Canfor Reports Results for Third Quarter of 2023

Nov 02, 2023

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


  • Q3 2023 consolidated operating loss of $65 million, including a $49 million operating loss from the pulp business; adjusted operating loss of $86 million; adjusted shareholder net loss of $19 million, or $0.16 per share
  • Continued strong results in the US South; solid European results despite seasonal downtime; another challenging quarter for Western Canada
  • Persistent pressure on global lumber market demand and pricing through much of the quarter
  • Market-driven curtailments in Western Canada & seasonal downtime in Europe led to lower shipments
  • Confirmed future investment of approximately $200 million in a new, state-of-the-art manufacturing facility in Houston, British Columbia
  • Challenging results for Canfor Pulp despite stable global pulp market fundamentals; Northwood NBSK Pulp Mill scheduled maintenance completed as planned; restart delayed due to operational challenges

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