May 3, 2022
Vancouver, BC - Canfor Pulp Products Inc. (“The Company” or “CPPI”) (TSX: CFX) today reported its first quarter of 2022 results:
Overview
- Q1 2022 reported operating loss of $26 million; net loss of $20 million, or $0.31 per share
- Notable uptick in global US-dollar pulp list prices in Q1; ongoing global supply chain challenges resulting in majority of price gains being realized in Q2 and Q3
- Lower furnace rebuild of recovery boiler number one (“RB1”) completed mid-April; focused on optimizing production performance going forward
- Together with Canfor Corporation, announced the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050
- Available liquidity of $111 million at March 31, 2022