Canfor Pulp Products Inc. (“CPPI”) reported net income of $12.6 million for the 3Q 2017, compared to $20.2 million for the 2Q 2017 and $22.4 million for the 3Q 2016.
For the nine months ended September 30, 2017, the Company’s net income was $56.9 million, compared to $47.7 million for the nine months ended September 30, 2016.
Canfor Pulp Products reported operating income of $21.1 million for the 3Q 2017, down $10.4 million from the $31.5 million reported for the 2Q 2017. While pulp shipments and production were both up quarterover-quarter, the related increase in operating income was more than offset by the impact on unit pulp and paper sales realizations of a significantly stronger Canadian dollar.
Commenting on the Company’s 3Q 2017 results, CPPI’s CEO, Don Kayne said, “Despite the stronger Canadian dollar, market conditions were somewhat better than anticipated, allowing us to generate solid results for the quarter. With global pulp markets strong as we head into the fourth quarter, and our major NBSK pulp maintenance shutdowns now behind us, we are very focused on optimizing our production performance and sales mix through the balance of the year.”
CPPI is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia, Canada.
