Lumber sales
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Canfor reports heavy loss for Q3/2019 amid weak lumber market conditions
Reflecting weak global market conditions and a challenging fibre cost environment in British Columbia, for the third quarter of 2019, Canfor reported an operating loss of $124.0 million compared to an operating loss of $49.7 million reported for the second quarter of 2019. The material decline reflected significantly lower operating earnings in both the lumber and pulp and paper segments, and substantial curtailments taken by both businesses during the third quarter. Reported results for the third quarter of 2019 included a net duty expense of $53.5 million, at a combined countervailing duty and anti-dumping duty accrual rate of 29.24%, compared to $45.2 million reported in the second quarter of 2019 at a combined rate of 26.24%. Results in the third quarter of 2019 also included a net $5.3 million recovery in the lumber and log inventory write-down provisions, as well as... Continue reading
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October 25, 2019
Canfor reports heavy loss for Q3/2019 amid weak lumber market conditions
Reflecting weak global market conditions and a challenging fibre cost environment in British Columbia, for the third quarter of 2019, Canfor reported an operating loss of $124.0 million compared to an operating loss of $49.7 million reported for the second quarter of 2019. The material decline reflected significantly lower operating earnings in both the lumber and pulp and paper segments, and substantial curtailments taken by both businesses during the third quarter. Reported results for the third quarter of 2019 included a net duty expense of $53.5 million, at a combined countervailing duty and anti-dumping duty accrual rate of 29.24%, compared to $45.2 million reported in the second quarter of 2019 at a combined rate of 26.24%. Results in the third quarter of 2019 also included a net $5.3 million recovery in the lumber and log inventory write-down provisions, as well as... Continue reading
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October 25, 2019
Canfor reports heavy loss for Q3/2019 amid weak lumber market conditions
Reflecting weak global market conditions and a challenging fibre cost environment in British Columbia, for the third quarter of 2019, Canfor reported an operating loss of $124.0 million compared to an operating loss of $49.7 million reported for the second quarter of 2019. The material decline reflected significantly lower operating earnings in both the lumber and pulp and paper segments, and substantial curtailments taken by both businesses during the third quarter. Reported results for the third quarter of 2019 included a net duty expense of $53.5 million, at a combined countervailing duty and anti-dumping duty accrual rate of 29.24%, compared to $45.2 million reported in the second quarter of 2019 at a combined rate of 26.24%. Results in the third quarter of 2019 also included a net $5.3 million recovery in the lumber and log inventory write-down provisions, as well as... Continue reading