Canfor Q1 sales remain steady

Canfor Corporation had sales of $1.38 billion for the first quarter of 2024, a small decrease compared to sales of $1.39 billion in the first quarter of 2023. The company had an operating loss of $86 million for the first quarter, with a shareholder net loss of $65 million. Canfor ways sustained pressure on global lumber markets and pricing, especially for Southern Yellow Pine (SYP) impacted results. For the lumber segment, the adjusted operating loss was $87.3 million for the first quarter of 2024, compared to the previous quarter’s adjusted operating loss of $192.4 million.  Results were primarily driven by a 12 percent uplift in the average North American Western Spruce/Pine/Fir (SPF) 2x4 #2&Btr price and slightly higher market pricing in the UK.