Canfor Reports Results for Third Quarter of 2020

Oct 22, 2020

Canfor Corporation (“The Company” or “Canfor”) (TSX: CFP) today reported its third quarter 2020 results: 

Overview 

  • Third quarter of 2020 reported operating income of $300 million, adjusted operating income of $347 million
  • Record-high adjusted lumber earnings of $387 million, driven by unprecedented surge in lumber prices and strong operational performance across all regions despite the impact of the coronavirus pandemic
  • Total net debt of $526 million at September 30, 2020, improvement of $331 million from prior quarter; available liquidity of $1.1 billion; net debt to capitalization of 18.6% at September 30, 2020
  • Adjusted shareholder net income of $259 million, or $2.07 per share
  • Vida Group (“Vida”) completed acquisition of Bergs Timber Production AB (“Bergs”) sawmill assets
  • Cumulative cash deposits of $548 million on countervailing and anti-dumping duties at September 30, 2020

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