Canfor posts Q3 2023 operating loss of $65 million

Posted on November 13, 2023   |  

The company faced a $65.1 million operating loss, with a significant portion of $49.3 million attributed to Canfor Pulp Products Inc. (CPPI).

In Q2 2023, the company saw a $66.7 million operating loss, out of which $37.9 million was linked to CPPI.

Although lumber prices in 2023 are notably lower than those in 2022, it's not primarily lumber prices that impacted Canfor's third-quarter financial performance. Instead, global pulp prices played a more significant role.

Year-to-date, Canfor reported revenues of $4.1 billion, which represents a decline compared to the $6 billion generated in the same period last year.