Canfor Corporation reported operating income of $282.1 million for the 2Q 2018, up $78.3 million from reported operating income of $203.8 million for the 1Q 2018, with the increase reflecting significantly higher lumber segment operating earnings and record-high pulp and paper segment operating earnings.
After adjusting for duties, operating income was $333.8 million for the 2Q 2018, up $95.1 million from similarly adjusted operating income in the 1Q 2018.
2Q 2018 adjusted net income was $214 million, compared to $104.2 million in the 2Q 2017. 2Q sales amounted to $1,460 million, compared to $1,160 million in the 2Q 2017. Canfor's 2Q 2018 net income rises to $169.8 million from $81.3 million in the 2Q 2017.
Commenting on the Company’s 2Q results, Canfor’s President and CEO, Don Kayne, said, “Our lumber and pulp businesses continued to generate strong financial results reflecting both the strength of the lumber and pulp markets and a return to more normal operating conditions in the 2Q. Our solid operational performance enabled us to capitalize on these favourable market fundamentals, and set new record-high operating earnings.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc.
