GreenFirst reports Q1, 2024 net loss of $13.4 million

By GreenFirst Forest Products Inc.
Business Wire in the Financial Post
May 14, 2024
Category: Finance & Economics
Region: Canada

TORONTO — GreenFirst Forest Products announced results for the first quarter ended March 30, 2024. Q1 2024 net loss from continuing operations was $13.4 million compared to net loss of $21.6 million in Q4 2023. Adjusted EBITDA for Q1 2024 was negative $3.5 million compared to negative $18.0 million in Q4 2023. In Q1 2024, this represents a positive contribution from the Company’s lumber operations and a negative contribution from the paper operations and overhead. …“We initially saw some positive momentum in lumber pricing at the start of the first quarter; however, this positive trend reversed at the end of the quarter resulting in curtailments by some of our competitors in the lumber industry,” said Paul Rivett, GreenFirst’s Executive Chair. 

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