Interfor

By Interfor Corporation
Global Newswire
May 7, 2020
Category: Business & Politics
Region: Canada, United States

VANCOUVER, BC — Interfor recorded net earnings in Q1’20 of $6.3 million compared to net losses of $41.7 million in Q4’19 and $15.3 million.  Adjusted net earnings were $0.7 million in Q1’20 compared to Adjusted net losses of $17.4 million in Q4’19 and $12.7 million in Q1’19. Adjusted EBITDA was $36.6 million on sales of $479.6 million in Q1’20 versus $17.6 million on sales of $456.8 million in Q4’19. …Near-term lumber demand is expected to be negatively impacted by uncertainties related to COVID-19.  However, industry-wide lumber production curtailments should help balance supply with demand. Interfor expects demand for lumber to normalize over the mid- to long-term, particularly in the North American repair and renovation, residential and industrial segments.

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