Interfor Corporation reports a Q3, 2023 loss of $42 million

Interfor Corporation
November 2, 2023
Category: Finance & Economics
Region: Canada, United States

BURNABY, BC — Interfor Corporation recorded a Net loss in Q3’23 of $42.4 million compared to a Net loss of $14.1 million in Q2’23 and Net earnings of $3.5 million in Q3’22. Adjusted EBITDA was $31.9 million on sales of $828.1 million in Q3’23 versus $41.9 million on sales of $871.8 million in Q2’23 and $129.5 million on sales of $1.0 billion in Q3’22. Notable items in the quarter Lumber production totaled 1.0 billion board feet, representing a decrease of 26 million board feet quarter-over-quarter. The decrease was primarily due to the temporary closure of a sawmill in B.C. as a result of wildfires. …Weak Lumber Prices. Lumber prices continued to reflect softened demand driven by the elevated interest rate environment and ongoing economic uncertainty. …Interfor expects that over the mid-term, lumber markets will continue to benefit from favourable underlying supply and demand fundamentals. 

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