Nov 17, 2022
Lumber Prices Hurt Canfor Income
Canfor Corporation had sales of $1,666.4 million for the third quarter of 2022, in line with sales of $1,676.6 million in the third quarter of 2021. Operating income for the quarter was $108.6 million compared to $331 million in the year-ago period. The company says a decline in lumber segment earnings, due to lower global lumber pries and reduced operating schedules, were behind the decrease. Adjusted net income for the quarter was $98.5 million compared to $209 million last year.
Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.