Canfor's 3Q net income rises to $66.2 million

Photo: Canfor

Canfor Corporation reported net income of $66.2 million for the 3Q 2017, compared to net income of $81.3 million for the 2Q 2017 and net income of $50.9 million for the 3Q 2016.

For the nine months ended September 30, 2017, net income was $213.6 million, compared to $112.9 million for the nine months ended September 30, 2016.

The Company reported operating income of $105.4 million for the 3Q 2017, down $25.6 million from reported operating income of $131 million for 2Q 2017, with the decline reflecting lower operating earnings in both the lumber and pulp and paper segments.

 

Commenting on the Company’s 3Q results, Canfor’s President and CEO, Don Kayne, said, “Despite significant weather-related challenges due to the severe forest fires in BC and hurricanes in the US South, combined with significant and unwarranted duties levied on shipments from Canada to the US, Canfor’s lumber business had another solid quarter, with the Company’s high-value focus, solid demand and supply constraints all contributing to our strong earnings for the period.”

 

Canfor is a leading integrated forest products company based in Vancouver, Canada. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc.