Category Archives: Finance & Economics

Finance & Economics

Canfor Corporation reports Q1, 2025 operating loss of $29 million

Canfor Corporation
May 8, 2025
Category: Finance & Economics
Region: Canada, International

VANCOUVER — Canfor Corporation reported its Q1, 2025 results. The Company reported an operating loss of $28.5 million for the first quarter of 2025, compared to an operating loss of $45.9 million in the fourth quarter of 2024. …These results largely reflected improved lumber segment results and, to a lesser extent, the pulp and paper segment. Canfor’s CEO, Susan Yurkovich said, “While improved lumber benchmark prices provided some relief, rising global economic and trade uncertainty, and US lumber duties, create a challenging backdrop. Through our diversified operating platform in Canada, the US South and Europe, we are positioned to mitigate these challenges, while remaining focused on what we can control. …“For our pulp business” Yurkovich added, “this was another solid quarter with improved results and a strong operational performance. However, global economic uncertainty is also putting pressure on global softwood pulp markets in the near term.”

Related coverage: Canfor Pulp reported Q1, 2025 operating income of $11 million

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Trump talks tough on Canada — while importing more cars, lumber, and oil

By Catherine Baab
The Quartz Daily Brief
May 6, 2025
Category: Finance & Economics
Region: Canada, United States

Fresh trade data shows deepening US reliance on Canadian goods, even as the president claims the opposite. …According to the US Census Bureau and Bureau of Economic Analysis, the US goods trade deficit with Canada widened to $4.9 billion in March, up sharply from prior months. The surge was driven by higher imports of Canadian-made cars, crude oil, and finished wood products — the exact categories Trump dismissed. Automotive imports rose by $2.6 billion, including a $2.1 billion spike in passenger vehicles, many of which are assembled in Canada. Oil and lumber purchases also increased, contributing to a 14% month-over-month jump in the broader US trade deficit, which hit a new monthly high of $140.5 billion in March. …The US typically runs a services surplus with Canada, and American firms rely heavily on Canadian supply chains in autos, energy, and materials, as the fresh BEA data suggests.

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Lumber Prices Ease as Uncertainty Settles Despite Prices Settling

By Vincent Salandro
Builder Magazine
May 5, 2025
Category: Finance & Economics
Region: Canada, United States

Uncertainty over international trade barriers has caused significant fluctuations in lumber prices in recent months, according to Keta Kosman, publisher of Madison’s Lumber Reporter. “The whipsaw fatigue of conflicting tariff announcements over two months had Western Canadian suppliers hoping to see the market settle down,” Kosman. …Some stakeholders held off on buying lumber altogether, while others ordered early in hopes of securing delivery ahead of any potential trade restrictions. “Others decidedly switched their purchasing to Southern Yellow Pine from SPF,” Kosman says. …Data from the WWPA indicates US sawmills were running at only 67% of full capacity in January, compared to 72% for the full-year 2024. In Canada, sawmill utilization was 74% of capacity, down just one percentage point compared to the previous year. …“At this time, there is significant lumber supply able to come back online at existing facilities should demand improve into the summer.”

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Lumber futures fell below $550 per thousand board feet, hovering at yearly lows

Trading Economics
May 5, 2025
Category: Finance & Economics
Region: Canada, United States

Lumber futures fell below $550 per thousand board feet, hovering at yearly lows as excess supply from winter restocking collided added to a decline in demand. A 14.2% drop in U.S. single-family housing starts to an annualized 940,000 units in March, pushed new-home inventories to nearly eight months of supply. While a federal directive to raise timber production from public lands by 25% may ease constraints in the long term, the 90-day pause on new reciprocal tariffs has removed near-term urgency for buyers to cover import risks. At the same time, expectations of sharply higher anti-dumping duties on Canadian lumber have prompted mills to hold back supply, further pressuring prices as domestic inventories accumulate and demand remains subdued despite the onset of the spring building season.

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Mercer International reports Q1, 2025 net loss of $22.3 million

Mercer International Inc.
May 1, 2025
Category: Finance & Economics
Region: Canada, International

NEW YORK, NY — Mercer International reported first quarter 2025 Operating EBITDA of $47.1 million, a decrease from $63.6 million in the same quarter of 2024 and $99.2 million in the fourth quarter of 2024. In the first quarter of 2025, net loss was $22.3 million compared to $16.7 million in the first quarter of 2024 and net income of $16.7 million in the fourth quarter of 2024. Mr. Juan Carlos Bueno, Chief Executive Officer, stated: “There was continued strength in pulp markets and an improving lumber pricing environment in the first quarter of 2025. However, our operating results in the quarter were negatively impacted by annual planned maintenance downtime at our Celgar mill and the impact of the weaker dollar against the euro.

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Canada’s economy shrunk 0.2% in February, but early signs point to growth in March

CBC News
April 30, 2025
Category: Finance & Economics
Region: Canada

Statistics Canada says the Canadian economy shrunk in the month of February, but declines might not last long, as early signs for March point to moderate GDP growth. The agency says real gross domestic product decreased 0.2% in February. This follows previous growth in the month of January of 0.4% overall. While goods-producing industries pulled the economy up in January, Statistics Canada says it saw a decline of 0.6% overall for February. …Statistics Canada says 12 of the country’s 20 industrial sectors saw declines in February. But the manufacturing sector bucked the trend — that industry saw a 0.6% rise in February. …Advanced information from Statistics Canada indicates that real GDP increased by 0.1 per cent last month. The agency says the annualized growth rate for the first quarter of 2025 based on the March flash estimate is 1.5 per cent.

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Lumber Futures Stabilizes at Over 2-Month Low

Trading View
April 28, 2025
Category: Finance & Economics
Region: Canada, United States

Lumber futures stabilized around $570 per thousand board feet, nearing their lowest point since early February, and marking a sharp drop from late March when prices briefly spiked to $685, the highest in two and a half years. The threat of additional trade tariffs continues to weigh on the construction sector, dampening demand and slowing housing starts. The US produces only 35 billion board feet of lumber annually, far short of the 50 billion board feet it consumes, making it heavily reliant on imports. While steep duties on Canadian softwood lumber have long been in place, these tariffs are set to more than double by September, further driving up material costs for builders. Additionally, concerns are rising that Washington could impose tariffs on European wood, which would directly impact Swedish exporters.

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Risk of global economic recession surges on US tariff shockwaves

By Hari Kishan
Reuters
April 28, 2025
Category: Finance & Economics
Region: Canada, United States

Risks are high that the global economy will slip into recession this year, according to a majority of economists in a Reuters poll, in which scores said US President Donald Trump’s tariffs have damaged business sentiment. Just three months ago, the same group of economists covering nearly 50 economies had expected the global economy to grow at a strong, steady clip. …While Trump has suspended the heaviest tariffs imposed on almost all trading partners for a few months, a 10% blanket duty remains, as well as a 145% tariff on China, the United States’ largest trading partner. …Showing unusual unanimity… three-quarters of economists cut their 2025 global growth forecast, bringing the median to 2.7% from 3.0% in a January poll. …China and Russia were forecast to grow 4.5% and 1.7% respectively, outperforming the US. However, growth forecasts for Mexico and Canada were downgraded from January by some of the largest margins, to 0.2% and 1.2%.

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Western Forest Products reports Q1, 2025 net income of $13.8 million

Western Forest Products Inc.
May 6, 2025
Category: Finance & Economics
Region: Canada, Canada West

VANCOUVER – Western Forest Products reported improved financial results in the first quarter of 2025, as compared to the same period last year. Net income was $13.8 million in the first quarter of 2025, as compared to a net loss of $8.0 million in the first quarter of 2024, and a net loss of $1.2 million in the fourth quarter of 2024. …lumber production of 134 million board feet (versus 145 million board feet in Q1 2024); average lumber selling price of $1,533 per mfbm. …North American markets are expected to be volatile due to concerns around the economic impact caused by potential further US tariffs and retaliatory tariffs. The spring building season which typically leads to gains in softwood lumber demand could be more muted. …In Japan, the spring housing demand is stronger than expected and channel inventories have declined. …Demand for our Industrial lumber products in North America are expected to strengthen as supply remains tight across all species.

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Cascades reports Q1, 2025 operating income of $50 million

By Cascades Inc.
Cision Newswire
May 8, 2025
Category: Finance & Economics
Region: Canada, Canada East

KINGSEY FALLS, Quebec — Cascades reports its unaudited financial results for the three-month period ended March 31, 2025. Highlights include: Sales of $1,154 million (compared with $1,211 million in Q4 2024 and $1,109 million in Q1 2024); Operating income of $50 million (compared with $16 million in Q4 2024 and $9 million in Q1 2024); and Total capital expenditures, net of disposals, totaled $36 million in Q1 2025, compared to $29 million in Q4 2024 and $41 million in Q1 2024. Hugues Simon, CEO, commented: “Our first quarter performance was driven by lower volumes across our businesses as uncertainty regarding tariffs led to a deterioration in consumer and business sentiment beginning in mid-February, resulting in lower sales and profitability levels sequentially.

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Acadian Timber Corp. Reports First Quarter Results

Acadian Timber Corp.
May 7, 2025
Category: Finance & Economics
Region: Canada, Canada East

Edmundston, NEW BRUNSWICK  – Acadian Timber Corp. reported financial and operating results for the three months ended March 29, 2025. “Regional demand and pricing for our products remained stable during the first quarter of 2025, despite heightened levels of economic uncertainty. However, warm weather and limited contractor availability in Maine impacted our ability to deliver to our customers,” commented Adam Sheparski, President and Chief Executive Officer. “The establishment of our own logging operations in Maine during the first quarter reduces our dependence on external contractors going forward and we look forward to catching up on our planned volumes over the course of the rest of the year.” Acadian generated sales of $24.8 million, compared to $28.8 million in the prior year period. The first quarter of 2024 included $4.9 million in carbon credit sales, while no carbon credit sales occurred in the first quarter of 2025. 

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Stella-Jones reports Q1, 2025 net income of $93 million

Stella-Jones Inc.
May 7, 2025
Category: Finance & Economics
Region: Canada, Canada East

MONTREAL — Stella-Jones announced financial results for its first quarter ended March 31, 2025. Highlights include: Sales of $773 million, relatively unchanged from Q1 2024; Operating income of $143 million, including insurance settlement of $38 million; EBITDA of $179 million, or 23.2% margin; Acquisition post-quarter of a steel transmission structure manufacturer, aligned with strategy to support North American infrastructure. …Eric Vachon, President and Chief Executive Officer of Stella-Jones said “Though macroeconomic headwinds continue to impact volume growth, at this stage we remain confident in our ability to achieve our financial objectives. …“The Company entered into a definitive agreement to acquire Locwel., a leading manufacturer of lattice towers and steel poles for electrical transmission. This transaction marks a step forward in Stella-Jones’ long-term vision, allowing us to enhance our infrastructure offering and establish a presence in the growing steel transmission structure industry.”

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Uncertainty around tariffs triggers lumber volatility, slows growth

By Valerie Hansen, Chairman BuyMetrics
The LBM Journal
May 7, 2025
Category: Finance & Economics
Region: United States

Valerie Hansen

Threatened tariffs, announced tariffs, rescinded tariffs, pending negotiations, countervailing duties, a falling bond market, rising mortgage rates—the threats, drama, and uncertainty have not been good for the lumber and building materials (LBM) industry. The uncertainty has led to risks of a different kind: slowing growth and rising inflation. Fortunately, the industry scored a win in March when Canadian lumber and panel products were deemed US-Mexico-Canada-Agreement-compliant. Up next, the countervailing and anti-dumping duties on Canadian lumber. …Yet to come, the Section 232 National Security Investigation. …As the industry braces for new tariffs, here’s what dealers can learn from the other extreme cycles of the 21st century —the 2006 boom cycle, 2009 bust cycle (Great Recession), and the 2021 COVID-19 cycle. …Risk management: To mitigate the risk of over-paying or experiencing a disruption in supply, expand your supply base. It pays to diversify.

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China rolls out more stimulus and agrees to trade talks with the US as tariffs hit economy

By Ken Moritsugu and Elaine Kurtenbach
The Associated Press in the Canadian Press
May 7, 2025
Category: Finance & Economics
Region: United States, International

BEIJING — China announced a barrage of measures meant to counter the blow to its economy from US President Donald Trump ’s trade war, as the two sides prepared for talks later this week. Beijing’s central bank governor and other top financial officials outlined plans Wednesday to cut interest rates and reduce bank reserve requirements to help free up more funding for lending. …Trump’s tariffs on imports from China, have begun to take a toll on its export-dependent economy at a time when it’s already under pressure from a prolonged downturn in the property sector. China has retaliated with tariff hikes of up to 125% on US goods and stopped buying most American farm products. Late Tuesday, China and the US announced plans for talks. …The agreement to talk comes at a time when both sides have remained adamant, at least in public, about not compromising on the tariffs.

