Canfor Corp. (TSE:CFP) has released an update.
Canfor Corporation faced a tough 2023 with an operating loss of $532 million and a shareholder net loss of $326 million, underpinned by weak global lumber market conditions and high interest rates that stifled demand. Despite setbacks, the company’s US South and European operations posted solid earnings, while persistent challenges in British Columbia led to production cuts and the permanent closure of a pulp line at the Prince George Pulp and Paper Mill. The company’s capital growth initiatives in the US South, including the start-up of a new sawmill in Louisiana, marked a bright spot amid the difficulties.
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