July 31, 2025
Vancouver, BC - Canfor Corporation (TSX: CFP) today reported its second quarter of 2025 results:
Overview
- Q2 2025 operating loss of $251 million, shareholder net loss of $203 million, or $1.71 per share
- After taking into consideration adjusting items of $201 million, Q2 2025 operating loss of $51 million, compared to a similarly adjusted operating loss of $32 million in Q1 2025
- Solid earnings from Europe; North American operations impacted by sustained weakness in lumber benchmark pricing
- Persistent weak market conditions in the US South led to the announcement of the permanent closure of the Company’s Estill and Darlington sawmills, and, as a result, an asset write-down and impairment charge of $189 million and restructuring costs of $7 million in the lumber segment
- Rising global economic uncertainty put downward pressure on global pulp market fundamentals, particularly in China, and on North American kraft paper markets; global pulp producer inventories climbed to well above the balanced range
- The Canadian dollar strengthened by 3 cents, or 4%, versus the US-dollar quarter-over-quarter, weakening revenues
- Vida AB announced agreement to purchase AB Karl Hedin Sågverk (“Hedin”) for $164 million, including approximately $39 million of working capital, which will add 230 million board feet to Vida’s annual capacity