Related news in CNN: US stocks open higher as US-UK trade deal announcement nears

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US Multifamily Developer Confidence Falls in the First Quarter

The National Association of Home Builders
May 8, 2025
Category: Finance & Economics
Region: United States

Confidence in the market for new multifamily housing declined year-over-year in the first quarter, according to the Multifamily Market Survey (MMS) released by the NAHB. The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 44, down three points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 82, down one point year-over-year. …The MPI is a weighted average of four key market segments: three in the built-for-rent market (garden/low-rise, mid/high-rise and subsidized) and one in the built-for-sale (or condominium) market. The component measuring garden/low-rise dipped one point to 54, the component measuring mid/high-rise units fell eight points to 28, the component measuring subsidized units held even at 50 and the component measuring built-for-sale units posted a one-point decline to 38.

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US Mortgage Activity Levels Off in April as Rates Increase, New Home Prices Drop

By Catherine Koh
NAHB Eye on Housing
May 6, 2025
Category: Finance & Economics
Region: United States

Mortgage loan applications saw little change in April, as refinancing activity decreased. The Market Composite Index, which measures mortgage loan application volume based on the Mortgage Bankers Association (MBA) weekly survey, experienced a 0.4% month-over month increase on a seasonally adjusted (SA) basis. However, year-over-year, the index is up 29.3% compared to April 2024. The average rate for a 30-year fixed mortgage climbed 10 basis points in April, reaching 6.8%, according to the MBA survey. As rates edged higher, purchase activity posted a modest 1.9% month-over-month gain (SA), while the Refinance Index declined by 1.4% (SA). Compared to a year ago, mortgage rates are down 37 bps, and thus, purchase applications are higher by 11.2%, while refinance activity has jumped 62.0%.

In related news: US Prices for New Homes Continue to Drop as Existing Rises

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The Fed will likely hold interest rates steady as Trump’s tariffs spark uncertainty

By Scott Horsley
National Public Radio
May 7, 2025
Category: Finance & Economics
Region: United States

The Federal Reserve is likely to hold interest rates steady later on Wednesday amid fears that President Trump’s tariffs will rekindle inflation and slow economic growth. The decision to keep the Fed’s benchmark borrowing rate between 4.25% and 4.5% is widely expected by financial markets despite the president’s repeated demands for the Fed to lower interest rates. …Trade tensions have led to a sharp drop in consumer confidence. But they’ve yet to put much of a dent in the job market. …So long as tariffs threaten to put upward pressure on prices, the Fed will be inclined to keep interest rates relatively high, in an effort to prevent inflation from spiking again. That calculation could change, however, if the job market softens and unemployment starts to climb. Ordinarily, that would push the central bank toward lowering interest rates.

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As GDP Contracts, NAHB Fights NIMBYs and an Exec Order

The National Association of Home Builders
May 1, 2025
Category: Finance & Economics
Region: United States

Gross domestic product (GDP) contracted in the first quarter by 0.3%, with imported goods being a large contributor to the decline as the suppliers prepared for President Trump’s tariff proposals once he took office. NAHB estimates this should even out in the second quarter. Other economic data of note are inflation, which is still elevated but creeping downward, and the unemployment rate, which remains low but may edge up among economic uncertainty. …NAHB Chief Economist Robert Dietz hasn’t hit the panic button yet. And I still think that we don’t know what President Trump’s economy really is yet. It’s been policy by sledgehammer, and now they’re going to start putting the pieces back together.” NAHB Senior Officers and staff continue to actively engage with lawmakers on this and other policies, including a special BUILD-PAC Capital Club event this week featuring an interview with Sen. Tim Sheehy.

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Prices up, confidence down after 100 days of Trump 2.0

By Rod Sweet
Global Construction Review
April 30, 2025
Category: Finance & Economics
Region: United States

Tuesday marked the 100th day of President Trump’s second term in office and there are signs of stress and jitters in the US construction industry, with rising prices, falling confidence, and a sharp uptick in abandoned projects. “Lumber and metals prices shot up in March, while contractors’ inboxes are bulging with ‘Dear Valued Customer’ letters announcing further increases for many products,” said Ken Simonson, chief economist at AGC. “Rapid-fire changes in tariffs threaten to drive prices higher for many essential construction goods,” he added. The price of materials and services used in nonresidential construction rose 0.4% in March, the third monthly increase in a row, AGC said. It was the first time since September 2023 that input prices had risen for three consecutive months, and comes after more than a year of stable or falling prices, Simonson said. …Within the 0.4% hike, lumber and plywood rose 2.7%.

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US Housing’s Share of the Economy Grows Higher to Start the Year

By Jesse Wade
NAHB Eye on Housing
May 1, 2025
Category: Finance & Economics
Region: United States

Housing’s share of the economy grew to 16.4% in the first quarter of 2025, according to the advance estimate of GDP produced by the Bureau of Economic Analysis. This is the highest reading since the third quarter of 2022 and is up 0.2 percentage points from the fourth quarter of 2024. The more cyclical home building and remodeling component – residential fixed investment (RFI) – was 4.1% of GDP, up from 4.0% in the previous quarter. The second component – housing services – was 12.3% of GDP, up from 12.2% in the previous quarter. The graph below stacks the nominal shares for housing services and RFI, resulting in housing’s total share of the economy. …In the first quarter, RFI added 5 basis points to the headline GDP growth rate, marking the second straight quarter of positive contributions.

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Remodeling Market Poised for Growth as the Age of Owner-Occupied Homes Increases

National Association of Home Builders
May 1, 2025
Category: Finance & Economics
Region: United States

To kick off National Home Remodeling Month in May, which promotes the benefits of hiring a professional remodeler, the National Association of Home Builders (NAHB) has highlighted recent data from the American Community Survey (ACS) that shows almost half of the owner-occupied homes in the U.S. were built before 1980 and have a median age of 41 years. The aging housing stock, combined with insufficient new home inventory, indicates the remodeling market is poised for future growth. The U.S. owner-occupied housing stock has aged rapidly, particularly since the Great Recession, as ACS data analyzed by NAHB shows that around 48% of the housing stock dates back to the 1980s and earlier. The median age of owner-occupied homes climbed to 41 years in 2023, up from 31 years in 2005.

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US Jobs Openings Fall as Economy Slows

By Robert Dietz, Chief Economist
The NAHB Eye on Housing
April 29, 2025
Category: Finance & Economics
Region: United States

Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per the March Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy declined from 7.48 million in February to 7.19 million in March. This is notably smaller than the 8.09 million estimate reported a year ago and reflects a softened aggregate labor market. Previous NAHB analysis indicated that this number had to fall below 8 million on a sustained basis for the Federal Reserve move on interest rate reductions. With estimates remaining below 8 million for national job openings, the Fed, in theory, should be able to cut further despite a recent pause. However, tariff proposals may keep the Fed on pause in the coming quarters.

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US economy shrank 0.3% in the first quarter as Trump policy uncertainty weighed on businesses

By Jeff Cox
CNBC Economy
April 30, 2025
Category: Finance & Economics
Region: United States

The US economy contracted in the first three months of 2025 on an import surge at the start of President Trump’s second term in office as he wages a potentially costly trade war. Gross domestic product fell at a 0.3% annualized pace, according to a Commerce Department report adjusted for seasonal factors and inflation. This was the first quarter of negative growth since Q1 of 2022. Economists had been looking for a gain of 0.4% after GDP rose by 2.4% in the fourth quarter of 2024. However, over the past day or so some Wall Street economists changed their outlook to negative growth, largely because of an unexpected rise in imports as companies and consumers sought to get ahead of the Trump tariffs implemented in early April. …The more telling number for the future of the expansion was consumer spending, and it grew, but at a relatively weak pace,” said Robert Frick. 

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US Consumer Confidence Plunged Again in April

The Conference Board
April 29, 2025
Category: Finance & Economics
Region: United States

The Conference Board Consumer Confidence Index® fell by 7.9 points in April to 86.0 (1985=100). The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—decreased 0.9 points to 133.5. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—dropped 12.5 points to 54.4, the lowest level since October 2011 and well below the threshold of 80 that usually signals a recession ahead. …Stephanie Guichard, Senior Economist at The Conference Board said, “The decline was largely driven by consumers’ expectations. …In addition, expectations about future income prospects turned clearly negative for the first time in five years, suggesting that concerns about the economy have now spread to consumers worrying about their own personal situations. However, consumers’ views of the present have held up, containing the overall decline in the Index.”

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President Trump’s tariffs are hurting Massachusetts construction industry, lawmaker says

By Jon Keller
CBS news – WBZ
April 27, 2025
Category: Finance & Economics
Region: United States

Stephen Lynch

Massachusetts Rep. Stephen Lynch is hitting out at the Trump administration, criticizing the president for his tariff war that he said is having an adverse effect on the construction industry in his district. “Tariffs on 140 countries at the same time, treating Canada the same way we treat China was a terrible mistake,” “I would have hoped for a balanced scheme. …”With the market going down, with the strength of the dollar receding, I think he’s a bit worried Treasury bills are not as desirable,” Lynch said. …”I come out of the construction industry, so we’ve got a bunch of projects in my district that are ready to go. The community’s on board, and yet the developers are afraid to put a shovel in the ground. “Is it going to cost 25% more with the tariffs on Canada, all of our lumber, steel, aluminum, aggregate concrete, all of that?

