The Company reported operating income of $65.1 million for the 1Q 2016, up $30.1 million from adjusted operating income of $35 million for the 4Q 2015. Improved lumber segment results reflected higher Western Spruce/Pine/Fir and Southern Yellow Pine unit sales realizations and improved productivity.
Commenting on the Company’s 1Q results, Canfor’s President and CEO, Don Kayne, said, “It was a solid quarter for our lumber and pulp businesses. Our Western Canadian lumber business operated at record-high productivity levels for the quarter, while our growing US South business continues to deliver strong results, despite some weather challenges.”
Kayne added, “Canfor Pulp continues to generate strong free cash flow, with results in the current quarter reflecting a solid operational performance.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) with interests in BC, Alberta, Ontario, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas.