Canfor Has Record High Lumber Sales

Canfor Corporation had operating income of $1.04 billion for the second quarter of 2021, up from operating income of $603.6 million in the first quarter of 2021. The increase reflects record high lumber segment earnings and improved pulp and paper segment results. Operating income for the lumber segment was $1,000.5 million, an increase of 393.8 million quarter-over-quarter. Global lumber market conditions remained very strong in the second quarter of 2021, as tight supply coupled with significant demand drove global benchmark lumber prices to new unprecedented highs. Demand in the North American repair and remodeling sector also showed continued strength early in the current quarter, but weakened over the balance of the period. Sales for the lumber segment were $ 2,161.1 million in the second quarter compared to $ 1,679.5 million in the first quarter.