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US Homeownership Rate Dips to Five-Year Low

By Na Zhao
NAHB – Eye on Housing
April 28, 2025
Category: Finance & Economics
Region: United States

The homeownership rate declined to 65.1% in the first quarter of 2024, the lowest level since the first quarter of 2020, according to the Census’s Housing Vacancy Survey (HVS). Amid elevated mortgage interest rates and tight housing supply, housing affordability is at a multidecade low. Compared to the peak of 69.2% in 2004, the homeownership rate is 4.1 percentage points lower and remains below the 25-year average rate of 66.3%. Homeownership rates declined across nearly all age groups over the past year, except those aged 65 and older. Among younger households, the homeownership rate for those under 35 rose slightly to 36.6% in the first quarter of 2024. However, it is still hovering at the lowest rate in the last 6 years. This age group, particularly sensitive to mortgage rates and the inventory of entry-level homes, saw the largest decline among all age categories.

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Agriculture isn’t nearing trade war tariffs crisis, ‘it is full blown crisis already’ farmers say

By Lori Ann LaRocco
CNBC News
April 28, 2025
Category: Finance & Economics
Region: United States, International

The clock is ticking on trade deals that the US will need to strike with many nations, most notably China, to avoid what Trump’s Treasury Secretary has described as an “unsustainable” tariffs war. But in the U.S. farming sector, the damage has already been done and the economic crisis already begun. US agriculture exporters say the global backlash to President Trump’s tariffs is punishing them, especially a decline in Chinese buying of US farm products, leading to cancelled export orders and layoffs. Peter Friedmann, of the Agriculture Transportation Coalition …says “massive” financial losses are already being shared by its members. …A wood pulp and paperboard exporter reported to the trade group the immediate cancellation or hold of 6,400 metric tons in a warehouse and a hold of 15 railcars sitting in what is known in the supply chain as “demurrage,” when fees are charged for delayed movement of goods.

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Tariffs Are Already Raising Home Prices — Here’s How Much and Why

By Jack Caporal
Motley Fool Money
April 25, 2025
Category: Finance & Economics
Region: United States

Tariffs on key home-building materials — particularly softwood lumber — could significantly increase the cost of new homes in the United States. With the country already facing a housing shortage and widespread affordability challenges for many, new tariffs could price out over 100,000 more prospective home buyers. Home builders reported in April 2025 that existing tariffs had already increased costs by $10,900 per home, according to the NAHB)/Wells Fargo Housing Market Index (HMI). …The Trump administration has opened an investigation into whether imports of lumber and related products threaten U.S. national security — an inquiry that could result in tariffs. New duties on Canadian softwood lumber, the primary source of U.S. imports, could lead home construction costs to surge. …More than 70% of lime and gypsum, critical for drywall and plaster, are imported from Mexico. The Trump administration has threatened to impose a 25% tariff on Mexican goods.

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Boise Cascade reports Q1, 2025 net income of $40.3 million

Boise Cascade Company
May 5, 2025
Category: Finance & Economics
Region: United States, US West

BOISE, Idaho – Boise Cascade reported net income of $40.3 million on sales of $1.5 billion for the first quarter ended March 31, 2025, compared with net income of $104.1 million on sales of $1.6 billion for the first quarter ended March 31, 2024. …Wood Products’ sales, including sales to Building Materials Distribution (BMD), decreased $53.1 million, or 11%, to $415.8 million for the three months ended March 31, 2025, from $468.9 million for the three months ended March 31, 2024. The decrease in sales was driven by lower sales prices and sales volumes for LVL and I-joists. In addition, lower plywood sales prices and sales volumes also contributed to the decrease in sales. …Nate Jorgensen, CEO said “As we move through the second quarter and better understand the underlying demand for 2025, we will be prepared and flexible as the economic situation changes.”

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Clearwater Paper reports Q1, 2025 net loss of $6.3 million

By Clearwater Paper Corporation
Business Wire
April 29, 2025
Category: Finance & Economics
Region: United States, US West

SPOKANE, Washington — Clearwater Paper reported financial results for the first quarter ended March 31, 2025. …For the first quarter of 2025, Clearwater Paper reported net sales of $378 million compared to $259 million for the first quarter of 2024. Clearwater Paper reported net loss from continuing operations in the first quarter of 2025 of $6 million compared to net loss from continuing operations of $2 million for the first quarter of 2024. Adjusted EBITDA was $30 million compared to $14 million in the first quarter of 2024. The increase in Adjusted EBITDA was primarily driven by higher sales volume due to the inclusion of our Augusta facility, the absence of a significant weather event at our Lewiston, Idaho facility that negatively impacted the first quarter of 2024 and benefits from our cost reduction plan, offset by lower sales prices.

