Canfor Reports Results for First Quarter of 2024

May 01, 2024

Canfor Corporation (“The Company” or “Canfor”) (TSX: CFP) today reported its first quarter of 2024 results:


  • Q1 2024 operating loss of $86 million; shareholder net loss of $65 million, or $0.54 per share
  • Sustained pressure on global lumber markets and pricing, especially for Southern Yellow Pine (“SYP”)
  • Solid earnings from Europe; US South results directly impacted by weak SYP lumber pricing; Western Canadian results remained challenging despite uplift in Western Spruce/Pine/Fir lumber pricing
  • Modest uptick in NBSK pulp unit sales realizations, 7% increase in pulp production quarter-over-quarter
  • Continued execution of the Company’s US South growth strategy with the announced agreement to acquire the El Dorado lumber manufacturing facility in Arkansas, as well as plans to optimize the Company’s Alabama operational footprint
  • Ongoing constraints accessing economically viable fibre in British Columbia impacting lumber and pulp operating rates in the near-term and through the balance of 2024

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