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August 19, 2021
Canadian lumber giants to lose huge profit gains as demand recedes
North American lumber producers are expected to see a dip in current-quarter profit after lumber demand for do-it-yourself home projects decreased following the easing of most restrictions that kept people in their houses. Lofty lumber prices, the sustained needs of home builders and industrious homeowners during the pandemic pushed their second-quarter profit to record levels. But the DIY market, which accounts for 20% of lumber sales, is leveling. Canada's West Fraser Timber Co Ltd, Canfor Corp and Interfor Corp are projected to report combined earnings of about $803 million ...
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