VANCOUVER, BC — Canfor Corporation reported its Q2, 2024 results. The Company reported an operating loss of $250.8 million compared to an operating loss of $85.8 million in the first quarter of 2024. After accounting for adjusting items totaling $83.0 million, the Company’s operating loss was $167.8 million and when taking into consideration $38.5 million in restructuring costs recognized this period, correlated with the permanent and indefinite curtailments in the lumber and pulp businesses, the Company’s operating loss for the second quarter was $129.3 million. For the lumber segment, the operating loss was $230.5 million for the second quarter of 2024, compared to the previous quarter’s operating loss of $57.1 million. …For the pulp and paper segment, the operating loss was $5.6 million compared to an operating loss of $15.7 million. Canfor’s CEO, Don Kayne, said, “This quarter posed considerable challenges for our lumber business. While our European operations delivered solid earnings, North America continued to face a persistently weak pricing environment.
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