Interfor recorded a net loss in Q4’25 of $104.6 million, or $1.59 per share, compared to a net loss of $215.8 million, or $4.19 per share in Q3’25 and a net loss of $49.9 million, or $0.97 per share in Q4’24.
Adjusted EBITDA was a loss of $29.2 million on sales of $600.6 million in Q4’25 versus an Adjusted EBITDA loss of $183.8 million on sales of $689.3 million in Q3’25 and Adjusted EBITDA of $80.4 million on sales of $746.5 million in Q4’24.
During and subsequent to Q4'25, Interfor completed a series of financing transactions. Taken together, these transactions significantly enhance Interfor's financial flexibility, bolster liquidity and provide meaningful additional runway as the Company continues to navigate volatile lumber market conditions. At December 31, 2025, Interfor had a net debt to invested capital ratio of 36.5% and had available liquidity of $481.6 million, proforma for the transactions outlined below.
Lumber production of 753 million board feet was down 159 million board feet versus the preceding quarter. This decline largely reflects the temporary production curtailments announced on October 17, 2025.
Lumber shipments of 812 million board feet exceeded production by approximately 8%, resulting in a 63 million board foot reduction in inventory volume during the quarter.
North American lumber markets over the near term are expected to remain volatile as the economy continues to adjust to changing monetary policies, tariffs, labour shortages and geo-political uncertainty, and as industry-wide lumber production continues to adjust to match demand, accordint to Interfor’s outlook.
