Huge Q2 for Canfor
Canfor, the Vancouver, Canada-based lumber and forest products producer, reported second quarter 2018 net sales of 1.46 billion Canadian dollars (US$1.12 billion), a 26% increase from net sales of C$1.16 billion (US$888 million) in the second quarter 2017.
The company also reported a second quarter net income of C$169.8 million (US$130.0 million), more than doubling a second quarter net income of C$81.3 million (US$62.3 million) for the same period last year.
Adjusted lumber segment earnings largely reflected record Western Spruce/Pine/Fir (Western SPF) and Southern Yellow Pine (SYP) benchmark lumber prices, Canfor said.
“Our lumber and pulp businesses continued to generate strong financial results reflecting both the strength of the lumber and pulp markets and a return to more normal operating conditions in the second quarter,” said Canfor President and CEO Don Kayne. “Our solid operational performance enabled us to capitalize on these favorable market fundamentals, and set new record-high operating earnings.”
The company also reported a second quarter net income of C$169.8 million (US$130.0 million), more than doubling a second quarter net income of C$81.3 million (US$62.3 million) for the same period last year.
Adjusted lumber segment earnings largely reflected record Western Spruce/Pine/Fir (Western SPF) and Southern Yellow Pine (SYP) benchmark lumber prices, Canfor said.
“Our lumber and pulp businesses continued to generate strong financial results reflecting both the strength of the lumber and pulp markets and a return to more normal operating conditions in the second quarter,” said Canfor President and CEO Don Kayne. “Our solid operational performance enabled us to capitalize on these favorable market fundamentals, and set new record-high operating earnings.”