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PotlatchDeltic reports Q1, 2025 net income of $25.8 million

PotlatchDeltic Corporation
April 28, 2025
Category: Finance & Economics
Region: United States, US West

SPOKANE, Washington — PotlatchDeltic Corporation reported net income of $25.8 million on revenues of $268.3 million for the quarter ended March 31, 2025. Net loss was $0.3 million on revenues of $228.1 million for the quarter ended March 31, 2024. Highlights include: Total Adjusted EBITDDA of $63.4 million and Total Adjusted EBITDDA margin of 23.6%; Waldo, Arkansas sawmill ramp-up complete; achieved targeted production metrics and run rate for annual nameplate capacity of 275 million board feet; Repurchased 93,100 shares for $4.1 million. …”We delivered solid operational results across all of our business segments despite the prevailing economic and trade policy uncertainties affecting the market,” stated Eric Cremers, President and Chief Executive Officer.

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Louisiana Pacific reports Q1, 2025 net income of $91 million

Louisiana Pacific Corporation
May 6, 2025
Category: Finance & Economics
Region: United States, US East

NASHVILLE, Tennessee — Louisiana-Pacific reported its financial results for the three months ended March 31, 2025. Highlights include: Siding net sales increased by $41 million (11%) to $402 million; Oriented Strand Board (OSB) net sales decreased by $46 million to $267 million; Consolidated net sales remained flat at $724 million; Net income was $91 million, a decrease of $17 million; and Cash provided by operating activities was $64 million. …“LP’s Siding business delivered 11% revenue growth and margin expansion in the first quarter,” said LP CEO Brad Southern. “Despite tariff uncertainty and a slow start to the building season, LP’s Siding order file is on pace for a record second quarter, driven by ExpertFinish growth, share gains in new residential construction, and a recovering shed market.”

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Kansas builders face uncertain prices as U.S. and Canada ‘keep flexing their muscles’ on tariffs

By Morgan Chilson
Kansas Reflector
May 5, 2025
Category: Finance & Economics
Region: United States, US East

TOPEKA, Kansas — Building a new house in today’s market doesn’t yet mean extra dollars for lumber or manufactured wood products, but Kansas building supply managers warn that tariffs have driven up other construction costs. While on-again, off-again tariffs on Canadian timber are currently off, Kansans should prepare to pay more for just about everything else in the house, they said. “You take the hardware and the millwork portion of our business, and we’re getting daily price increases. …“Canada is the source of upwards of 80% of our lumber, so that’s a huge issue for the homebuilding industry in particular,” he said. …“I would say pretty much 99.9% of all the builders we deal with have language in their contracts for increases due to market conditions,” he said. “Unfortunately, the end user is the one that’s bearing the brunt of all these tariffs,” Robinson added.

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Rayonier Inc. reports Q1, 2025 net loss of $3.4 million

Rayonier Inc.
April 30, 2025
Category: Finance & Economics
Region: United States, US East

WILDLIGHT, Florida — Rayonier reported first quarter net loss attributable to Rayonier of ($3.4) million on revenues of $82.9 million. This compares to net income attributable to Rayonier of $1.4 million on revenues of $113.7 million in the prior year quarter. Due to the Company’s previously announced agreement to sell entities that hold its entire 77% New Zealand joint venture interest, the contribution from the Company’s New Zealand operations are now reflected as discontinued operations on its consolidated financial statements. “We continued to advance key strategic initiatives during the first quarter, underscored by our announcement of an agreement to sell our New Zealand joint venture interest in March,” said Mark McHugh, President and CEO.

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International Paper reports Q1, 2025 net loss of $105 million

By International Paper
PR Newswire
April 30, 2025
Category: Finance & Economics
Region: United States, US East

MEMPHIS, Tennessee — International Paper reported first quarter 2025 net earnings (loss) of $(105) million and adjusted operating earnings (non-GAAP) of $101 million. First quarter net sales were $5.9 billion in 2025 and $4.6 billion in 2024. First quarter net earnings includes a pre-tax charge of $271 million for accelerated depreciation and restructuring charges related to the previously announced closure of the Company’s Red River containerboard mill in Campti, Louisiana. …Andy Silvernail, Chief Executive Officer said., “This year’s first quarter results reflect higher sales and earnings, primarily driven by the DS Smith acquisition, sales price increases, and cost out”. “We also made good progress on growing our market position in our North American packaging business. Overall market demand, however, was softer than anticipated in both of our regions. 

