Challenging Q3/2024 for Canfor; lumber segment outlook in N. America and Europe under pressure

Canfor Corp. says it had a net loss of $350.1 million in its last quarter as it took writedowns and impairment charges related to mill closures in a slumping lumber market. The forestry giant says the net loss worked out to $2.96 per share, compared with a net loss of $23.1 million or 19 cents per share last year. Canfor says its B.C. operations continue to struggle with limited access to economic fibre, weak lumber prices, rising operating costs, increased tariffs and various regulatory complexities. Company chief executive Don Kayne says it was ...