I agree with Robin, that the words do make it sound like regeneration precedes justification.
But Tom,
That is NOT what Robin's assessment was, "
...isn't it kinda sorta suggesting that conversion precedes regeneration?" Here, Robin see's the statement as saying that justification (which comes via repentance and faith, aka: conversion) precedes regeneration.
Sooooo, I for one need more clarity from you.
Do you think the church's statement teaches:
1. regeneration precedes justification (faith & repentance)
OR
2. faith precedes regeneration
Lastly, one may study at a particular school or under a particular individual but that is no guarantee that the student will embrace all that the school or instructor teaches.