May 3, 2022
Vancouver, BC - Canfor Corporation (“The Company” or “Canfor”) (TSX: CFP) today reported its first quarter of 2022 results:
Overview
- Q1 2022 reported operating income of $742 million driven by strong lumber segment results with near record-high North American lumber pricing and strong earnings for the Company’s European lumber operations
- Shareholder net income of $534 million, or $4.29 per share
- Completed acquisition of Millar Western Forest Products Ltd.’s (“Millar Western”) solid wood operations and associated tenure for $440 million, including net working capital
- Announced $165 million (US$130 million) investment in the US South to significantly upgrade and expand Urbana’s sawmill and planer facility
- Announced the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050