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UFP Industries reports Q1, 2025 net earnings of $79M

By UFP Industries Inc.
Business Wire
April 28, 2025
Category: Finance & Economics
Region: United States, US East

GRAND RAPIDS, Michigan — UFP Industries announced first quarter 2025 results including net sales of $1.60 billion and net earnings attributable to controlling interests of $78.8 million. …Will Schwartz, UFP Industries CEO. “Business activity improved sequentially in each month during the quarter and that improvement has continued into April. …We remain on target to realize $60 million of structural cost savings by year-end 2026″ …“While the prospect of lumber tariffs only adds to the macro uncertainty, we have dealt with lumber tariffs for many years and are well equipped to manage through them. We believe our diverse and balanced customer base will help us navigate through any market challenges.” …Net earnings attributable to controlling interests of $78.8 million represents a 35% decrease from last year. 

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Drax: Wood Pellet Production Up In Q1

Biomass Magazine
May 1, 2025
Category: Finance & Economics
Region: International

Drax Group plc on May 1 released a first quarter trading update, reporting strong performance for both its North American-based pellet production and U.K.-based biomass power generation business segments. The company said its pellet production business is performing well, with production levels that are up when compared to the first quarter of last year. Pellet operations have benefitted from good operational performance and benign weather conditions, Drax added. 

  • Strong performance – FlexGen, Pellet Production and Biomass Generation
  • Full year 2025 expectations for Adj. EBITDA around the top end of consensus estimates
  • Continuing to target post 2027 recurring Adj. EBITDA of £600-700 million – FlexGen, Pellet Production and Biomass Generation
  • £300 million share buyback programme progressing, c.£207 million complete
  • Final dividend of 15.6 pence per share, subject to shareholder approval at today’s AGM – Total dividend for 2024 of 26.0 pence per share (2023: 23.1 pence per share)

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Drax abandons AGM after confrontation with green activists

By Jillian Ambrose
The Guardian
May 1, 2025
Category: Finance & Economics
Region: International

The owner of the Drax power station has abandoned its annual shareholder meeting after a confrontation with activists who staged a protest against burning trees to generate electricity. The Guardian understands that between 10 and 20 activists were forcibly removed from the London venue after challenging the board of the energy company on its use of woody biomass at its North Yorkshire facility. The demonstration included groups that claim that Drax has contributed to air pollution in low-income Black communities in the US where it operates biomass pellet production facilities. …The board called an end to the meeting at about 11.30am on Thursday, before many of the shareholders were able to put their question directors, blaming the “threatening behaviour” of activists. 

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Stora Enso reports Q1, 2025 net income of EUR 107 million

Stora Enso OYJ
April 25, 2025
Category: Finance & Economics
Region: International

FINLAND — Stora Enso reported its Q1, 2025 results. Highlights include: Sales increased by 9% to EUR 2,362 million, mainly due to higher prices and deliveries. The average sales growth was 4.6%. Adjusted EBIT increased, for the fourth consecutive quarter compared year-on-year, to EUR 175 million. Adjusted EBIT margin increased to 7.4%. Operating result was EUR 171 (141) million, and net income was EUR 107 million. …The new consumer packaging board line at the Oulu site in Finland started production ramp-up in March. The line is expected to reach EBITDA breakeven by the year-end 2025 and full capacity during 2027. …Stora Enso has received regulatory approval to proceed with the acquisition of the Finnish sawmill company Junnikkala Oy, announced in October 2024.

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UK Housing starts lag behind completions for sixth consecutive quarter

By Tom Lowe
Housing Today UK
April 28, 2025
Category: Finance & Economics
Region: International

UK — Housing starts in the UK have lagged behind completions for the sixth successive quarter, including to the latest official data. Around 32,000 homes were started in the last quarter of 2024, compared to just over 49,000 completed during the same period, according to the Office for National Statistics. The number of starts is down from 37,000 in the preceding quarter and well below the average of 42,000 homes which have been started per quarter since the ONS resumed gathering the data after the pandemic in April 2022. Completions have remained more stable, rising in the last quarter of 2024 from 41,500 in the third quarter, with an average of just over 49,000 completions a year since the pandemic. Pocket Living chief executive Paul Rickard said: “By any measure these are a disappointing set of figures and continue to highlight the massive challenge the government has.”

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