Canfor reports tough Q2/2024 for its lumber segment

Canfor Corporation has announced its second-quarter results for 2024, highlighting significant challenges and decisive strategic moves within its lumber segment due to a tough market environment. For Q2 2024, the lumber segment experienced an operating loss of $230.5 million, compared to $57.1 million in Q1 2024. This quarter's results included a $51.4 million inventory write-down, a $31.6 million asset write-down and impairment charge, and $32.6 million in restructuring costs. Adjusted for these items, the lumber segment's operating loss was $114.9 million, compared to an adjusted loss of $87 ...