Interfor reports Q4, 2022 loss, positive full-year 2022

Interfor Corporation
February 9, 2023
Category: Finance & Economics
Region: Canada, United States

BURNABY, BC — Interfor recorded a Net loss in Q4’22 of $72.2 million compared to Net earnings of $3.5 million in Q3’22 and $69.7 million in Q4’21. Adjusted EBITDA was a loss of $68.7 million on sales of $810.3 million in Q4’22 versus Adjusted EBITDA of $129.5 million on sales of $1.0 billion in Q3’22 and Adjusted EBITDA of $149.5 million on sales of $675.9 million in Q4’21. Lumber demand moderated during the quarter. Interfor’s average selling price was $699 per mfbm, down $101 per mfbm versus Q3’22. …Lumber production totaled 874 million board feet, representing a decrease of 112 million board feet quarter-over-quarter. This decrease reflects temporary production curtailments during Q4’22, primarily related to economic conditions and market uncertainty. For the full year ending December 31, 2022, Interfor recorded Net earnings of $598.2 million compared to Net earnings of $819 million in 2021. Adjusted EBITDA for the full year 2022 was $1,059.4 million compared to $1,246.8 million in 2021.

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