Canfor Reports Results for Second Quarter of 2023

Jul 27, 2023

Canfor Corporation (“The Company” or “Canfor”) (TSX: CFP) today reported its second quarter of 2023 results:


  • Q2 2023 operating loss of $67 million including a $57 million reversal of a previously recognized inventory write-down; adjusted operating loss of $124 million; adjusted shareholder net loss of $44 million, or $0.36 per share
  • Strong earnings continued at the Company’s European and US South operations with persistent challenges in British Columbia
  • Sustained pressure on global lumber market fundamentals and pricing, particularly in North America
  • Increased North American lumber production & shipments despite ongoing curtailments in British Columbia and permanent closure of Chetwynd facilities and temporary closure of Houston sawmill
  • Significant deterioration in global pulp market fundamentals; closure of the pulp line at Prince George Pulp and Paper Mill; subsequent to quarter-end, short curtailment of Northwood NBSK pulp mill amidst British Columbia port strike

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