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Nov 9, 2023

Pulp products increase Canfor Q3 loss

Canfor had a consolidated operating loss of $65.1 million for the third quarter of 2023, which included a $49.3 million operating loss from Canfor Pulp Products Inc. This compares to a consolidated operating loss of $66.7 million in the second quarter of 2023, $37.9 million of which was attributed to CPPI. For the lumber segment, adjusted results increased $59.7 million quarter-over-quarter. Lumber market fundamentals remained relatively subdued through most of the third quarter. Market-related curtailments and wildfires, particularly in western Canada, continued well into the quarter, constraining North American lumber supply. These supply pressures were met with solid repair and remodeling activity and a slight uptick in new home construction in July, despite ongoing affordability challenges tied to high interest rates and persistent inflation.

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