Canfor Corp. reports $43.9-million second-quarter loss amid tough pulp, lumber conditions

With new records set in both Alberta and B.C. for total hectares burned, the company said operational constraints are expected to continue well into the third quarter of 2023. The extreme conditions are also disrupting the company’s access to fibre as well as harvest and hauling activities, Canfor said.

The loss in the second quarter was down from the $373.8-million profit Canfor reported during the second quarter last year. However, it was an improvement from the first quarter, when Canfor reported a loss of $142-million. The strike “severely impacted” the supply chain for subsidiary Canfor Pulp Products Inc., said the company’s president and CEO Kevin Edgson on the analyst call. Around 70 per cent of the company’s pulp is shipped through the affected ports, and so the strike led to a week-long curtailment at the Northwood pulp mill.

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