings calls and investor presentations. He is FINRA registered and authorized to work as a securities analyst in the United States and Canada.

    Matt McKellar's questions to Sylvamo (SLVM) leadership

    Matt McKellar's questions to Sylvamo (SLVM) leadership • Q2 2025

    Question

    Matt McKellar of RBC Capital Markets inquired about recent trends in uncoated freesheet trade flows, the long-term demand outlook for Latin America, and the company's strategy for share repurchases given its strong balance sheet and current share price.

    Answer

    Don Devlin (SVP & CFO) and Jean-Michel Ribiéras (Chairman & CEO) noted a significant increase in roll imports into North America and pressure in other Latin American markets due to shifting trade flows ahead of tariff decisions. John Sims (SVP & COO) projected long-term Latin American demand to be flat to slightly down. He also affirmed that Sylvamo has the capacity and authorization to opportunistically repurchase shares, viewing them as undervalued.

    Ask Fintool Equity Research AI

    Matt McKellar's questions to INTERNATIONAL PAPER CO /NEW/ (IP) leadership

    Matt McKellar's questions to INTERNATIONAL PAPER CO /NEW/ (IP) leadership • Q2 2025

    Question

    Matt McKellar from RBC Capital Markets asked if there was an opportunity to accelerate reinvestment in the company's mills during the current soft demand environment. He also requested an update on the progress of exiting non-strategic export markets.

    Answer

    CEO & Chairman Andrew Silvernail confirmed they are pushing to accelerate mill reinvestment, which he called a 'gateway to a lot of financial performance.' He explained the plan is self-funded by diverting capital from non-strategic assets. Regarding exports, he estimated they are over halfway through exiting the non-strategic 'dumping ground' portion of the business while retaining valuable, strategic export relationships.

    Ask Fintool Equity Research AI

    Matt McKellar's questions to Clearwater Paper (CLW) leadership

    Matt McKellar's questions to Clearwater Paper (CLW) leadership • Q2 2025

    Question

    Matt McKellar inquired about Clearwater's industry outlook, specifically the drivers behind the back-half demand forecast and changes in import expectations. He also requested a detailed bridge for the Q3 EBITDA guidance, questioning the impact of maintenance outages, cost absorption, and potential price pressures. McKellar further asked about key variables for the Q3 outlook and the implied shipment trajectory for Q4.

    Answer

    CEO Arsen Kitch acknowledged mixed industry demand signals, noting stable backlogs despite lower shipments, and attributed softness to near-term economic uncertainty. He discussed how tariffs and FX rates could impact imports but found it hard to predict their movement. Kitch identified the Lewiston outage execution, stable demand, and competitor capacity as key Q3 variables. CFO Sherry Baker clarified the Q3 EBITDA bridge, citing a sequential increase in outage costs, a 5% lower production volume impacting absorption, and a modest tariff impact as the primary drivers.

    Ask Fintool Equity Research AI

    Matt McKellar's questions to POTLATCHDELTIC (PCH) leadership

    Matt McKellar's questions to POTLATCHDELTIC (PCH) leadership • Q2 2025

    Question

    Matt McKellar inquired about current investment opportunities within the Wood Products business that meet the company's return hurdles and asked for an outlook on capital expenditure trends for the segment over the next few years.

    Answer

    President & CEO Eric Cremers confirmed that while opportunities to grow and improve the Wood Products business exist, the primary focus for 2025 is to optimize the recently upgraded Waldo sawmill. He indicated that the company is actively analyzing further expansion opportunities and will provide more details later in the year or in early 2026.

    Ask Fintool Equity Research AI

    Matt McKellar's questions to WEYERHAEUSER (WY) leadership

    Matt McKellar's questions to WEYERHAEUSER (WY) leadership • Q2 2025

    Question

    Matt McKellar asked if the increased TRS capacity from new legislation makes Wood Products M&A more attractive and requested an update on the development pipeline for forest carbon credit projects.

    Answer

    CFO David Wold affirmed interest in Wood Products M&A for the right asset at the right price, while noting the recent focus has been on timberlands and organic growth. CEO Devin Stockfish clarified that of the six carbon projects in development, some are expected in 2025 with the rest in early 2026, and the overall project pipeline is expected to grow annually.

    Ask Fintool Equity Research AI

    Matt McKellar's questions to WEST FRASER TIMBER (WFG) leadership

    Matt McKellar's questions to WEST FRASER TIMBER (WFG) leadership • Q2 2025

    Question

    Matt McKellar from RBC Capital Markets asked whether the company is observing any pre-buying or inventory accumulation of SPF lumber in the U.S. in anticipation of higher duty rates taking effect.

    Answer

    SVP of Sales and Marketing Matt Tobin responded that they have not seen a noticeable change in customer purchasing patterns to date. He noted that uncertain economic outlooks typically do not encourage increased purchasing, and it remains difficult to speculate on how customers will react to new duties.

    Ask Fintool Equity Research AI

    Matt McKellar's questions to WEST FRASER TIMBER (WFG) leadership • Q2 2025

    Question

    Matt McKellar from RBC Capital Markets asked whether West Fraser is observing any pre-buying or inventory accumulation of SPF lumber in the U.S. in anticipation of higher duty rates and when such activity might begin.

    Answer

    SVP of Sales and Marketing Matt Tobin responded that the company has not seen a noticeable change in customer purchasing patterns. He explained that in uncertain economic outlooks, customers are more focused on managing inventory to meet immediate demand rather than building up stock.

    Ask Fintool Equity Research AI

    Matt McKellar's questions to WEST FRASER TIMBER (WFG) leadership • Q2 2025

    Question

    Matt McKellar from RBC Capital Markets asked whether the company is observing any pre-buying or inventory accumulation of SPF lumber in the U.S. in anticipation of higher duty rates taking effect.

    Answer

    SVP of Sales & Marketing Matt Tobin responded that there has been no noticeable change in customer purchasing patterns. He noted that in uncertain economic environments, customers typically do not increase purchasing and are currently focused on managing inventory to meet immediate demand rather than speculating on future duty impacts.

    Ask Fintool Equity Research AI